Real estate prices are at an all-time high in a lot of countries and have increased significantly in the past year. But how much have real estate prices increased in the past year?
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So far in 2021, we’ve seen almost every asset increase significantly in value. One of the assets that affects a lot of people, is real estate. Despite the world being hit with COVID-19, a lot of asset prices are skyrocketing. In many countries this includes real estate. Some countries have seen the highest increase in real estate prices since a long time.
Real estate agency Knight Frank compared the residential house prices from Q1 in 2020 to Q1 in 2021 across 56 countries. On average, house prices increased by 7.3%. Thirteen countries saw a double digit increase in house prices. Which makes it no surprise that the talk of a post-pandemic housing bubble is increasing.
The highest increases by far, are recorded in Turkey (32%) and New Zealand (22.1%). Luxembourg (16.6%), Slovakia (15.5%) and the US (13.2%) also recorded a large price growth. Other countries with a double digit price growth are Sweden (13%), Austria (12.3%), the Netherlands (11.3%), Russia (11.1%), Norway (10.9%), Canada (10.8%), the UK (10.2%) and Peru (10%).
Despite all those massive increases, the housing market is not booming everywhere. Large economies like Italy (1.6%), India (-1.6%) and Spain (-1.8%) all recorded small growth or even a small decrease in price.
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