9 Hottest Housing Markets Across the Globe
While growth in US home prices may have slowed down, prices in some markets around the world have been surging. Based on data from the Global Property Guide, there are nine countries that have seen home prices rise more than 7% year-over-year as of Q1 2015. Here are the 9 hottest markets in the world right now.
The Land of Fire and Ice comes in at No. 9 with year-over-year growth of 7.71%, up from 7.37% in 2013.
8. New Zealand
New Zealand dropped slightly from 2013’s 8.36%, but still managed to rise 7.85% year-over-year.
Turkey occupies the No. 7 position with 7.86% year-over-year growth, up from 7.16% in 2013.
6. Puerto Rico
Home prices on the island of Puerto Rico have surged from 2013’s -10.89% year-over-year growth all the way to 7.99%.
New properties have contributed to the surging home prices in Israel. Prices are up substantially from 2013’s 3.43%, increasing to 8.26% year-over-year.
Home prices in Sweden remain strong despite a sluggish economy. Prices rose 8.79% year-over-year, a decent jump from 5.98% in 2013.
Estonia has dropped substantially from 2013’s 20.1% year-over-year growth. However, growth of 9.59% is plenty good enough to take down the No. 3 spot.
2. Hong Kong
Hong Kong’s housing market has bounced back considerably from -2.27% in 2013. Prices have surged 14.37% year-over-year.
The Emerald Isle takes down the top spot thanks to a rapidly growing economy that has helped push home prices up 17.57% year-over-year, a nice jump from 7.49% in 2014.