Where Is The Biggest Property Boom?
March 27, 2012 by staff
Where Is The Biggest Property Boom?, Fancy a des res in Delhi or a mansion in Moscow? They may not be the first places you think of when you consider a holiday home location, but perhaps you should take a closer look. Because property prices in India and Russia have risen faster than anywhere else in the world, according to new research from Lloyds TSB.
It says that house prices in India have soared by a whopping 284% in the last 10 years – the biggest jump recorded in its Global Housing Market Review.
Homes in Russia have seen their value rocket by an enormous 209%, and third in the global hotspot list is South Africa, which experienced a rise in house prices of 161% between 2001 and 2011.
These impressive figures compare to a real term rise in property prices of 50% in the UK (taking into account inflation). In fact, we come in at number 13 in the bank’s global hotspots list – mid-table mediocrity among the 32 countries surveyed.
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