The Design District Hamilton.The five-year increase reached 110.9%. Last year’s global real estate market may have been forgotten, with prices rising by just 0.5 per cent and eclipsing the outlook for 2012. But the sharp rise in property prices over the past five years has raised concerns about asset bubbles and high household debt.Please Visit: The Design District Hamilton to Get Your VVIP Registration Today!
According to research by Knight Frank Real Estate Brokerage, an international real estate investment consultancy, we have a list of the top 10 hottest real estate markets in the world. The study ranked some countries and regions with average housing price increases between the fourth quarter of 2006 and the fourth quarter of 2011.
Mainland China is the hottest real estate market in the world. With rapid economic growth in the world’s second-largest economy, housing prices in major cities Beijing and shanghai have risen by more than 110% over the past five years.
In the fourth quarter of 2011, the price of high-end residential housing in Shanghai was $19400 per square meter, while the average price of similar housing in Beijing was $17400 per square meter.
Fearing a deepening asset bubble, the government has been reining in red-hot house prices for most of the past two years. Despite the recent cooling in house prices, the Chinese government still says that prices in mainland China are far from returning to reasonable levels and that government controls will not be relaxed this year. Average house prices in mainland China are expected to fall by 10% to 20% in 2012, according to a survey.
Hong Kong is one of the most expensive real estate markets in the world. As an important global financial centre, Hong Kong overtook London last year to become the world’s most expensive office rental market.
In the fourth quarter of 2011, the average price per home in high-end residential areas in Hong Kong was about US $47500 per square meter-the fourth highest in the world.
Israel has firmly occupied the world’s third-hottest real estate market since 2009, according to Knight Frank.