What do Canada, Norway, Colombia and Hong Kong have in common?
Each country has a place in a list of top performing real estate markets compiled by the global property consultancy, Knight Frank.
The top performers were determined by measuring the price growth over five years (Q4 2006 to Q4 2011). Canada came in at number 8, with a 28.7 per cent increase in prices over the last five years.
Not bad. However, Canada’s increase pales in comparison to those witnessed in Singapore (50.5 per cent), Israel (54.5 per cent), Hong Kong (93.7 per cent) and China (110.9 per cent). Those are some pretty incredible numbers.
With that being said, the main thrust of the report was that global house prices are in the doldrums. The Knight Frank Global HPI fell by 0.3 per cent in the final quarter of 2011 — the weakest quarterly performance since Q2 2009.
But with so many markets booming, there are still plenty of reasons to be optimistic.
Here’s the full top 10 as printed in the Knight Frank report:
1. China 110.9% (5-year % change)
2. Hong Kong 93.7%
3. Israel 54.5%
4. Singapore 50.5%
5. Colombia 39.4%
6. Taiwan 30.1%
7. Norway 28.7%
8. Canada 28.7%
9. Malaysia 28.5%
10. Switzerland 27.5%