After several years of strong house price increases, the world’s housing markets are now slowing dramatically.

The global house price boom is now running out of steam, which is not surprising given the combined adverse impacts of increasing interest rates, soaring inflation, global economic slowdown, and supply chain disruptions which was aggravated further by the Ukraine crisis.

House prices rose in 49 countries, and declined in only 9, of the 58 world’s housing markets which have so far published housing statistics during Q2 2022. But this is actually an illusion! High inflation in most countries makes it appear that house prices are still rising strongly.

Most of the world’s property markets are booming. House prices rose in 49 countries, and declined in only 10, of the 59 world’s housing markets which have so far published housing statistics, during the past year. (Property statistics are usually issued with a delay of 3 months - these Q1 2022 statistics are the latest stats available).