Thailand house prices rose by 3.16 percent during 2017, higher than Singapore (0.79 percent), Taiwan (0.5 percent, South Korea (0.27 percent) and Indonesia (0.01 percent).
These are the results of research from website The Global Property Guide however, for Thailand’s property market the organization uses only Bank of Thailand data reflecting single house prices so cannot be seen as a true reflection of the entire Thailand property market.
Elsewhere in Asia-Pacific, Hong Kong’s residential property prices surged 12.81 percent last year, a sharp increase after year-on-year rises of 6.61 percent in 2016.
The latest house price rises come despite the Hong Kong Government raising stamp duties for all non-first-time home buyers during November 2016, and cutting permitted loans on residential and commercial properties during May 2017.
During 2017 the total number of property transactions in Hong Kong increased 12.60 percent while sales values rose by 30 percent.
The Philippines is now in its seventh year of rising house prices amidst strong economic growth. The average price of three-bedroom condominium units in Makati’s central business district rose by 6.95 percent during 2017.
Globally, according to The Global Property Guide, Iceland is now the strongest housing market in its global survey, up from second place last year.
Icelandic house prices rose by 12.88 percent during 2017, the highest increase since 2005. This was due to strong tourism and limited supply, especially in Reykjavik. H
Hong Kong was ranked second, with Ireland rising four places to third plac with residential property prices rising by 11.92 percent in 2017.