Expensive much? Israel has eighth largest rate of home price increase in the world
Israel still has one of the world's hottest property markets according to "Global Property Guide," defying reports that the housing market is cooling down. In the year ending September 30 2014, "Global Property Guide" reports that average home prices in Israel rose 6.43%, the eighth largest rate of home price rises of any country surveyed. Much of the rise 2.37%% - was in the third quarter of 2014, the ninth largest rise of any country over that period.
In the year ending September 2014, Dubai had the largest rise in home prices 23.73%, followed by Estonia with 15.30%, Ireland with 14.52% and the UK with 8.95%.
Between September 2012 and September 2013, Israel also had the world eighth largest home price rise with prices increasing 6.22%.
"Global Property Guide" writes, "In Israel the average price of owner occupied dwellings rose by rose by 6.43% during the year to Q3 2014, after year-on-year increases of 5.95% in Q2 2014, 3% in Q1 2014, and 5.38% in Q4 2013."
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