Israel has world's ninth largest home prices rise

A dramatic picture of house prices rising around the world is revealed by the latest Global Property Guide house price survey, for the year to the 1st quarter of 2013. This is the most significant global acceleration in house prices since the boom years of 2007.

In the year ending March 31 2013, "Global Property Guide" reports that average home prices in Israel rose 6.34%, the ninth largest rate of home price rises of any country surveyed. Half of the rise - 3.12% - was in the first quarter of 2013, the seventh largest rise of any country over that period. In the year ending March 31 2013 Dubai had the largest rise in home prices - 28.02%, followed by Hong Kong with 20.14%.

"Global Property Guide" writes, "The Middle East 's housing markets remain strong. Dubai, UAE, is the world 's best performer. (...) Likewise in Israel, the average price of owner-occupied dwellings rose by an inflation adjusted 6.34% during the year to Q1 2013 (or 7.85% without taking inflation into account). It is the largest rise in 2 years after year-on-year increases of 4.12% in Q4 2012 and 3.14% in Q3 in 2012, and declines of 0.46% in Q2 and 3.33% in Q1 2012."

Source Globes