It’s been quite the decade economically in many parts of the world, and it shows in the values of homes.
Home values have more than doubled over the last 10 years in eight countries and territories across the world, according to a New York Times analysis. The analysis ranked places by the percentage increase in home values over the last 10 years, five years, and one year.
Nowhere have estimated home values increased by more than in Hong Kong. A house there is likely worth 193 percent more today than it was in 2010, according to the Times. In Brazil over that period, home values have shot up 152 percent.
The other countries where values increased by more than 100 percent are Peru, Chile, Estonia, Colombia, Malaysia, and Iceland. The U.S. didn’t make the top 15 list, but its neighbor to the north has experienced a 74 percent increase in home values.
Homes Sri Lanka have appreciated by 66 percent over the last five years. China, Turkey, Malta, and Iceland weren’t far behind —all saw average annual increases of more than 10 percent over that period.
Many countries that saw outsized long-term gains did not rank high in appreciation over the last year. Poland, Croatia, Germany, and Puerto Rico topped that category with 11 percent increases.
Value growth seems to be most consistent in Germany, Chile, and New Zealand — they were the only three countries that were top 15 for growth for each time period. [NYT] – Dennis Lynch