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Global Home Prices Rise Most Since 2006, Fueling Bubble Concerns

  • Turkey tops the list, followed by New Zealand and Luxembourg
  • Several countries have begun taking steps to curtail frenzy
Canada Housing Starts Soar To Highest Since At Least 1970s
Photographer: James MacDonald/Bloomberg

Housing prices worldwide are rising the most since before the global financial crisis, following a market frenzy seen in places from New Zealand to Canada to Singapore during the pandemic.

Average prices jumped 7.3% in the 12 months to March, the fastest pace since the fourth quarter of 2006, Knight Frank’s Global House Price Index report showed Thursday. Turkey topped the list, registering 32% growth, followed by New Zealand at 22.1%. The U.S. took fifth spot at 13.2%, its steepest increase since December 2005.