World's 10 Hottest Real Estate Markets

7.  Canada (tie) 

Average 5-year price growth: 28.7 percent

The North American country Canada has ranked 7^th on the list of world’s hottest housing markets. Over the past few years, the housing market of Canada is witnessing robust growth. Canada’s existing home sales shot up to 8.6 percent in the month of February compared to last year. According to the Canada Mortgage and Housing Corporation, Ontario, the most populous province of Canada has seen huge investment in condominium section. The country’s prime property market, Vancouver is a hottest property destination for foreign buyers, as the place is one among the world’s most sought after places to live. In the third quarter of 2011, Vancouver has witnessed property price escalation by 10.4 percent, says Knight Frank.