Ranking of countries with the fastest growth in housing prices in 2022
The Global Property Guide has recently released a ranking of countries with the most rapid growth in housing prices in 2022. However, this growth was only witnessed in 20 countries, with 39 countries experiencing a decrease in prices after adjusting for inflation.
According to the report, the global housing boom has come to an end. The countries with the highest annual growth rates in housing prices, after adjusting for inflation, were Turkey (+63.02%), Ho Chi Minh City in Vietnam (+10.07%), Russia (+9.96%), Iceland (+9.78%), and Portugal (+7.74%).
On the other hand, Buenos Aires in Argentina (-51.76%), New Zealand (-18.13%), Bogota in Colombia (-17.38%), Hong Kong (-16.81%), and Riga in Latvia (-15.95%) witnessed the biggest declines in housing prices after adjusting for inflation.
The report also outlined changes in housing prices in popular countries around the world. Spain experienced a decrease of 0.64%, Germany dropped by 11.78%, Finland decreased by 10.20%, and Italy decreased by 9.34%. On the other hand, Montenegro saw an increase of 2.86%, Egypt increased by 3.37%, Georgia by 4.03%, Dubai by 4.14%, and the United States by 1.22%.
While the housing market is known for its unpredictability, the report suggests that the global housing boom has come to a halt. However, the ranking of countries with the most rapid growth in housing prices in 2022 provides valuable insight for potential investors and homeowners.