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Poll: Worldwide realty slump seems to skips Israel
New international poll surveys real estate market in 32 countries for Q1 2009, notes 27 nations see steady slip, Israel among five countries to see slight price hike
Real estate prices have continued to drop over the first quarter of 2009, a recent overview of the international market has found.
A survey looking at the real estate market in 32 countries worldwide found that in 27 of them, the market experiences a considerable slump, with a drop of over 10% in prices compared with the fourth quarter of 2008.
Five nations, however, have displayed real estate resilience, noting a positive trend in local markets: Realty prices in Israel went up by 3% in Q1 2009, Switzerland saw a 4% increase, and a similar one was noted in Austria and Thailand.
According to the survey, the two countries to suffer the most from the financial crisis-driven real estate slump were Dubai (-35%) and Latvia (-50%).
The US market is showing little signs of bouncing back, and reports indicate prices are still floundering.
Calcalist contributed to this report
