Iceland and Hong Kong – the World’s Hottest Housing Markets


Polar opposites if you pardon the pun - Iceland and Hong Kong have topped Knight Frank’s Global House Price Index for Q1 2017.

The glacial island nation and Chinese SAR posted an average price growth of 17.8 percent and 14.4 percent, respectively, in the year to March 2017, leading nine other countries that posted double-digit price growth during the period tracked. A year earlier, only four countries fell into this bracket.

Around 9,000 new apartments need to be delivered over the next three years in Reykjavik alone to keep pace with demand, according to Kate Everett-Allen, partner with International Residential Research at Knight Frank, citing data from Iceland’s Housing Financing Fund.

Hong Kong continues to see price growth despite newly introduced lending restrictions. However, property curbs seem to have done its intended effect in mainland China, which dropped from seventh place to 10th worldwide on the index with a 10.3 percent growth. The headline national figure is somewhat tempered by weaker growth in some of the smaller Tier-3 and Tier-4 cities.

Prices in 55 countries were monitored in the index, which grew 6.5 percent between Q1 2016 and Q1 2017, its highest growth rate in the past three years. Three of the top 10 strongest growing markets globally were in Asia-Pacific at the end of the first quarter of 2017.

Abode Affiliates

  • Alleyne Real Estate
  • Blevins Franks
  • Coldwell Banker
  • Crane Resorts
  • Dost & Co
  • The Hideaways Club
  • Monaco Real Estates
  • RDO
  • Rosemont Consulting
  • St Francis Links
  • Unique Home Stays
  • Yoo
  • Worldwide Dream Villas
  • Cyan International Properties
  • Enigma Yachts Limited
  • Cornerstone Tax Advisors
  • Lida Cucina
  • Pedini London
  • Alexander James
  • Wings
  • Moore Stephen
  • Ibiza Transit Express
  • Oyster Yachts
  • Destinology
  • Jumeirah
  • Knight Frank
  • Wall Street Luxury
  • Heron Real Estate
  • Edenhurst
  • MG&AG
  • Gama Property
  • Touch Design Group
  • CID
  • St Edward
  • Ultra Villa
  • Luxury Italian Living
  • Habitat First Group
  • BDO
  • 7Storeys
  • Smart Currency Exchange
  • Strutt and Parker
  • Prestige Architects
  • Worldwide Property
  • Panorama
  • Dimora
  • Dominic McKenzie Architects
  • The Coastal House
  • Chamonix Ski Chalet
  • Luxe Caribbean Properties
  • Harry Manning
  • Smart Living
  • Isle Blue
  • MAS Marbella
  • London Fractions
  • QTD
  • Page Architects
  • Millgate
  • Jersey Finance
  • guernsey-relocations-logo
  • viberts-logo
  • b-williams-management
  • kpmg-logo
  • author-interiors

Enter your dream destination