Home » Business » Real Estate
Property prices soar globally on Asia boom
Print Edition
Booming housing markets in emerging Asia have pushed global residential property prices to a new peak, according to a report yesterday.
Consultancy Knight Frank’s global house price index rose 4.6 percent over the 12 months to the end of September, taking it 4 percent higher than its previous peak in the second quarter of 2008.
The index’s strong performance has been assisted not just by headline-grabbing price rises in Dubai, China’s mainland and Hong Kong, but also in a number of emerging markets, said Kate Everett-Allen, associate at the London-based property consultancy.
Dubai topped the index, as house prices there rose more than a quarter over the last 12 months, followed by China’s mainland, Hong Kong and Taiwan.
Struggling southern European economies filled the lower reaches of the index, with house prices falling steeply in Croatia, Spain and Greece.
“There are still 17 countries where house prices fell in the year to September — all except three were located in Europe. Only Japan, South Korea and New Zealand interrupt Europe’s dominance at the foot of the table,” said Everett-Allen.
Perhaps the biggest risk to the world’s housing market would be a reduction in policy stimulus by the United States Federal Reserve, she added.
Economists polled by Reuters last month expect the Fed to start reducing its monthly bond purchases by March, with a small chance it could do so in January.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
