The latest Global Property Guide house price survey reveals that the number of markets around the world currently experiencing rising property prices is at its highest level for more than six years.
According to the survey, in the first quarter of 2013, nominal house prices rose in 30 of the 42 countries to have so far published housing statistics, and fell in only 12.
The highest quarterly price gains were experienced in Dubai, with average prices in the emirate increasing by 6.87 per cent in the first three months of this year – and by more than 28 per cent compared to a year ago.
House prices in Japan (6.39 per cent), Poland (4.81 per cent) China (4.52 per cent) and Hong Kong 4.13 per cent) also recorded noticeable increases in the first quarter of 2013.
On an annual basis, Hong Kong recorded the largest property price rises after Dubai (20.14 per cent), while the United States (8.31 per cent), Turkey (8.13 per cent) and India (7.61 per cent) have also enjoyed healthy price rises since the first quarter of 2012.
Most of the worst performing property markets – both on an annual and quarterly basis – were based in Europe. However, even there it appears the markets are improving with price losses for the first three months of this year much less than they had been compared to a year before. Greece recorded the largest price decreases on an annual basis (-11.53 per cent), while the biggest quarterly drop in prices were seen in Portugal (-3.96 per cent).
A similar report carried out last month by Knight Frank found similar patterns to this survey, noting a 6.6 per cent global property price increase in the first quarter of this year.