The 10 global cities where house prices are rising the most
10. Lucknow, India — 16.1%. Located in the Uttar Pradesh region of northern India, Lucknow has seen major investment from global car giant Honda, which recently opened a new facility in the city. House prices have risen as a result of growing investment in the city.
9. Izmir, Turkey — 16.7%. Izmir, on the western coast of Turkey is another city that has seen substantial investment and infrastructure creation in recent years, driving up house prices. The city has centralised municipal management of utilities, something which is very rare in Turkey.
8. Auckland, New Zealand — 16.9%. House prices in New Zealand's largest city have surged in recent years, thanks in part to huge numbers of Chinese investors pouring money into the market. A chronic shortage of housing is also partly to blame.
7. Vancouver, Canada — 17.3%. Vancouver's property prices have also been shunted higher by huge amounts of investment from the Far East. This has led to record numbers of homes being left unoccupied, making things even worse.
6. Stockholm, Sweden — 17.4%. Stockholm is another global city in the midst of a massive housing bubble. The Swedish capital's bubble has been driven by super low interest rates, and a general imbalance in supply and demand in the city.
5. Beijing, China —17.6%. The capital city of China is a growing economic powerhouse, and as China's development continues, house prices are following suit.
4. Nanjing, China — 17.8%. With a population of 8 million and counting, Nanjing is home to one of the world's biggest inland ports, and as a result is a key centre for bringing goods to and from mainland China. Prices for property in the city grew more than 3.4% in August alone as cheap credit makes property an incredibly attractive investment.
3. Istanbul, Turkey — 19.6%. Despite political turmoil in the country, investors from Gulf states are flooding Istanbul's property market, helping fuel price growth.
2. Shanghai, China — 30.5%. China's financial centre has some of the highest property prices on earth, and they are still rocketing upwards as buyers clamour to get a piece of the developing city.
1. Shenzhen, China — 62.5%. Shenzhen, located just across the water from Hong Kong, is rapidly developing as a hub for technology hardware and is often referred to as China’s Silicon Valley. As a result, property is in high demand, making prices grow faster than anywhere else in the world.
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