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Revealed: 10 Nations Where Property Prices Fallen And Risen The Most
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Bangalore: Several sectors are facing the heat of economic uncertainty including real estate. However, there are a few countries that witness growth in property prices every year, irrespective of the downfall in the rest of the world. Below listed are some of the countries where property prices have fallen and risen, reports The Economist.
1) South Africa
Overall rank in housing prices: 1
South Africa’s economy is the largest and most developed in Africa and the 28th-largest in the world. The country has witnessed 121.2 percent change in property from the year 2000 to 2012. The country has the fifth-highest per capita income in whole of Africa when it comes to purchasing power parity. Besides, it is the major exporter of diamonds and minerals in the world.
2) Hong Kong
Overall rank in housing prices: 2
The flourishing economic market of Hong Kong makes it one of the most sought after city in the world. Besides its strong economy, Hong Kong is an expensive location for luxury real estate. Hong Kong’s real estate market has emerged to be a hot cake and all wealthy investors want to have a piece of it. From 2000 to 2012, the change in property prices shot upto 121.2 percent.
Read More: Mumbai Property Rates Could Be Subdued In Near Future: ICRA
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