China, Hong Kong, Israel Top The List Of ‘World’s Hottest Real Estate Markets’

Posted by Orb Staff on April 24, 2012 No Comments
Categories : Residential Mortgage

11395_01world China, Hong Kong, Israel Top The List Of 'World's Hottest Real Estate Markets' Asian countries made up half of the 2012 list of the ‘World's Hottest Real Estate Markets,’ as announced by CNBC, with China leading the world based entirely on housing data from its two largest metropolitan areas.

Using data from the consulting group Knight Frank, CNBC tracked national five-year averages in housing prices between the fourth quarter of 2006 and the same period in 2011. The data reflected mainstream housing prices in most major cities in the listed countries.

China led the world with a 110.9% five-year price growth, based solely on home prices in Beijing and Shanghai. Hong Kong came in second, with a five-year price growth of 93.7%.

The only Middle Eastern country on the list was Israel, which came in third with a 54.5% five-year housing price growth. Singapore followed in fourth place with a 50.5% five-year price growth, and Colombia – the only Latin American country in the top 10 – was fifth at a 39.4% five-year price growth.

Rounding out the list was Taiwan (30.1% five-year price growth); a tie between Canada and Norway, each with a 28.7% five-year price growth; Malaysia (28.5% five-year price growth); and Switzerland (27.5% five-year price growth).

However, CNBC warns that these numbers could be a harbinger of more troubles. ‘Over the past five years, prices have registered huge gains, sparking fears of an asset bubble and concerns over the impact of high household debt,’ the network says.

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