World's 10 Hottest Real Estate Markets

8. Norway (tie) 

Average 5-year price growth: 28.7 percent

This European country has also made through the list of world’s hottest real estate market. Norway stood at 8th position in the list. The country is known as oil-rich and is likely to expand 2.2 percent in this current year. The housing market for Norwegians became favourable soon after the 28 percent tax deduction on interest payments. According to government data, this year the housing price has doubled up on a fast pace like the wages. For instance, the housing price in the west coast city of Stavanger has increased by 92 percent between the year 2005 and 2011.