Israel sees 2.92% rise in real estate prices in Q1
Photo: Nimrod Glickman
Israel has been ranked fifth in the list of countries which recorded the sharpest rise in real estate prices, with a 12% leap in housing prices over the past year and a 2.92% rise in the first quarter of 2010.
The figures were revealed in an annual survey conducted by the Global Property Guide company, which examined the change in real estate prices in 36 countries over the 12 months which ended in March 2010 (the end of the year's first quarter).
Nineteen of the 36 countries surveyed recorded a rise in real estate prices. In the 15 countries which saw a drop in prices, it was slower in 2009 than in the previous year. The only countries said to be in a deep real estate crisis are Ireland, Bulgaria and Thailand.
Asia recorded sharp rises in real estate prices, with Hong Kong, Singapore and Taiwan taking the first third places on the list.
The fastest growth was recorded in Hong Kong, where real estate prices jumped by 27.15% over the past year. Singapore came in second with a 24% rise, followed by Taiwan (18.5%) and Australia (16.5%).