Global House Price Index Suggests Mild Recovery

The current economic turmoil has changed the positioning of top performing real estate markets globally and the results are pretty shocking. Knight Frank  produces the Global House Price Index and it is seen as the bible for overseas property investors, who often aggregate the information provided and invest accordingly.

Amazingly in this index Israel comes out on top with a yearly growth of 12.5% and is the only place to demonstrate double digit growth. Norway is also showing some resilience with an increase of 5.3%. During the first quarter of 2009 just less than half of the countries listed were still experiencing price drops. 

Knight Franks current report shows that substantial price softening is only happening to 25% of the countries, this information does point towards a mild recovery. The North of Scandinavia is holding pretty strong in terms of stable market conditions, as Swedens property prices rose by 3.6% and Finland came in with a 3.9% increase.

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