The second quarter survey by "Global Property Guide" indicates signs of recovery in some residential real estate markets around the world. The survey found that housing prices in Israel were 8.4% higher in the second quarter of 2009 than in the corresponding quarter of 2008 - the highest growth in any market in the survey.
"Global Property Guide" said that housing prices rose in the second quarter in seven countries where they had fallen in 2008: China, Portugal, Australia, New Zealand, France, Sweden, and Hong Kong. However, housing prices in most markets were lower in the second quarter than in the corresponding quarter, indicating that the crisis in the global residential real estate market is not yet over.
Housing prices in Australia rose 3.73% and in New Zealand by 3.31%, compared with the corresponding quarter.
Housing prices in Switzerland rose by 4.9% in the first half of 2009, though the rise in the second quarter compared with the corresponding quarter was negligible.
Published by Globes [online], Israel business news - www.globes-online.com - on August 26, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009