The General rise in real estate prices amounted to only 2.3% in 2018 in 17 cities around the world, analyzed Savills.
This is less than the rise of 3.3% in 2017, and the lowest value since the global financial crisis. The highest growth in property prices – 9% in 2018 was observed in Berlin. But China Shenzhen turned out to be a long-term winner over the past five years, housing prices in the city increased by 101.1% over a 10 – 387,5%. However, the most expensive city in the ranking was Hong Kong. The average cost of housing in the city currently stands at $48 000 per square meter after expanding by 7.3% in 2018, according to Global Mansion.
In cities where prices fell last year, the main decrease was observed in the first half, indicating a future upward trend. Only in new York there was a sharp drop in the second half of the year than in the first because a plethora of new projects “pacified” prices in the market. Housing in new York fell by 4.3%. Worse things were in Moscow and Dubai – a decline of 4.6% and 6% respectively.
Even London is suffering from uncertainty due to Breccia, did not record a sharp fall in prices: 2.7% as a whole in 2018, but a slower pace of decline only 0.7 percent in the second half.
By the way, recently experts have called the most powerful country in the world.
TOP 10 strongest real estate markets in 2018:
Hong Kong – $48 000/sqm
Tokyo – $33 370/sqm
New York- $28 090/sq m
London – $20 240/sq. m
Shanghai – $18 730/sq. m
Sydney – $18 080/sqm
San Francisco – $17 550/sqm
Singapore – $17 120/sq. m
Paris – $16 580/sqm
Shenzhen – $15 720/sq. m.