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

WORLD PROPERTY JOURNAL | December 23, 2019

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

You’ve probably heard the saying “real estate is a people business,” which is entirely true. The most successful investors know how to network, communicate, and build and maintain relationships. However, there is another side to real estate investing that beginners like to ignore: the legal side. Understanding the anatomy of any real estate contract is the key to success for any investor (regardless of your experience).

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Spotlight

You’ve probably heard the saying “real estate is a people business,” which is entirely true. The most successful investors know how to network, communicate, and build and maintain relationships. However, there is another side to real estate investing that beginners like to ignore: the legal side. Understanding the anatomy of any real estate contract is the key to success for any investor (regardless of your experience).