According to the research, the top ten countries with the fastest growth in housing prices include Bulgaria, Singapore, Hong Kong, the island of Jersey (in the English Channel, under the jurisdiction of Great Britain), Russia, Iceland, and Australia. In Bulgaria, the leader of this housing price hit parade, prices rose by 31.5% over the year.
Due to high demand for real estate, growth twice the global average (6.1%) was recorded in Australia. As reported by the portal ZagranDom.ru, over the past year prices jumped here by 13.8%, and in terms of residential construction volume, the Australian subcontinent this year far outpaced the USA, France, China, South Africa, Croatia, Canada, Finland, the United Kingdom, Israel, and Germany.
Knight Frank specialists note that the global market remained under pressure from the American crisis, but the luxury real estate segment does not react to such fluctuations and, according to forecasts, will remain indifferent to them in the future.