Key takeaways<\/p>\n
Real global house prices declined by 1.2% year on year (yoy) in the first quarter of 2026. Summary of latest developments<\/p>\n In the first quarter of 2026, aggregated global residential property prices deflated by consumer prices declined at a faster pace, by 1.2% yoy (compared with \u20130.5% in the previous quarter). This is in contrast to the previous period of near stabilisation observed in the second half of 2025 (Graph 1, yellow line).1<\/a><\/p>\n Real prices stopped growing in advanced economies (AEs), and even recorded a small decline for the first time since Q3 2024 (\u20130.2%) (Graph 1, blue line). This was despite the continued strength observed in Europe (+2.6% in the euro area and +0.8% for other European countries) (Graph\u00a02.A<\/a>).<\/p>\n Turning to emerging market economies (EMEs), real house prices extended their decline further, dropping by 2.0% yoy in real terms after \u20131.2% in the preceding quarter (Graph 1, red line). These aggregated developments continued to be driven by the fall in prices observed in Asia (\u20134.3%), contrasting with continued growth in Latin America (5.0%) and in other EMEs (3.2%) (Graph\u00a02.B<\/a>). This divergence across the major EME regions has been a regular feature observed in recent years.<\/p>\n In the first quarter of 2026, real residential property price growth continued to show considerable variation across jurisdictions. The median yoy growth rate increased further (from 2.3% to 2.6%) as the overall aggregate decline (\u20131.2% for the weighted mean of the reporting jurisdictions in Q1 2026) was driven by only a few large economies (Graph\u00a03.A<\/a>). In fact, only around one third of AEs and one fourth of EMEs experienced a yoy fall in real prices in Q1 2026 (Graph\u00a03.B<\/a>).2<\/a><\/p>\n In Q1 2026, the jurisdictions with the largest increases in real residential property prices were Portugal (15% yoy), North Macedonia (13%) and Bulgaria (11%). Conversely, the sharpest drop occurred in China (\u20137%), the main driver of the aggregate decline observed in emerging Asia, Canada (\u20137%) and New Zealand (\u20134%) (Graph\u00a04<\/a>).<\/p>\n Since the start of the Covid-19 pandemic in Q4 2019, real house prices have increased by 2.7% globally. Among G20 economies, house price inflation has been particularly notable in T\u00fcrkiye (105%), Australia (23%), Mexico (22%) and the United States (18%). Conversely, real prices have decreased the most in China (\u201322%), followed by Canada From a longer-term perspective, real global house prices are well above the levels observed at the end of the GFC, by a marked 20%. They are particularly high in T\u00fcrkiye (117%), India (62%) and the United States (56%). By contrast, real prices remain well below their post-GFC levels in Italy (\u201324%) and China (\u201315%) (Graph\u00a05<\/a>).<\/p>\n Advanced economies<\/p>\n Real residential property prices remained almost stable in AEs in Q1 2026 (\u20130.2% yoy). They extended their decrease in Canada (\u20137%) and, to a lesser extent, in the United States Emerging market economies<\/p>\n In Q1 2026, real residential property prices in EMEs continued to decline (\u20132%). The fall was particularly notable in emerging Asia, especially in China and Indonesia (\u20137% and \u20133%, respectively), while prices increased moderately in Thailand (2%), the Philippines (2%) and India (1%) (Graph\u00a08<\/a>).<\/p>\n Turning to other EME regions, real residential property prices kept growing in Latin America (5%), reflecting continued increases in Brazil (5%) and Mexico (4%). They also rose in other countries such as South Africa (3%), but declined in T\u00fcrkiye (\u20133%) and Morocco (\u20131%) (Graph\u00a09<\/a>).<\/p>\n Annex A: Nominal house price developments<\/p>\n","protected":false},"excerpt":{"rendered":"Key takeaways Real global house prices declined by 1.2% year on year (yoy) in the first quarter of…\n","protected":false},"author":2,"featured_media":46912,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[114,85,46],"class_list":["post-597467","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-il","tag-israel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/597467","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=597467"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/597467\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/46912"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=597467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=597467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=597467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nReal prices stopped growing in advanced economies (\u20130.2% yoy), and continued to decrease in emerging market economies (\u20132.0% yoy), mainly driven by developments in Asia.
\nSince the start of the Covid-19 pandemic, real global house prices have risen by a meagre 3%. Among G20 economies, the strongest increases have been recorded in T\u00fcrkiye, Australia, Mexico and the United States. Conversely, prices still remain below their pre-pandemic heights in China, Canada and Indonesia.
\nFrom a longer-term perspective, global house prices have markedly increased in real terms over the past two decades \u2013 by 20% since the end of the Great Financial Crisis (GFC) of 2007\u201309. T\u00fcrkiye, India and the United States have recorded the most notable rises, while prices remain below their post-GFC levels in Italy and China.
\nTo access the full data set, visit\u00a0Residential property prices – overview | BIS Data Portal<\/a>.<\/p>\n
(\u20139%) and Indonesia (\u20138%).<\/p>\n
(\u20132%) and the United Kingdom (\u20132%) (Graph\u00a06<\/a>). In contrast, they continued to grow in Australia (+6%) and in the euro area (+2.6%), with marked increases in Spain (+10%) and Italy (+4%), despite the slight declines observed in both France (\u20131%) and Germany (\u20131%) (Graph\u00a07<\/a>).<\/p>\n