Global House Price Index records lowest rate of growth in six years
Prices across 56 countries and territories worldwide are rising at an annual rate of 3.7% on average, this marks the index’s slowest rate of growth for over six years. This trend mirrors the pattern observed in Knight Frank’s other global city indices – across both the mainstream and prime segments.
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Analysis of the latest available data, shows Hungary leads the index this quarter with 15.4% annual price growth, boosted by a robust economy (4.9% GDP growth forecast in 2019*), low mortgage rates, high wage growth and a range of government subsidy measures.
However, other previous frontrunners from the last two years have cooled significantly – Slovenia (18th), Malta (22nd) and Iceland (26th) either due to weaker economic landscapes, affordability concerns or a decline in tourism.
Seven of the top ten rankings this quarter are European countries and most are located within Central and Eastern Europe. Here, prices are rising from a low base, economies are strengthening and borrowing costs are close to record lows.
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