The Magazine for Asian Investors
According to a report by the Bank for International Settlements (BIS), nominal house prices have risen by double digits for the first time since the great financial crisis. Nominal house prices increased by 11.2% and real house prices by 4.6% year-on-year.
In developed economies, real house prices increased by as much as 8.5% YoY, and by 7.8% compared to the previous quarter.
Whereas in developing economies, only a weak increase of 1.6% and 1.8% quarter-on-quarter was recorded.
Real house prices in Central and Eastern Europe increased by 18.5%.
In the Middle East and Africa, real house prices rose by 2.7%.
In Asia and Latin America, real house prices fell by 1.3% and 1.5% respectively.
In the G20 economies, real house prices have risen even more dramatically compared with the post-financial crisis period.
In Canada, real house prices have risen by 50%. In Turkey, the U.S., India, and Germany, real house prices have risen by 60%.
Residential property prices in the emerging Asian markets (Year on Year Change / Quarterly Average / CPI Deflated / BIS Selected Residental Properties)