Global house prices continue to rise
Global house prices continue to riseMany international housing prices are still showing signs of growth, claims new research.
The latest Knight Frank Global House Price Index revealed that house prices are rising by 9.6 per cent per annum compared to 9.63 per cent in last year's index results.
Strong growth can be seen in the emerging markets within central and eastern Europe, with Latvia leading the world price growth list with a yearly increase of 61.2 per cent, followed by Estonia with 24.5 per cent growth and Bulgaria showing a 22.6 per cent rise in property values.
In fact, growth was led by European countries, which accounted for with nine of the top performing regions. Recent European Union accession as well as increasing flight services to such counties has played a key role in enhancing both domestic and overseas demand.
A statement from Knight Frank explained: "The appetite for second homes, whether for personal use or for investment reasons, continues unabated, facilitated by ever increasing accessibility via new low cost air routes and the growth in supply of residential properties in both the mass and luxury sectors."
31 May 2007 Print this article