Here are the 10 countries where house prices are rising fastest

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It has become much more difficult to find a home than you can afford in America lately. But the United States isn’t by far the most expensive place to buy a home, nor the country where house prices have risen the most over the past decade.


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According to data collected by money.co.uk (not related to money.com, but we should probably be friends or something), the country with the biggest increase in house prices from 2010 to 2020 was Israel. , where there was a staggering 346%. increased costs per square meter.

Next come Switzerland and Germany, with increases of 166% and 162%, followed by the United States with 153%. Hungary, Slovakia, France, Portugal, Japan and the UK round out the rest of the top 10, all with average house price increases of at least 75%.

On the other hand, the country with the most expensive residential properties in 2020 – based on the average price per square meter, in cities and outside city centers – is South Korea, followed by Switzerland, France, Israel and Japan.

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The United States does not make the top 10 based on these criteria and is a more affordable place to buy a home than all of these countries, as well as places like New Zealand, Australia, Canada, and Australia. much of Europe.

CountryAverage increase in house prices, 2010 – 2020
Israel345.7%
Switzerland165.5%
Germany162%
United States153.3%
Hungary137.8%
Slovakia111.8%
France100.5%
Portugal86.5%
Japan75.1%
UK74.9%

Money.co.uk is a UK-based free site that allows users to compare financial services. The data for his study comes from publicly available sources such as numbeo.com, where the average house price figures come from.

Meanwhile, data from the St. Louis Fed shows how the percentage increases translate into real price changes for US homes. In the first quarter of 2010, the median selling price of American homes was $ 222,900. Ten years later, that price has increased by over $ 100,000 to reach $ 329,000.

Home prices continued to get more expensive after this first quarter of 2020, when the pandemic hit and the residential housing market really took off, and historically low mortgage rates helped keep it warm. Median selling prices in the United States hit $ 369,800 in the first quarter of 2021, then climbed to $ 374,900 in the second quarter.

These are very real price increases, even after accounting for inflation. That median home price of $ 222,900 in 2010 translates to about $ 279,000 in today’s dollars, according to inflation calculators.

While soaring home prices are undeniably a major hurdle for first-time buyers, they are also a boon for many Baby Boomers who are on the cusp of making their homes profitable – which are worth a lot more these days.

More money :

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Every Saturday, Money’s real estate writer Sam Sharf delves into the world of real estate, offering a fresh take on the latest housing news for homeowners, buyers and dreamers.

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