Budapest leads global city house price rankings
This quarter Budapest has reclaimed its title as the city with the fastest-rising house prices globally. The capital of Hungary saw residential prices accelerate by 24% in the year to September 2019 driven by low mortgage rates, strong employment and economic growth.
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The Global Residential Cities Index tracks the movement in mainstream residential prices across 150 cities worldwide using official statistics.
Overall, the index’s performance is moderating. At 3.2%, the index increased at its weakest annual rate since the second quarter of 2015.
Yet despite this, more than 78% of the 150 cities tracked by the index, registered either flat or rising prices over the 12-month period. In short, prices are rising across more cities but at a slower rate.
Analysis of the top performing city over the last three years backs up this trend. Three years ago annual growth in excess of 40% was not unusual, in the last year the frontrunners are closer to 20% (fig 1).
Read the index in full here
For further information contact Kate Everett-Allen