This years best and worst housing markets in the world.

House prices in Dubai market has foundered in the past year and in the Baltics, it is also bad. In Central Europe and in Israel has the prices are rising.

It is the UK valuation firm Knight Frank, which has produced a summary of the global housing market. The company has looked into the prices of houses between the third quarter of 2009 and the same period last year.

Overall, the world’s housing markets have recovered over the past year and more than two thirds of the 42 countries that Knight Frank unit has experienced price increases over the last three months. Despite this, the average price levels are lower in 60 percent of the country than they were a year ago:

“House prices will now rise in a clear majority of the countries included in the study. This can be compared with the second quarter, when prices rose in 50 percent of the countries,” says Liam Bailey, head of house analysis at Knight Frank.

Most of all has the prices raised in Israel. Here has the prices going up an average of 14 percent. Although Malta and Alpine countries Switzerland and Austria have seen sharp increases in house prices over the past year. During the last quarter, have the housing market in Singapore increased strongest and climbed by over 15 percent.

Sweden is among the countries in the minus column. The Swedish house prices have dropped, with 0.4 percent during the past year. This puts Sweden in the middle of the table.

Dubai has the worst problem. Prices have almost halves in the Emirate over twelve months.   With this place Dubai itself at the bottom of the list, before the two Baltic states of Estonia and Lithuania and Bulgaria.

Knight Frank also notes that several countries in Europe have not yet seen rising house prices during a single quarter after the credit crisis. These include Spain Ireland and Denmark.

Footnote. Knight Frank house price index is compiled using official data from each county’s statistical agency.

Related articles;

http://www.sundream-estate.com/blog/2009/05/30/us-house-sales-figures-are-worse-than-expected/

http://www.sundream-estate.com/blog/2009/05/27/the-worlds-largest-real-estate-crash-league/