Property prices are steadily increasing.
Get an overview of the development of the real estate industry. The real estate industry is considered an important part of the economy. Property prices are steadily and dramatically rising in most countries of the world. The International Monetary Fund (IMF) shows, how the prices of houses have developed the recent years worldwide.
Housing prices topped earnings and pensions of the population
In some countries, prices of houses rose more rapidly than the incomes of the population. It is particularly striking that house prices, particularly in Germany, New Zealand and Austria are well above the income of local residents. The cheapest properties, however, are in Spain (2015). Thus, an immense gap between the countries can be observed on housing prices. Also, the ratio of house prices and pensions is unbalanced, because housing prices rose faster in the past than people's retirement payments: Turkey especially stands out, followed by Germany and New Zealand.
The IMF has the property prices in view
The IMF wants to keep a check on housing prices, to avoid future problems, which were caused in the past by the real estate industry. So the real estate sector was the starting point of the financial crisis, said the IMF. The housing crisis proved especially critical in the US, which got the global financial and economic crisis rolling. This enormous crash had not been anticipated by any expert. The IMF website allows you to compare prices of homes in different countries. In addition, the property prices are set in relation to income and rents, so that real estate markets can be analyzed. After real estate prices had stagnated initially after the financial crisis, the IMF now confirms that prices in most countries are starting to rise again.