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Single-family homes under construction in the Cadence Park development of The Great Park Neighborhoods in Irvine, California. U.S. home prices jumped the most in 30 years in April.

Single-family homes under construction in the Cadence Park development of The Great Park Neighborhoods in Irvine, California. U.S. home prices jumped the most in 30 years in April.

Photographer: Bing Guan/Bloomberg
Wealth
Real Estate

A Housing Frenzy Is Sparking Bidding Wars From New York to Shenzhen

Global property prices are rising at the fastest rate since before the financial crisis.

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Around the world, property markets are going bananas. 

From the U.S. to the U.K. to China, housing is riding an extended boom. Global valuations are soaring at the fastest pace since 2006, according to Knight Frank, with annual price increases in double digits. Frothy markets are flashing the kind of bubble warnings that haven’t been seen since the run up to the financial crisis, a Bloomberg Economics analysis shows.