Q3 Global House Price Index Dulls Recovery Hopes, but Good News for Portugal
The Global Property Guide has recently released its figures on global housing markets in the third quarter. Their index is inflation adjusted which means it is a more accurate measure of prices than those that we normally see in the industry press.
According to the index, just 11 countries have seen prices rise in the year ending the 3rd quarter. Of those countries, Portugal, Finland and Sweden were the only countries in Europe to have seen prices rises during the period -- rises of 1.48, 0.92 and 0.78 respectively.
The only rise over 10% was in Israel, with prices up 10.15% over the period. Surprisingly Australia (8-cities) and Switzerland saw bigger rises than China. At 4.91 and 4.28 respectively, they beat China's 3.98% by a good margin. Hong Kong, Norway and New Zealand were the only other countries in positive territory with growths of 3.60% (RVD, 3.08% in KHU), 2% and 1.98% respectively.
At the other end of the scale; Latvia and UAE were by far the worst performers, with prices falling 59.70% and 48.05 respectively. The UAE is the most striking of all the data, because it shows the results for the year ending Q3 2008 beside that of year ending Q3 2009, a rise of 61.50 beside a fall of 48.05.
The index has put the recent positive reports on the US and UK markets into perspective; though it covered several indices for each of them, they saw prices fall between 2.18% and 7.45%, and 4.34% to 10.2% respectively. On the upside, the index showed that prices falls are over 1% slower than the same period last year.
Though Irish prices are down, the index gives cause for hope. The decline of 7.20% on the quarter, is slower than the year ending Q2 2009, and the quarterly decline has slowed to 2.93%.
This is by far the most accurate index we have seen so far; it is impartial, inflation adjusted and from a reputable and trusted source. It shows that the positivity contained in the Knight Frank index of prices in the second quarter, was flimsy and probably based on pre-inflation prices.
The GPG results will likely increase demand for Portugal property. Portugal has been among the most popular of all countries with the current wave of buyers, who are favouring the safety of established markets; which makes sense given the below market value offers that are currently in abundance.
Like this post? Subscribe to our feed by RSS or Email, join our newsletter(s) or leave a comment using the form below.
About the Author: Michael Sutton
Michael is a staff writer for SEO copywriting services company Write About Property.
View all Overseas Property Articles

Sponsors
Socialise with Us
Links
- Property, PR & SEO Blog
- Property Articles
- Overseas Property Articles
- UK Property Articles
- Press Releases
- Overseas Property for Sale
- SEO Copywriting
- SEO Copywriting Services
- Overseas Property Blog
- Scotland Website Design
- The Digital Coach Co
Latest Posts
UK Housing Market: No One Wants to be a First Time Buyer
Turkey Standing out as Brightest Emerging Market in Europe
The Overseas Property Investment Crash: Where it all Went Wrong
UK House Prices: Can We Really Avoid a Second Dip?
Turkish C.Bank Keeps Interest Rate at Current Low
Property in Spain August 2010: Is it Time to Buy Yet?
Bad Year Leads to High Availability of Cheap Holiday Deals
Turkish Air Travel Growth Continues Apace
Turkish Property has Potential to be as Popular as Europe's Greats
Emerging Property Markets 2010 Part I: Egypt and Turkey
Related Posts
Turkey Standing out as Brightest Emerging Market in Europe
The Overseas Property Investment Crash: Where it all Went Wrong
Turkish C.Bank Keeps Interest Rate at Current Low
Property in Spain August 2010: Is it Time to Buy Yet?
Emerging Property Markets 2010 Part I: Egypt and Turkey
Turkish EU Visa-Free Deal Nearing Completion
Alanya Property Market Could be Boosted by New Gazipasa Flights
Overseas Property Agents Must Up Their Game to Survive
Investment in Turkish Debts a Good Bet in Today's Europe
Overseas Property Appetite Up but Still a Bumpy Ride Ahead
Sponsored Links





Comment By: tridi.com
Date: 2009-11-26 12:52:16
Comment:
We have studied the Portugal Market for many years and have discovered that it is both stable with steady increases in value. Whilst a good independent Lawyer is essential it is relatively honest compared to many markets. It has never, and probably will never, offer a quick return.
But then you will never get a Dubai headache.
Always negotiate strongly and always compare prices with local sites such as casa.sapo.pt and you should be able to get a well priced property in a beautiful and safe Country. Best bargains are currently in the area East of Coimbra with exceptional scenary.