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Asia house prices lead the world, Cyprus “still booming”

Shanghai, China (up 35.4%) was the world’s strongest residential property market during the past full year, according to a compilation of official and private-sector statistics by the Global Property Guide. Bulgaria (up 34.6%) was in second place, followed by Slovakia (up 32.5%) and Singapore (31.1%).

Cyprus was sixth with 19.2% increase from 2006 to 2007, with the Global Property Guide commenting that house prices on the island are “still booming”.

The worst performers were the United States (down 8.9% by Case-Shiller calculations), Ireland (down 7.3%), and Estonia (down 3.9%).

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