(2) Realty News - 05/08/13 Only 12 of 43 nations see big growth - TopicsExpress

(2) Realty News - 05/08/13 Only 12 of 43 nations see big growth in realty Source : The Times Of India In the past two years,for which comparable data is available,only 12 of the 43 countries saw double-digit growth in property prices.Most of these are emerging economies,not surprising given the fact that Europe has been battling the centurys worst recession.Other countries where property prices went up by more than 10% are Turkey,Estonia,Philippines,Norway,Iceland,Indonesia,South Africa and New Zealand. The data indicates that property prices in America,the worlds largest real estate market,are increasing as its economy recovers.The US real estate market saw prices appreciating by 9% between Q1-2012 and Q1-2013 after declining over the previous year.Similarly,Beijings property prices too registered 8% growth during Q1-2012 to Q1-2013 after dropping in the previous year. In India,nearly all cities have witnessed an upswing in property prices.RESIDEX,the National Housing Banks property price index,indicates that only two of the countrys 15 big cities have witnessed a fall in property prices since 2007 the base year of the index.

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