Dubai, China and Taiwan recorded the largest annual increases in mainstream house prices ending the year 35%, 28% and 15% higher respectively.
However, despite Dubai’s outstanding performance in 2013, Knight Frank notes that mainstream prices remain 25% below their 2008 peak.
Thirty nine countries recorded a positive annual price growth in 2013, compared with twenty-seven a year ago.
Europe continues to dominate the lower half of the table but the rate of decline is slowing in countries such as France, Spain and the Netherlands.
Perhaps not surprisingly, the Cyprus housing market weakened 7.3% over the year placing it just outside the bottom four.
Knight Frank Global House Price Index
|
Rank
|
Country
|
12-month % change |
6-month % change |
3-month % change |
Latest data
if not Q4 |
|---|---|---|---|---|---|
| 1 | Dubai | 34.80 | 15.30 | NA | |
| 2 | China1 | 27.50 | 10.80 | 5.00 | |
| 3 | Taiwan | 15.10 | 2.90 | 2.00 | |
| 4 | Estonia | 14.50 | 5.30 | 6.00 | |
| 5 | Turkey | 13.80 | 5.70 | 2.90 | |
| 6 | Brazil3 | 12.70 | 6.60 | 3.50 | |
| 7 | Indonesia | 11.50 | 4.10 | 1.80 | |
| 8 | Colombia | 11.50 | 5.60 | 1.90 | Q3 |
| 9 | United States | 11.30 | 2.80 | -0.30 | |
| 10 | Poland | 10.20 | 9.00 | 6.40 | |
| 11 | Malaysia2 | 10.10 | 5.10 | 1.30 | Q3 |
| 12 | Kazakhstan | 9.40 | 4.80 | 3.30 | |
| 13 | Australia | 9.30 | 5.90 | 3.40 | |
| 14 | New Zealand | 9.20 | 4.40 | 1.80 | |
| 15 | Iceland | 8.70 | 5.10 | 3.20 | |
| 16 | Israel | 8.60 | 2.70 | 0.70 | Q3 |
| 17 | Hong Kong2 | 7.70 | 0.70 | -0.20 | |
| 18 | United Kingdom | 7.00 | 5.00 | 2.70 | |
| 19 | Ireland | 6.40 | 6.70 | 2.60 | |
| 20 | Luxembourg | 5.50 | 1.60 | 0.40 | Q3 |
| 21 | Switzerland | 4.60 | 1.80 | 1.20 | |
| 22 | Russia | 4.20 | 1.80 | 0.50 | |
| 23 | Austria | 4.10 | 0.60 | -0.50 | |
| 24 | Sweden | 4.10 | 2.60 | 1.10 | |
| 25 | Mexico | 4.10 | 0.90 | 0.10 | |
| 26 | Canada | 3.80 | 1.50 | 0.10 | |
| 27 | India | 3.40 | 3.40 | 2.40 | |
| 28 | Latvia | 3.00 | 2.00 | 1.20 | |
| 29 | South Africa | 2.80 | 2.30 | 1.40 | |
| 30 | Denmark | 2.60 | 1.60 | -0.60 | Q3 |
| 31 | Germany | 2.50 | -1.40 | 2.10 | |
| 32 | Singapore4 | 1.90 | -0.30 | -0.90 | |
| 33 | Belgium | 1.80 | 2.30 | 2.10 | Q3 |
| 34 | Lithuania | 1.80 | -8.90 | -5.40 | Q3 |
| 35 | Malta | 1.10 | 0.50 | 2.00 | Q3 |
| 36 | Norway | 1.00 | -4.40 | -2.60 | |
| 37 | Romania | 0.80 | -3.20 | -2.40 | Q3 |
| 38 | Morocco | 0.40 | -0.40 | -1.90 | Q3 |
| 39 | South Korea | 0.30 | 0.60 | 0.50 | |
| 40 | Portugal | -0.50 | 0.00 | 0.00 | |
| 41 | Finland | -0.60 | -3.80 | -2.70 | Q3 |
| 42 | Czech Republic | -0.90 | -0.10 | -0.70 | Q3 |
| 43 | Bulgaria | -1.20 | -0.20 | -0.10 | |
| 44 | France2 | -1.40 | 0.10 | -0.70 | |
| 45 | Japan | -1.60 | -0.60 | 0.00 | |
| 46 | Slovenia | -2.30 | 0.70 | 0.10 | Q3 |
| 47 | Slovakia | -2.60 | -1.30 | -0.40 | |
| 48 | Jersey | -2.70 | -1.50 | -4.80 | |
| 49 | The Netherlands | -3.70 | 1.20 | 0.00 | |
| 50 | Spain | -4.00 | -2.20 | -1.80 | |
| 51 | Italy | -5.30 | -1.80 | -1.20 | Q3 |
| 52 | Cyprus | -7.30 | -4.80 | -2.40 | Q3 |
| 53 | Hungary | -7.60 | -4.90 | -3.50 | Q3 |
| 54 | Greece | -9.30 | -4.30 | -3.00 | |
| 55 | Croatia | -14.40 | -0.80 | 0.00 | |
| 56 | Ukraine | -25.90 | -0.30 | -2.90 | |
| 1 Based on Beijing & Shanghai 2 Provisional data 3 Asking prices 4 Island-wide price index for non-landed properties | |||||
Established in 2006, the Knight Frank Global House Price Index is the definitive means for investors and developers to monitor and compare the performance of mainstream residential markets across the world. The index is compiled on a quarterly basis using official government statistics or central bank data where available.