According to research, all nine of the weakest real estate markets in the world are located in Europe, and it is the pace that prices are falling on the Continent that is surprising many. Prices are falling the fastest in Greece, Spain, the Netherlands, Portugal, Lithuania and Croatia.
In Greece, prices of homes, adjusted for inflation, fell 12.47 percent in the third quarter on an annual level. Last year in the third quarter homes fell by 6.3 percent. In Spain house prices fell in the third quarter by 11.87 on an annual level, whilst in Croatia’s capital Zagreb, they dropped by 8.03.
Holland’s real estate market is also feeling the pinch, house prices dropping by 11.43 percent from the same period last year. There was good news in the Global Property Guide for markets in Dubai and America. Property prices in Dubai rose 13.46 percent from he same period last year, whilst in America there was signs of recovery, with prices up 2.31 percent on the year.