Not long ago, Forbes published a ranking called “The Hottest Real Estate Markets on Earth.” Dubai also shines on the prestigious list. Moreover, it occupies the second position in it.
The publication rates the hottest real estate markets for 2012 and it is based on the increase of the average house prices. For Dubai, the average house price last year managed to jump by nearly 20%, or so some say and others report.
Although a title that says “the second hottest real estate market” does not sound bad, Dubai may soon take the first position on the ranking, currently occupied by Hong Kong. That is due to the fact that various reports for the first quarter of 2013 have found that both home buyers and investors are already exhibiting higher interest in the city’s property market. But to see whether that will actually happen or not, we will have to wait a few more months.
Meanwhile, we can take a look at the complete list of Hottest Real Estate Markets for 2012.
- Hong Kong – Housing demand and values in Hong Kong is currently rising with great speed. That is namely what makes this place the most attractive market for real estate. Only for a 12-month period, prices in Hong Kong have jumped with more than 23%.
- Dubai – Knight Frank recently reported that in 2012, the real estate prices in the City of Gold have increased by 19%. Now a three bedroom apartment in Princess Towers will cost you nearly $850,000.
- Brazil – Housing prices in Brazil in general are going up. Over the last one year, they have jumped with nearly 14%. Moreover, prime properties in the country come at prices that go over $2 million.
- Turkey – Even though property prices in Turkey marked an increase of 10.5%, you can still find a rather “affordable” development in Istanbul for a little over $180,000.
- Moscow – After the 2012 10.2% housing price rise in the Russian capital, a penthouse with two bedrooms can be found for about $3.5 million.
- Austria – The real estate jump in Austria for the past one year is equal to 10.1%. There, you can buy a nice spot in the country’s high mountains for more than $650,000.
- Taiwan – Although property market in Taiwan increased with less than 10% for 2012, a four-bedroom mansion in the countryside will cost you more than $17 million.
- China – Property prices in China are 9.3% higher when compared to a year ago. Those of you planning to buy a real estate in Shanghai’s most popular districts will need to prepare more than $1 million.
- India – An 8.5% property rise was registered in the country in 2012. As a result a 3-bedroom home in Mumbai’s district Adheri East will cost you about $420,000.
- Columbia – Just behind India is Columbia with a housing price increase of 8.3%. Currently, a 1,100 sq. foot apartment in Cartagena’s Bocagrande will be yours in exchange of only $370,000.
