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.