The global property market recovery is continuing apace. The latest figures released by Knight Frank suggest that 61 per cent of countries surveyed by the real estate agency recorded positive value growth in the 12 months to mid 2010.
Added to this, the company says that data from the second quarter of the year points to the recovery continuing through to 2011.
The UK, France, Italy, South Africa and Germany should report modest two to three per cent gains in 2011, the report added.
In Asia growth should slow, but Hong Kong will still see values jump by 12 per cent and Singapore by three per cent. Meanwhile, prices in the US are expected to remain stable - despite the county experiencing a "second wave" of difficulties.
Prices and demand in the recovering markets has been bolstered by much cross border trading, with many 'international' markets extending their purchasing activity. As an example of the importance of this market, in the 12 months to June this year, 50 per cent of all new-build apartments in central London were bought by foreign nationals.
- Friday 24 September 2010