The results reveal the following:
The report has shown that the housing market in Spain has greatly increased over 2019. This is mainly due to foreign buyers, the majority from England, France, Germany, Italy, and Sweden. Madrid real-estate costs about $3,276 per square meter making it the third most expensive housing market in Spain. Over 2019 the market increased by 4.2%.
Delhi holds 9th position as it faces a slowing housing market. Due to this, the government has made efforts to support the housing market by announcing it would reduce taxes on residential properties that are under construction. Over 2019 the market increased by 4.4%.
Out of all the cities Zurich had the lowest percentage of renting with negative interest rates. It is believed that these factors have driven investors to accept and buy properties. Over 2019 the market increased by 4.5%.
Geneva’s real estate market is well supported. The city has remained a favourite among people and is noted for its political stability. Over 2019 the real estate market in Geneva grew by 5.6%.
Guangzhou property market is very strong with the report revealed that over the last 5 years the market has grown by 92%. Guangzhou comes in as 6th as the market increased by 6.2% over 2019.
Prices for residential property have risen in Germany however due to low-interest rates investors have continued to but in their home country. Interest rates have fallen from 4.33% to 1.65% in nearly a decade contributing to the 6.5% growth in the real estate market for 2019.
Manila has reported steady economic growth over the years with increasing housing prices. This stability has contributed to the real estate market increase of 7.4% over 2019.
Property markets in Taiwan have picked up, many attribute this to the number of factories moving back to the area due to the trade war with China. Ricky Huang, general manager at Savills Taiwan commented: “They want to relocate back to Taiwan, so this boosts the transaction of industrial and office property.” The real estate market grew by 8.9% in 2019.
Research shows that Frankfurt has benefited from Brexit with many UK firms leaving the UK. As of January, around 25 UK based banks have moved from London to Frankfurt this has influenced the real estate market plays a role in the 10.3% increase seen in 2019.
Moscow, Russia takes the number one spot on the report. With high demand and numerous luxury projects completed in Moscow, the real estate market grew by 11.1% in 2019.
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