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Global Residential Real Estate

Global housing markets seem to be stabilizing, as inflationary pressures started to ease in many countries, and central banks pause their key interest rate hikes, on the back of slowing economic activity.

When adjusted for inflation, house prices have risen in 28, and actually declined in 34 markets which have so far published housing statistics in 2023.

However, the more upbeat nominal figures, more familiar to the public, showed that house prices are rising strongly (or the decline is just modest). During 2023, nominal house prices were still rising in 48 countries, and declined in only 14 out of the 62 world’s housing markets. For instance, in Turkey, nominal house prices skyrocketed by 75.52% yearon-year in 2023 but in real terms, prices have actually increased by just 6.53%. This is also the case in Egypt, nominal house prices soared by 41.86% but real figures were up by just 6.11%. Also, in Karachi, Pakistan, nominal house prices surged by 25.86% but when adjusted for inflation, they actually declined by 2.96%.

Global Residential Market Report 2023
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