Emerging markets saw the biggest increases in house prices over the past decade, according to the Lloyds TSB International Global Housing Market Review.
Emerging economies accounted for four of the six top performing housing markets since 2001, including the three countries with the biggest rises.
Overall, Indian house prices have risen by the most since 2001, having increased by 284% in real terms (i.e. after allowing for consumer price inflation) since 2001 – equivalent to an average annual rise of 14%. This is almost six times the 50% rise in real UK house prices over the same period and over 10 times the 23% rise seen in the Euro area.
After India, Russia recorded the next biggest increase (209%), followed by South Africa (161%). Overall, house prices across the 32 countries tracked have risen by an average of 56% in real terms over the past decade.