Istanbul leads the world’s annual rankings

The pandemic-induced housing boom continues with prices rising by 9.2% on average across 55 countries and territories in the year to June 2021.  A breakdown by developed and developing economies, however, reveals a more nuanced picture.  Ten of the world’s developed economies averaged price growth of 12% in the 12 months to June, double that seen in key developing markets (4.7%).

Turkey (29.2%) leads the annual rankings, but its rate of growth is slowing.

Several key economies including New Zealand (25.9%), US (18.6%), Australia (16.4%), Canada (16%) and Russia (14.4%) also make it into the top ten. In total, 18 markets registered double digit price growth, up from 13 last quarter and seven a year ago….Read more