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Global housing market - statistics & facts

One of the most universal signs of success and prosperity is home ownership. It serves both as a source of stable and secure housing and as a long-term investment. However, housing prices vary considerably across countries and cities. As of 2020, Hong Kong SAR was the most expensive city for housing property, with the average residential property costing more than 1.25 million U.S. dollars. Singapore also ranked as one of the most expensive property markets worldwide. Furthermore, since the outbreak of the coronavirus (COVID-19) pandemic, housing markets all around the world have been booming. The OECD, for instance, lists Turkey as one of several countries in the world where real house prices increased since 2020 - although other estimates also exist.


Why are house prices going up?

There are many factors that can lead house prices to change. The price of a new U.S. single-family home, for instance, dropped significantly between 2005 and 2011, coinciding with the global financial crisis unfolding during that time. This had changed since the COVID-19 pandemic, however, with the sales price of a house being around 409,000 U.S. dollars in January 2021. Due to various fiscal and monetary measures introduced to tackle the economic impacts of the coronavirus pandemic, demand has surged, while supply has struggled to keep up. The Canadian housing market mirrors the U.S. market somewhat, with the home ownership costs to household income ratio ub Vancouver and Toronto significantly exceeding the national average in 2020. Europe, however, saw some of the lowest mortgage interest rates on record that year, leading to an increase in consumer confidence and transaction volumes, despite the difficult economic climate.


The situation in Asia Pacific

Asia Pacific, as the most populous world region, is also home to an enormous housing market. Housing sales across India, for instance, were highest in the metropolitan region surrounding Mumbai - reaching nearly 50,000 sales in 2020. Asia is also home to some of the most expensive and fastest-growing housing markets in the world. In 2006, a private permanent housing flat on Hong Kong Island cost around 49,000 Hong Kong dollars per square meter, and by 2019 this figure had exceeded 183,000 Hong Kong dollars. Nevertheless, the house-price-to-income ratio in some Asian countries was lower than in most other countries in the world.

Interesting statistics

In the following 4 chapters, you will quickly find the 29 most important statistics relating to "Global housing market ".

Statistics on the topic

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