Global house prices have increased by a median of 4.7% year on year led by Hong Kong, Turkey, Ireland, Sweden and Australia, a new international report shows.
Overall prices have increased in 21 of the 26 countries tracked by the Economist House Price Index but growth does vary from nation to nation.
The growth is topped by Hong Kong with annual price growth of 20.8%, followed by Turkey with a rise of 18,8%, Ireland up 13.4%, Sweden up 10.3% and Australia up 7.5%.
Property prices in Ireland increased nationwide by 2.3% in August and are up 9.5% compared to a year ago, the latest official data shows.
In Dublin property prices rose by 2.8% in August and were 8.2% higher than in August 2014. A breakdown shows that house prices are rising faster than apartments at 3% and 0.3% respectively.
Irish residential property prices posted their fastest monthly growth in almost a year in August, while annual growth inched up for the first time since March.
Prices grew 2.3 percent in August, the fastest since October 2014. Annual growth increased to 9.5 percent from 9.4 percent in July.
Monthly rents for private sector accommodation across the Ireland increased by 7.1% in the second quarter of this year compared with the same period last year, the latest published data shows.
Nationally, rents for houses were 6.4% higher, while apartment rents were 7.6% higher than in the second quarter of 2014, according to the data from the Private Rented Tenancies Board (PRTB) which is regarded as the most accurate and authoritative rent report of its kind on the private accommodation sector in Ireland.
Ireland plans to bring in legislation linking residential rents to the rate of inflation, in a bid to curb soaring rental costs, the Sunday Times reported.
Ireland's housing shortage has become a major political issue ahead of elections due in the next six months.
The European commercial property investment market has continued to gain positive momentum, with transaction volumes reaching €104.9 billion in the first half of 2015.
This was a 29% increase on the same period of 2014 and investment volumes for 2015 are forecast to reach €230 billion, which would make it comfortably the best year since the market peak of 2007.
Celtic Tiger leads the eurozone's housing price recovery but OECD warns of dangers of a new credit-driven bubble five years after crash
Residential property prices in Ireland increased by 0.9% across the country in July compared to the previous month but values in Dublin price growth is slowing, the latest official figures show.
On an annual basis prices are 9.4% higher nationwide but in Dublin they are 9% higher than a year ago. It is the first time since the middle of 2013 that prices in the capital city have risen by less than 10% year on year.
Commercial property investment activity in Europe reached its highest level since 2007, totalling €102.5 billion in the first half of 2015, the latest market analysis report shows.
The investment volume across the 16 participating countries was 25% up on the same period last year, according to the European Investment Briefing report from international real estate advisor Savills.
Irish residential property prices grew at their fastest pace in four months in July, climbing 0.9 percent on a monthly basis, although the annual growth rate continued to slow, data showed on Wednesday.
While prices across Ireland are 36.9 percent below their 2007 peak, the central bank introduced restrictions on mortgage lending in January to try to ensure price rises do not return to unsustainable levels amid a shortage in housing supply.
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