First quarter home prices in Israel were 12% higher than in the first quarter of 2009.
The global residential real estate recession is officially over, and Israel had the fifth highest rise in home prices in the first quarter of 2010, compared with the corresponding quarter of 2009, according to a survey by Global Property Guide. First quarter home prices in Israel were 12% higher than in the first quarter of 2009 and 2.92% higher than in the fourth quarter, in inflation-adjusted figures.
Hong Kong led the rankings, with a 27.15% rise in home prices over the year; followed by Singapore, with a 23.88% rise; Taiwan, with an 18.46% rise; and Australia (eight cities), with a 16.58% rise.
Israel was in first place in the Global Property Guide for the first quarter of 2009, with a 5.52% rise in home prices compared with the fourth quarter of 2009. In the survey for the second quarter, Israel was again in first place, with an 8.4% rise in home prices compared with the corresponding quarter of 2008. Israel was also in first place in the survey for the third quarter.
Published by Globes [online], Israel business news - www.globes-online.com - on May 27, 2010
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