The global housing bust is over. Website, Global Property Guide’s latest survey of official house price statistics shows home prices rose in 29 out of 36 countries during the year to April 2010.
In countries where prices continued to fall, like Switzerland, Croatia, Slovakia and The Netherlands, rates of decline slowed. And fewer countries were in severe crisis - only Ireland, Bulgaria and Thailand show no signs of recovery the website says, each country suffering double digit falls.
The website's statistics are inflation adjusted to give a more realistic picture than that available from nominal price changes, the data preferred by estate agents.
Hong Kong topped the website's list of high risers, enjoying a 27 per cent increase in home values. The website says eastern Europe's slump is easing, but warns a possible bubble is forming in east Asian markets where huge Chinese investment is driving up prices.
http://globalpropertynews.blogspot.com
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