In the absence of effective stimulus global mainstream property prices are flagging, according to Knight Frank's latest global house price index.
The index rose just 1 percent year-over-year in the third quarter of 2012. Price growth in Asia is slowing, and the 12 countries at the bottom of the list are all from Europe.
However, some housing markets are booming.
We drew on Knight Frank's list of 55 countries and highlighted the 12 with the highest price increases.
Estonia
Q3 2011 - Q3 2012:
6.4 percent
6-month change:
4.0 percent
3-month change:
2.6 percent
Estonia's home prices began to recover in the second half of 2010, but Europe's sovereign debt crisis continues to be a risk to the country's housing market.
Source: Knight Frank
India
Q3 2011 - Q3 2012:
6.5 percent
6-month change:
3.9 percent
3-month change:
0.6 percent
"India is likely to see more polarization across city’s performances going forward as the economy absorbs some of the significant reforms that have been implemented over the last few weeks," according to Knight Frank's Nicholas Holt.
Source: Knight Frank
Iceland
Q3 2011 - Q3 2012:
6.6 percent
6-month change:
3.8 percent
3-month change:
0.7 percent
Some fear a housing bubble in Iceland as home prices are 1.7 percent below the pre-crisis peak inMarch 2008, according to Bloomberg. The rise in prices has been attributed to currency controls put in place to support the currency after the country's biggest banks collapsed.
Source: Knight Frank
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