Malaysian home prices up 7%: Knight Frank
Over a six-month period from Q3 2014, home prices in the country only rose by 2.5 during the first quarter of the year, but it declined by 0.2 percent on a quarterly basis.
Meanwhile, Hong Kong clinched the spot in the ranking as it recorded the highest 12-month increase of 18.7 percent, followed by Turkey with 18.6 percent and Ireland at 16.8 percent.
“Hong Kong leads the annual rankings this quarter with mainstream prices ending the year nearly 19 percent higher in March. A lack of supply along with the popularity of smaller apartments due to affordability constraints is behind the acceleration in mainstream prices,” said Knight Frank’s Kate Everett-Allen.
At number five is Luxembourg with an annual home price growth of 12.1 percent, trailed by Estonia with 11 percent.
Colombia and New Zealand are tied at the sixth place with price gains of 9.5 percent each. Completing the top ten are Iceland with 9.4 percent, Sweden at 8.8 percent and Norway with 7.2 percent.
Overall, Knight Frank’s Global House Price index edged up by only 0.3 percent in the year to March 2015, or its weakest annual growth in three years.
About 75 percent countries posted flat or positive annual flat or positive annual in the first quarter. Three years earlier, this figure was closer to 47.2 percent.
The index is compiled on a quarterly basis using central bank data or official government statistics. The latest quarter’s information is not yet final pending the release of all the countries’ results.
But because the overall performance of the index is adjusted based on a country’s gross domestic product (GDP), large nations like China and the US and have a greater influence on it than much smaller economies.