Global real estate prices slow

From Global Edge

House-price growth across the globe slowed in the last quarter of 2010, according to new figures from global property agency and consultancy Knight Frank, which has a headquarters in London and about 207 offices worldwide including U.S.-based Newmark Knight Frank.

Twenty of the 49 countries analyzed by the company showed quarterly declines, with Dubai (-6.1 percent), Ireland (-3.5 percent), Cyprus (-2.1 percent) and the U.S. (-2.1 percent) recording some of the biggest falls.

Prices are now falling in 41 percent of countries tracked, compared with 31 percent in Q2 2010.

The fastest risers were Hong Kong (up 20.1 percent annually) and Latvia (up 16.9 percent) with the latter bouncing back from a 70 percent fall in prices during the credit crunch.