World's 10 Hottest Real Estate Markets

5. Colombia

Average 5-year price growth: 39.4 percent

Colombia is ranked 5^th on the list of world’s hottest real estate markets. It is the only South American country that has managed to make through this list. The country has seen fast economic expansion with about 6 percent of GDP growth in the year 2011, which is the highest in past 4 years and so increases house buying mainly among the middle class section. According to government data, last year Colombia’s property price increased by 3.2 percent and new home sales were also increased by 19 percent.