Real estate in the world is getting cheaper

19.10.2023 High inflation creates the feeling that real estate is getting more expensive in many countries, but in fact this is not the case. The Global Property Guide portal published a rating of changes in housing prices in 62 countries around the world. According to him, housing prices adjusted for inflation increased year-on-year in only 20 countries. The decline in prices occurred in 42 countries around the world.

The strongest annual growth in housing prices, adjusted for inflation in the second quarter of 2023, was recorded in Turkey, Northern Macedonia, the UAE, Puerto Rico and Georgia.
The largest year-on-year decline in housing prices, adjusted for inflation, occurred in Buenos Aires in Argentina, Sweden, Slovakia, Bogota in Colombia and Riga in Latvia.

The authors of the portal came to the conclusion that after several years of growth, the global real estate market has slowed down. The main reasons are the COVID—19 pandemic and the geopolitical situation.

In Russia, housing prices decreased by 2.43%, adjusted for inflation.

Link to source: https://gpg-production-cdn.s3.eu-west 2.amazonaws.com/downloads/property_reports/Global+Residential+Real+Estate+Market+Analysis+Q2+2023_v2.pdf