Much of the World’s Housing Market in a Price Bubble in 2021

Source: The World Property Journal — 

International property broker Knight Frank’s latest Global House Price Index is reporting that urban house prices worldwide are rising at their fastest rate since 2007 and of the 150 cities they track, 43 are now registering annual price growth above 10%.

Cities are far from under-performing their national housing markets, both look to be moving in tandem as Knight Frank reported in their Global House Price index last month.

But it’s not a global boom – 22 cities are still seeing prices decline year-on-year with several key cities in India, Spain, Italy and Israel amongst them. Asian cities whilst resilient are not the powerhouses of growth they were in 2018 – Hong Kong posted 2.2% annual growth and Beijing 3.6% – although luxury sectors in both cities are faring much better.