Real estate recovery is global, well except for the Ukraine

As reported by IMF Global Housing Watch global real estate prices increased 2.1% in 2014 to a six-year high. But not every country participated. The first chart shows the overall picture; the second shows the difference between recovering and rebounded markets.

“The ‘recovering’ group consists of 34 economies in which house prices in general dropped sharply at the onset of the Great Recession and the subsequent recovery has been slow. The second cluster comprises 25 economies where housing markets have ‘rebounded’: the drop in house prices in 2007-08 was more modest and was followed by a quick rebound .”

The largest gain was seen in Qatar at 33%, followed by Ireland at 16% and the UK at 9%. Losers included China at 5% and Russia at 6%. And invading Ukraine may have helped Mr. Putin’s popularity at home, but the 54% decline in Ukraine’s real estate prices in 2014 probably didn’t win him many friends among homeowners there.

As for the US, 2014 saw an increase of 3%, ranking the US in the middle of the pack.

Source: IMF

If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com.

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Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated

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