According to analysts of the Global Property Guide, some countries recorded over 10% growth in real estate prices in the second quarter of 2019. Let’s find out where property markets are booming right now.
Real estate boom 2019
In general, from 46 countries in the rating prices went up in only 26, Finance.ua reported.
Global analysts point to a slower price growth in 2019 as compared to the previous year, explaining it by slowing economies.
Countries of the Northern America are slowing down, while Middle East experiences political tensions and weakening oil prices. China has been affected because of trade wars.
However, in Europe prices for real estate are going up.
Leaders in growth in real estate prices
In the second quarter of 2019, property values went up in these locations:
- Puerto-Rico: +13,2%
- Montenegro: +11,7%
- Sri-Lanka: +10,6
- Chile: +9%
- Germany: +8.2%
- Netherlands: +4.2%
- Slovakia: +3.7%
- Lithuania: +3%
Drop in property values
Ukraine is one of the countries, according to the rating, where values had dropped in the second quarter of 2019 (-5.4%).
Turkey recorded even higher drops (-12.1%).
Other losers included Switzerland (-2,5%), Romania (-2,4%), UK (-1.2%), Finland (-1.1%).
In Ukraine, in July 2019 the average price of 1 square meter in newly constructed apartments was on the level of 20 thousand hryvnia (USD 820) for the cheapest budget units. Apartments of the ‘comfort’ level were priced at 24 thousand hryvnia ($970) per square meter, ‘business class’ – 37.5 thousand UAH ($1,520), premium class – 56,3 thousand UAH ($2,280).
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