16:10 PM, 19th March 2012, About 10 years ago
The secret’s finally out about the best performing international house markets for property investors over the past decade – and the results are not what most property people would think.
Top of the league is India, where prices have surged by 284% since 2001 – an average annual increase of 14%.
The UK returned a 50% increase over the same period – an average annual price raise of 5% and almost six times less than India over the decade.
Behind India comes Russia (209%), with South Africa snatching third place (161%).
The report, by Lloyds TSB International, shows that house prices tracked across 32 countries jumped by an average 56% across the decade, after stripping out inflation.
The countries with the fastest growing economies also returned the highest house price increases.
GDP has increased on average 155% in the 10 countries with the biggest rises in house prices – quadruple the average 43% rise in GDP in the 10 countries with the worst house price performance.
Three of the countries with the largest house price declines – Japan, Germany and the USA – were also members of the exclusive G8 club of countries with the largest economies.
Japan recorded the biggest fall in house prices (-30%), followed by Ireland (-23%) and Germany (-17%).
The UK returned a mid-table 13th place – but India, Russia, South Africa, Lithuania, Hong Kong and Bulgaria showed at least double the increase.
The eurozone saw an average 23% increase – with France (82%), Belgium (69%), Finland (61%), Spain (46%) and Italy (31%) pulling the average up while Ireland (-23%), Germany (-17%) and Portugal (-11%) dragged the figure down.
Suren Thiru, economist at Lloyds TSB International, said: “Overall, house price growth during the past decade was stronger in countries with the fastest growing economies.
“A house price divide appears to be opening up with the general outperformance of the housing market in emerging economies compared to more developed nations appearing to reflect the stronger economic performance of these countries.”
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
|_fbp||First||Helps to understand how their visitors engage with our website|