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New Juwai Q4 2014 Global Property Index Report released

By Juwai, 13 April 2015
juwai global property index report

The quarterly Juwai Global Property Index (GPI) Report is designed to help Chinese buyers make informed decisions about overseas property purchasing by providing them with global housing market intelligence.

Based off comprehensive analysis of global property markets and inflation-adjusted data, this quarter's report shows that overall, the global real estate market maintained its buoyant momentum.

Of the world’s 39 markets that published housing statistics in 2014, 31 markets witnessed rising house prices, while only 8 markets declined.

Europe is presently riding high. Not only does Ireland reign as the top performing and world’s fastest growing real estate market, but 17 other European countries also charted booming price gains.

Elsewhere, housing markets in the US, Dubai, Australia, New Zealand, and Brazil continue to show sustained growth, albeit at a slower pace. Asian markets, however, generally slowed – except for Japan and Hong Kong, which showed outstanding performance.

Here are some highlights:


European markets leading the way

  • Ireland housing prices soared 16.62% – a staggering increase from its 6.18% growth in 2013.
  • Estonian house prices surged – residential prices in Tallinn rose 12.59%.
  • Swedish, Turkish, and UK home prices rose by 8.78%, 8.05%, and 7.33% respectively – a significant rise from 3.8%, 2.32%, and 4.88% last year.
  • Other European property markets projecting striking performances – Iceland (+5.18%); the Netherlands (+4.12%); Riga, Latvia (+3.7%); Lithuania (+3.61%); and Norway (+3.61%).


European markets with decline or weak growth

  • Ukraine suffered a decline of -48.85% in Q4 – a 9.7% fall from Q3 2014.
  • Russian housing prices tumbled -6.15% – compared to -5.86% in 2013.
  • Greek housing prices fell -4.34% – an improvement from its -8.06% decline in 2013.
  • Other European markets that noted a slight drop – Spain (-1.96%); Finland (-1.88%); Romania (-1.78%); and Portugal (-0.52%).


Pacific and Gulf markets rally but at weaker strength

  • Dubai housing prices increased 12.98% – compared to 21.52% in 2013 and 21.64% in 2012.
  • Israel’s home prices leapt 8.65% – its biggest gain since 2010.
  • Australian and New Zealand’s housing markets are weakening – housing prices in Australia’s 8 major cities rose only 5.25%, while New Zealand gained by only 4.6% in 2014, compared to 8.02% in 2013.


North American home markets sustain growth but at a different pace

  • US housing prices experience slowdown – housing markets increase 3.85% in 2014, compared to 9.1% in 2013. However, new US housing construction and housing transactions continue to rise.
  • Canadian housing market extends gains – residential prices in 11 major cities grew 3.47% in 2014, the largest annual increase since Q2 2012.


Roaring Asian housing markets with outstanding performances

  • Tokyo, Japan housing prices soared by 8.34% – a marked increase from last year's 3.91% gain.
  • Hong Kong experienced a substantial price hike of 8.03% – compared to 3.3% in 2013.
  • South Korean home prices rose 0.86% – an improvement from last year’s decline of -0.81.


Majority of Asian real estate markets remain weak

  • Singapore prices continue to fall – prices dropped -3.85%, compared to its decline of -0.9% in 2013.
  • Indonesian market shows weak growth – 14 major cities housing prices edged up by merely 0.39%, compared to 2.93% last year.
  • Philippine housing rally slows – Makati CBD 3-bedroom apartment prices rose 4.29%, a sharp drop compared to the 9.86% growth of the previous year.


Other property markets of note

  • South Africa continues its moderate growth – medium-sized apartment pricings showed an upsurge of 2.62%, an increase from its 1.3% decline in 2013.
  • Brazilian real estate market undergoes downtrend – Sao Paulo prices gained 0.83% in 2014, a contrast to its double-digit gains in the past 5 years.


Conclusion: The global real estate market retains its thriving momentum. However, the subsequent 14 years will bring two kinds of different global developments. While some countries and regions experienced slower growth – including the American, Asian, and the Pacific regions – Europe is showcasing excellent performance, and may very well continue to lead the global market.

Want the full GPI report in Chinese? Download it here.