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Hottest real estate markets in the world
It is expected that the global real estate market will see some major improvements in the latter half of the year.
CNBC has worked out a list of world's 10 hottest property markets based on a study conducted by global real estate consultancy Knight Frank. This study ranks nations according to highest average growth in housing prices from the fourth quarter of 2006 to the same period in 2011.
To give a clear perspective, the national five-year averages reflect mainstream housing prices in most countries expect for China. Here, China only includes home prices in Beijing and Shanghai.
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Hottest real estate markets in the world
China
5-year price growth: 110.9 per cent
Ranking: 1
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Hottest real estate markets in the world
Hong Kong
5-year price growth: 93.7 per cent
Ranking: 2
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Hottest real estate markets in the world
Israel
5-year price growth: 54.5 per cent
Ranking: 3
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Hottest real estate markets in the world
Singapore
5-year price growth: 50.5 per cent
Ranking: 4
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Hottest real estate markets in the world
Colombia
5-year price growth: 39.4 per cent
Ranking: 5
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Hottest real estate markets in the world
Taiwan
5-year price growth: 30.1 per cent
Ranking: 6
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Hottest real estate markets in the world
Canada
5-year price growth: 28.7 per cent
Ranking: 7
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Hottest real estate markets in the world
Norway
5-year price growth: 28.7 per cent
Ranking: 7
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Hottest real estate markets in the world
Malaysia
5-year price growth: 28.5 per cent
Ranking: 9
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Hottest real estate markets in the world
Switzerland
5-year price growth: 27.5 per cent
Ranking: 10