Global Real Estate Markets - Performance Varies Across Countries
Recent research by international real estate firm Knight Frank revealed that in some countries real estate is still performing very well (like in Israel), while others like Dubai and Singapore have performed dismally. Here are the highlights of the study:
- Global housing markets continue to struggle in a recessionary environment
- The rop performing markets over the 12-month period ending in March 2009 were Israel (+10.9%) and Czech Republic (+9.9%)
- The weakest markets were Dubai (-40%) and Singapore (-16.2%)
- The short term economic outlook suggests that the world housing markets will continue weak for the rest of 2009.