In the most recent Global House Price Index, Turkey was ranked first.

Turkey top the annual rankings, according to Knight Frank's newest Global House Price Index for Q2, 2020, with prices up 25% year-on-year. However, it's worth remembering that inflation is now hovering about 12%. This quarter, European countries account for eight of the top ten rankings, with Baltic and Central and Eastern European countries prominently represented.qatar real estate

Three countries that were regarded to have dealt with the pandemic most efficiently, New Zealand, Germany, and South Korea, had mixed results. Germany has yet to release its Q2 figures, while New Zealand dropped from second to eleventh place in the rankings between March and June despite still recording 9% annual price growth, and South Korea, whose annual price growth was anemic at 0.1 percent in Q1, has seen annual price growth pick up to 1.3 percent.

The following are some of the key findings from the Global Index:

The average annual change in prices across 56 countries and territories is 4.7 percent.

In the year leading up to Q2 2020, Turkey tops the annual rankings.

In the top ten annual rankings, eight European countries appear.

In terms of annual price increases, New Zealand is Asia-best Pacific's performer.

In Q2 2020, yearly price reductions were recorded in 9% of nations and territories.

According to Knight Frank, these trends indicate that the pandemic's influence on global property markets will be erratic and irregular. The health of the housing market prior to the epidemic, the length and intensity of the lockdown, and each country's or territory's reliance on overseas demand, which has dried up in recent months due to travel restrictions, will all play a role.

In Q3 2020, keep an eye out for any signs of a link between the length and severity of lockdowns and price performance.

If national statistics offices increase their reporting rates as the number of national lockdowns decreases, or if indices are paused owing to a lack of transactions,

If tourism-dependent markets with a large share of second houses see slower price increase,

Manila is the most populous city in the world, according to the latest Global Residential Cities Index.

According to Knight Frank's newest Global Residential Cities Index, the annual rate of home price growth (globally) went from 4.1 percent to 4.7 percent between Q2 and Q3 2020, while 18 international cities had prices rise by more than 10% year-on-year, up from 16 in Q2 2020.

This does not indicate that the city has died, but it does reflect that demand has remained resilient over the pandemic, with few discounted or distressed purchases.

The increase in price increases is due to record low interest rates, massive fiscal stimulus measures, and the release of pent-up demand in Q3, and with travel restrictions in place during this time, buyer demand was mostly domestic in nature.

Emerging markets are leading the trend, with Manila seeing a 35 percent increase in prices year over year. Banks in the Philippines are reporting increased construction and labor expenses, as well as robust demand for high-end projects. Izmir (28 percent), Ankara (27 percent), and Istanbul (26 percent) are the second, third, and fourth most populous cities in Turkey, respectively, with St Petersburg (19 percent) rounding out the top five.

Despite 20 rounds of cooling measures over the previous four years, Seoul's annual price increase has remained over 15%, boosted by the city's rapid economic recovery and some speculative activity.

With news this month that Canada is mulling a national foreign buyer tax, four Canadian cities (Ottawa, Halifax, Montreal, and Hamilton) have risen to the top 20. Three cities in the United States have made it into the top twenty (Phoenix, Seattle and San Diego).

In the year leading up to Q3 2020, prices fell in 15% of cities, with India, Spain, and the United Arab Emirates significantly represented.

All eyes are now on Q4 data, which may reveal significant regional differences. Due to recent lockdowns, price rise in Europe may decelerate in Q4 before a further release of pent-up demand in Q1 2021, while sales and prices in some regions of Asia may begin to gain traction.