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Sweden is a world leader in the growth of property prices
Sweden is the leading nation in the world with the highest property price growth in the second quarter of this year shows the International Monetary Fund data quoted by the online edition The MoveChannel.com.

In annual terms, the growth in house prices in Sweden reached 14%. In second place is New Zealand with 11%, where there are already restrictions on mortgage lending, which should lead to lower prices.

The third place is taken by Lithuania and in the top 10 are included Hungary, Malta, Israel, Qatar, Colombia, Turkey and the United Kingdom.

Last rating - Ukrainian property market with an annual slump of more than 25%. The second from the end – Russian market with decrease of 15%, followed by the market in the United Arab Emirates.

Bulgaria, popular among buyers of resort housing, falls into the group of countries with a moderate price increases in the second quarter - 5 percent on an annualized basis. This group also includes properties in Spain, Czech Republic, Portugal, Mexico, the Netherlands, India, Germany and other countries.

With regard to the credit growth, a leader in global property market is Mexico with an increase of more than 15% on an annualized basis, then markets in Estonia, the Philippines and China. Among the top 10 are also the property markets of Slovakia, Colombia, Sweden, the United States, Australia and Norway.

The strongest recession in the mortgage lending is observed in Ukraine, Ireland, Slovenia, Hong Kong and Brazil.

In terms of affordability, which is calculated as the ratio between the property value and the annual income of buyers, the most inaccessible market in the world is New Zealand. The ratio between the property price and the income here reaches 130%. It is followed by markets of Austria and Sweden, as Germany falls also in the top-10 markets, followed by Great Britain, Luxembourg, Switzerland, Canada and Estonia.

At the bottom of the rankings - Spain, Poland and the Netherlands.

Growth in the housing market in Sweden, as well as in Turkey and New Zealand is also confirmed by the data of the consulting firm Knight Frank. In this ranking Turkey is the world leader in the growth of housing prices, followed by the New Zealand market, as Sweden took only the fifth place, reminds the edition.

The IMF has long warned about the imbalance in the housing market in Sweden, which is supported by the monetary policy of the Central Bank. The authorities in the country have also introduced some restrictions for home buyers, related to the ratio between housing prices and incomes, as well as with the pace of household debts. These measures, however, are working poorly, because the rise in prices on the market is still quite strong.

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