(Source: The National Post)
There’s nothing like a look at what’s happening in the real estate markets around the world to put Toronto’s mini-slump of last year into context. The Global Property Guide finds the world’s housing markets “recovering unevenly.” Third-quarter stats from the 27 nations that have so far reported, show that 17 have posted house price declines versus 10 that have risen. Decliners include some sporting very deep price dives, such as Latvia (off 59.7%), the UAE (-48.1%), Bulgaria (-28.7%), Iceland (-21.2%), Russia (-19.5%), and Slovakia (-15.3%).
The best performer? Israel, again. For the second quarter in a row, Israel’s gains have beat everyone else’s. This past quarter, the country posted a 10.15% price gain in the quarter (beating its second-quarter increase of 8.4%).
Read the full article “Israel leads the world in house price recovery” in the Vancouver Sun (November 28, 2009).