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Real estate: Global index: Romania 15th in price top of residential market in 2016
Romania ranked 15th in the 2016 global price top of the residential market, on the rise by 16 places compared to 2015, according to the Index made by a private global network in the real estate field, which included 55 countries.
According to Knight Frank Global House Index, Iceland is the leader in the top (14.7% yearly increase), replacing Turkey in the previous top, which dropped to third place.
In Romania’s case, the progress was from 31st in 2015 to 15th last year, with a price increase of 7.8% in the residential market.
Countries like Turkey and Sweden, in the top for several years, dropped from 1st and 3rd places in 2015 to 5th and 20th in 2016.
In the specialised top, Ukraine, Taiwan, Singapore and Cyprus continue to have a low progress, either because of geopolitical crises, economic frailty or restrictive measures which stop development in that segment.
At the same time, the number of residential markets recording price increases climbed from 43 in 2015 to 47 in 2016.
Knight Frank Global House Index made its début in 2006 and has been offering investors and developers the possibility to monitor and compare middle class residential market performances in the world. The index is build on a quarterly basis according to official government statistics or central bank data, where available.
Knight Frank if the largest private global network in the real estate field. It is based in London and operates with 413 offices in 60 countries on 6 continents where it has over 14,000 employees. The group offers consulting to all kinds of customers, from individual owners and buyers to developers, investors and corporate tenants.