The annual rate of increase in prices in our country remains relatively stable, but the world market is generally slowing down
Bulgaria moves to the 10th place in the world from the 56 housing price growth markets in the third quarter, according to data from the consulting company Knight Frank.
With relatively stable annual property price growth and accelerated quarter-on-quarter growth, our country climbed six places in the ranking against its second quarter position due to the fall of some TOP 10 markets in the world and the overall slowdown in the global housing market .
The annual house price growth reached 8.6% in the third quarter compared to 8.8% in the second quarter, the company reports. For the quarter, prices in Bulgaria increased by 2.4% compared to 1.8% in the second quarter.
The world's fastest-rising world housing leader remains Iceland with an annual increase of 20.4% for the July-September period and 3.6% for the quarter. This represents a slowdown compared to the April-June period, when the annual increase was 23.2%.
Hong Kong remains second with an annual increase of 17.5% compared to 21.1% in the second quarter. The Czech Republic pushes Malta and stands at third place with an annual price increase of 11.5%, while Malta remains fourth with an increase of 11.5%.
Canada ranks fifth, followed by Turkey, Australia, Latvia and India.
Ukraine remains the weakest housing market in the world with annual price declines from 6.7% in the third quarter and 3.2% in the quarter.
Second is Saudi Arabia, which was first included in the list with an annual price drop of 5.4%. Third is Greece with 0.7%.
Top 10 of the world's weakest property markets are complemented by Brazil, Singapore, Japan, Italy, Taiwan, Cyprus and Finland.
Knight Frank's global house price index rose 5.1% yoy in the third quarter versus 6.3%. This is also the slowest rise in the index since the beginning of 2016, the company said.
In almost half of the markets surveyed, there was a slowdown in price increases. The slowdown is most visible in the top 15 markets - 13 of them are calming for July - September compared to April - June.
Estonia, Hungary and New Zealand are falling from the top ten on the list, with New Zealand falling to 27th because the rate of price hike dropped by half from 10.4% to 5.2%.