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13 April, 2021

How the real estate market has changed in 2020: ranking of countries by price growth

53 countries have received estimates of the cost of housing for 2020. The coronavirus pandemic has triggered a crisis in the world economy, which will recover for several more years. But real estate prices rose before countries emerged from the crisis and will continue to rise in the future.

House prices in different countries of the world: Global Property Guide rating
Photo: Adobe Stock

Global Property Guide is an online portal about real estate. For 15 years, the portal's experts have been talking about housing prices in different countries, conditions of buying and renting real estate, and writing articles with the advice of lawyers, realtors and accountants.

Open data from various research institutions are used for the rankings. For example, statistical offices of states, their central banks and real estate agencies. A complete list of sources is listed on the Global Property Guide website.

How the Global Property Guide rating is compiled

An analysis of real estate prices is conducted every quarter. In 2020, experts noted a sharp increase in home prices in Q4 in many countries in Europe, Oceania, Asia, the United States and Canada.

In 40 of the 53 countries featured in the ranking, home prices rose. The growth will continue in 2021. The main reason is that the countries' economies are just beginning to recover from the crisis after the pandemic coronavirus.

Also, the increase in real estate prices is due to the demand for housing in rural areas. During the quarantine, many city dwellers bought houses outside the city, in nature.

10 countries with the highest growth in real estate prices in 2020

PlaceCountryPrice growth rate
1New Zealand+ 16,77%
2Sri Lanka+ 15,47%
3Puerto Rico+ 14,59%
4Slovakia+ 14,28%
5Turkey+ 13,70%
6Germany+ 11,42%
7Estonia+ 10,37%
8Sweden+ 9,74%
9USA+ 9,42%
10Russia+ 9,14%

In major cities in New Zealand real estate prices rose by 7.62% in the Q4 of 2020 and by 16.77% for the entire year. Residents of cities in Sri Lanka began to look for real estate options outside the city, which caused a stir in the local market.

Puerto Rico's real estate market set a record with negative home price growth in 2019 and a 14.59% increase in 2020. In Slovakia, home prices were up 15% over the 2019 price increase.

Turkey ranked fifth. Real estate in the country was actively purchased by both locals and foreigners.

How to get a residence permit and citizenship in the countries of the ranking

There are six countries in the ranking that allow foreigners to obtain a residence permit and citizenship by investment. The governments of these countries offer different investment options, such as buying real estate or government bonds, making a non-refundable contribution, or starting a business in the country.

Countries with residency and citizenship programs by investment

PlaceCountryPercentage of price increase for
5Turkey+ 13,7%
13Austria+ 8,6%
16Portugal+ 6,2%
20United Kingdom+ 5,56%
23Malta+ 4,82%
52Montenegro- 10,45%

In Turkey, Austria, Portugal, Britain and Malta, home prices have risen due to a faster economic recovery. But the Government of Montenegro predicts economic growth of 10.5% in 2021, when the tourist season resumes. Accordingly, real estate prices will begin to rise.

Residence permits in European countries. Austria offers residence permits to financially independent persons. Investors receive a residence permit by investment according to quotas. The government allocates a limited number of quotas - in 2021 there are only 450.

Investors who want to obtain a residence permit in the UK invest in local stocks. The investor can also register his company and invest in its development.

Portugal offers a residence permit by investment. The investor chooses one of 8 investment options. The most popular is the purchase of real estate, as objects are allowed to sell after 5 years. Investors not only get back the investment, but also receive income due to the increase in real estate prices.

Malta offers a permanent residence permit by purchasing or renting a home. Also pays the administrative fee, government fee and contribution to a Maltese non-governmental organization, as well as confirms that he has assets worth €500,000 or more.

Citizenship in European countries. Malta grants citizenship for special merit on the basis of direct investment. The applicant undergoes a strict due diligence check. First, the investor receives a residence permit, and after a year or three years, he can apply for citizenship. And to become a citizen of Montenegro, the investor buys real estate and makes a non-refundable contribution to the state fund.

Turkish citizenship for the whole family can be obtained for an investment in the economy of $250,000. The investment can be returned in 3 years - it is faster than in most countries.

Immigrant Invest is a licensed agent for European citizenship and residency programs by investment. If you want to move to one of the rated countries, seek advice from investment programs experts.

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How the real estate market has changed in 2020: ranking of countries by price growth