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?
Like this map and want to support Landgeist? The best way to support Landgeist, is by sharing this map. When you share this map, make sure that you credit Landgeist and link to the source article. If you share it on Instagram, just tag @Land_geist. On Twitter tag @Landgeist.
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.