According to the Global Property Guide, Estonia saw the world's fastest growing property prices with an impressive 54% increase in 2006.
Global house prices continued to rise rapidly in 2006, but at a slower pace than in 2005. Northern Europe leads the house price boom.
Northern European countries saw the highest house price rises in 2006, among the 40 countries monitored by the Global Property Guide (which maintains the world’s single biggest collection of house price indices).
Leading the charge was Estonia with an impressive 54% house price increase in 2006. This followed average dwelling price rises of 57% in 2005, and 25% in 2004.
Estonia was followed by Denmark which experienced 23% house price rises in 2006, then by Norway (14%) and Ireland (13%). Other countries in northern Europe also had impressive house price increases, including Sweden, UK, and Finland.
Early indicators suggest that Latvia’s strong house price growth will continue in 2006, following 27% house price rises in 2005. This will be verified as soon as official statistics come in.
Most countries in Central Europe, however, remained unexciting. 2006 saw very small price increases in Switzerland (2.9%), Luxembourg (2.9%), Germany (2.8%) and Poland (2.2%).
