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News from Knight Frank Hong Kong

European property prices rise for the first time since 2010

11 September 2013

According to the latest Global House Price Index released by Knight Frank, house prices around the world rose by 2.4% in the Q2 2013, the highest annual growth rate since Q2 2010.

Highlights for Q2 2013:

• The Knight Frank Global House Price Index rose by 2.4% in the Q2 of 2013 and by 6.1% over a 12 month period

• Dubai recorded the largest rise on an annual basis (up 22%) while Hong Kong came second (up 19.1%)

• Greece recorded the largest annual fall in mainstream prices for the fourth consecutive quarter, declining by 11.5%

• The US and UK housing markets are gaining traction, recording quarterly growth of 7.1% and 2.6% respectively in the second quarter

• Europe recorded positive annual growth for the first time since 2010 but it remains the weakest performing world region