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Saturday, 02.08.2025, 13:13
Latvia registers third fastest decrease in housing prices in Knight Frank global house price index
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The global house price inflation in the 4th quarter of 2007 stood at 8.2%, compared to 9.7% in the fourth quarter of 2006.
Bulgaria tops the index as the country with the greatest annual price growth – 33.7%. The price of housing in Singapore grew by 31.3% in the fourth quarter of 2007, whilst the price of housing in Russia grew by 30%, when compared to the fourth quarter of 2006.
On the other hand, the most rapid decrease in the price of housing in the 4th quarter of 2007 was registered in Estonia – by 14.5%, and Ireland – 7.3%.
The price of housing in Lithuania increased by 1% last quarter.
A year ago, all three of the Baltic states registered rapid increases in the price of housing. In the 4th quarter of 2006, the price of housing in Latvia increased by 66.6%, in Estonia – by 23.8%, and in Lithuania – by 23%.
"The Knight Frank global house price index shows that while property prices in Europe and America appear to be suffering from the downturn in economic conditions, prices in Asia and elsewhere, notably Singapore and Hong Kong, are performing very well," said Liam Bailey, head of residential research at Knight Frank.
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