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Real Estate Around the World

So the economy has been recovering and so is the real estate situation in the U.S. The local West Palm Beach movers have noticed the recovery is at slow, steady pace with some markets doing better than others. For example, in the West Palm Beach area, there’s still a high vacancy rate. As far the the worldwide real estate market, the most recent global house price index indicates Asia is slowing down and the 12 worst countries are in Europe.

The West Palm Beach moving specialists however researched Knight Frank’s global house index and learned all about the hottest real estate markets around the world. We thought we’ll share with our customers, in case some of you are looking to invest or purchase vacation homes. The most popular real estate destinations are based on the largest home price increases.

Let’s get started. Estonia is on the list because it has seen a 6.4% increase compared to last year. The country’s home prices actually started going up again back in 2010. India saw a slightly higher price increase with 6.5% compared to last year. In the last six months alone, home prices in India increased 3.9%. Iceland follows closely at 6.6%, however some experts fear that a housing crisis will take over the country since home prices are 1.7% below the pre-crisis peak of March 2008. The local West Palm Beach movers learned the increase in home prices is attributed to currency controls that supported the banks after they collapsed. 

Norway saw an full 7% increase from the third quarter of 2011 to the third quarter of the following year, with a 3.8% increase in the last six months. However, many think the housing bubble will hit the European country. In fact, Norway’s prime minister stated there’s a housing shortage and home prices can go up. Malaysia stands at a 7.3% increase, China at 7.7% with a 12.8% increase in home prices in the last six months. However, in Shanghai and Beijing there was a 7.1% decline year-over-year. Other cities have affordable housing, which is why there’s more demand and steady increase in price. The local West Palm Beach movers learned Austria had a spectacular 10.1% increase in home prices in the last year, however not much change in the last six months with a mere 0.2% rise. Home prices have been going up the most in Vienna, but the market still risks the European sovereign debt crisis. 

So have you made up your mind? The local West Palm Beach moving specialists want to know where your buying your second home.