Q2 2013: Global house price boom accelerating further, led by Asia Pacific
by LALAINE C. DELMENDO
Sep 11, 2013
Global housing markets had their best performance since the boom years of 2006/7 during the year to the second quarter of 2013, based on the latest survey of house price statistics conducted by the Global Property Guide.
Using inflation-adjusted figures, the Global Property Guide's survey reveals that house prices rose in 30 of 42 housing markets which have so far published housing statistics. The more upbeat nominal figures, which are more familiar to the public, showed house prices rising in 34 countries, and falling in only 8 countries.
Asian housing markets lead the world. In Taiwan, house prices soared by 14.52% during the year to Q2 2013. In Hong Kong, house prices surged 13.7%. In Beijing, China, the price index of second-hand residential buildings rose by 10.69%. In Makati CBD, Philippines, the average price of 3-bedroom condominium units rose 9.98%. In Tokyo, Japan, the average price of new condominium sales soared 9.02%. During the year to Q2 2013, house prices also increased in Indonesia (4.76%), Delhi, India (4.57%), Thailand (3.76%), and Singapore (2.38%).