The situation in the global real estate market improves

The international consulting company Knight Frank has announced data on the global real estate market condition. According to the head of department at Knight Frank Liam Bailey residential real estate market analysis, in most regions of the world, housing prices are growing. In the third quarter of 2009, price growth in 70% of the regions identified in the index changes in the world of house prices (Knight Frank Global House Price Index) was marked, while in the second quarter of the cost of housing growth was recorded in less than 50% of the regions. However, between the upper and lower positions of the table is still there is a clear polarization. At the end of the year, the Israeli housing market remains the most prosperous in the world, Israel remains the only country where an increase of more than 10% (+ 13.7%) was recorded in the last 12 months. Most prices have fallen in Dubai (-47%), although in the third quarter there was a slight rise (1.2), but even this slight improvement is under threat because of the debt problems of Dubai World, which led to a loss of investor confidence. For European countries, which have not yet celebrated quarterly price increase since the beginning of the crisis, are Spain, Denmark and Ireland. In these regions oversupply restrains the growth in housing prices. In contrast, the UK market, despite the extremely heavy initial decline, recovers rapidly, because due to lack of housing prices will rise, and the demand is outstripping supply. Countries with accelerated the pace of development of the market concerns Australia, whose economy is almost not affected by credit constraints. The economies of many Asian region also has a strong position, and quarterly growth of 6% in Hong Kong and 2.5% in China. On the Indian market for the third quarter are not available, but in the second quarter, prices began to rise there, and you can count on the continuation of this trend. On this Site resources.knightfrank.com