The global housing market recovery has stalled. The Global Property Guide says prices rose in 15 countries and fell in 21 others in 2010.
Property prices in Greece, Turkey and the United States fell further in 2010 than the previous year, while Bulgaria, Hungary, Lithuania and Ukraine continue to suffer badly, though prices leapt 20 per cent in table topping Latvia.
Bottom of the table was Ireland where values plunged 11 per cent, compounding an 18 per cent collapse in 2009. The Scandinavian property boom is petering out.
Price rises in Asia were “robust” despite market cooling measures by governments. Singapore property prices jumped 13 per cent, putting it second in the table of 36 states surveyed. In the Philippines, prices rose in 2010 following two years of decline.
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