International Housing Market Spotty
The international housing market improved in the first quarter of 2010 in 19 of 36 countries, according to a survey from Global Property Guide.
Conditions are much better in Asia, with home prices in Hong Kong up 27 percent from a year ago. Prices in Singapore were up 24 percent, and prices in Taiwan rose 18 percent.
Among European countries, strong recoveries were underway in Finland, where the market rose 11 percent; Norway, up 8 percent; and the United Kingdom, up 5 percent. Home prices in London rose nearly 16 percent in the last year, the report said.
However, conditions aren’t improving everywhere. Prices declined 6 percent in Spain, 14 percent in Iceland, 22 percent in Lithuania, and 32 percent in Latvia.
Source: Inman News (05/27/2010)