Annual growth rate of global home prices averaged 7.3 percent in Q1

Cambodia Compass report, 7th June - Global housing prices increased at their quickest rate since Q4 2006, according to Knight Frank. In the year to March 2021, the current Knight Frank Global House Price Index, which compares average prices in 56 nations and territories, grew by 7.3 percent.

Turkey has topped the rankings for annual price rise for the fifth quarter in a row, but when inflation is factored out, actual prices are rising at roughly 16% per year.

Aside from Turkey, the top ten is dominated by wealthy countries, including New Zealand (22%), the United States (13%), Sweden (13%), Austria (12%), and Canada (12%). (11 percent ).

With twelve countries experiencing double-digit price increases in the year leading up to Q1 2021, it's no wonder that concerns about post-pandemic housing bubbles are growing, but authorities are already taking steps to address the problem.

China, New Zealand, and Ireland have all interfered since January 2021, with a variety of measures ranging from tighter lending requirements to increased stamp taxes for multiple acquisitions. China is considering a national property tax, whereas Canada is considering a national vacancy tax.

Behind the headlines, Knight Franks says there are several large economies where strong price growth is elusive and sales have yet to gain traction - Italy (1.6 percent), India (-1.6 percent), and Spain (-1.8 percent) all saw lower price growth in Q1 2021 than a year earlier, owing to tighter lockdowns, economic concerns, or excess supply.

Source: Cambodia Compass comprehensive arrangement

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