Global Home Price Growth Slows to a 6-Year Low in Q3

WORLD PROPERTY JOURNAL | December 23, 2019

According to global real estate consultant Knight Frank, home prices across 56 countries and territories worldwide are rising at an annual rate of 3.7% on average. This marks the index's slowest rate of growth for over six years. This trend mirrors the pattern observed in Knight Frank's other global city indices - across both the mainstream and prime segments. Analysis of the latest available data, shows Hungary leads the index this quarter with 15.4% annual price growth, boosted by a robust economy (4.9% GDP growth forecast in 2019*), low mortgage rates, high wage growth and a range of government subsidy measures. However, other previous frontrunners from the last two years have cooled significantly - Slovenia (18th), Malta (22nd) and Iceland (26th) either due to weaker economic landscapes, affordability concerns or a decline in tourism. In contrast, some countries and territories are rising up the rankings. A year ago, Greece sat in 24th place with price growth of 2.4%. Although prices still sit 37% below their 2008 peak, they are now rising at a rate of 7.7% per annum and Greece is ranked 12th out of 56 countries and territories.

Spotlight

Sovran Self Storage, Inc. is a fully integrated, self-administered and self-managed real estate investment trust (REIT) that acquires and manages self storage properties. The Company owns and/or operates more than 500 self storage facilities encompassing over 35 million square feet, making it one of the largest self-storage companies in the United States.

Spotlight

Sovran Self Storage, Inc. is a fully integrated, self-administered and self-managed real estate investment trust (REIT) that acquires and manages self storage properties. The Company owns and/or operates more than 500 self storage facilities encompassing over 35 million square feet, making it one of the largest self-storage companies in the United States.

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