Property prices drop globally
Property values have fallen across the world in Q2 2012, according to the latest survey of global property prices.
The Global Property Guide survey looked at property values in 38 countries, and found that prices fell in 24 and increased in 13.
Europe’s property prices were especially poor: values fell in 15 out of the 22 countries surveyed. Ireland’s housing market maintained its position as the weakest in the world – prices fell 16.85% in the last year. This was closely followed by Spain, dropping by 12.49%, and Greece, which fell by 11.92%.
The survey also showed that Poland and Cyprus are set to crumble.
However, in almost a third of countries surveyed, values of homes increased. Norway had a 6.26% rise in property prices, and Germany had 5.24%. Switzerland was close behind with 4.86% and Turkey with 2.57%.
The market that came out on top, however, was Sao Paulo, Brazil. With property prices rising 15.56% in the last year, Sao Paulo was the best performing market in the world.