India and Brazil’s home prices are the hottest in the world, according to the latest report by Global Property Guide. And these figures reflect changes in real home prices, which are adjusted for inflation.
Home prices in Delhi, India surged 25.26 per cent year-over-year (y-o-y), and 6.62 per cent in the fourth quarter on a quarter-over-quarter (q-o-q) basis. And home prices are expected to continue to climb as India’s central bank indicated that they could pause monetary tightening to allow economy to gather steam.
In Sao Paolo, Brazil, home prices jumped 19.79 per cent y-o-y, and 3.93 per cent q-o-q. But Brazil’s mortgage market is expanding rapidly, its overvalued currency and high inflation have got many worried about a property bubble in Brazil.
Overall, home prices fell in 22 of the 35 countries surveyed. The slower than expected global economic recovery, ongoing sovereign debt concerns, weak consumer confidence, and high unemployment pushed down prices in global property markets.
Now here’s a chart from Global Property Guide that shows how home prices changed across 35 countries:
Photo: Global Housing Market