Global property market growth 'slowing' Published: 03/09/2008

The global residential property market is growing at a slower rate, new research reveals.

Figures from Knight Frank show that during the second six months of 2008, growth in world property values went up by just 4.8 per cent – down from a growth of 6.1 per cent between January and March this year.

The majority of countries in the global property index have reported a slowdown in growth, but countries including Russia, Slovakia, Bulgaria and the Czech Republic are bucking the trend.

These countries, as well as Cyprus, Colombia, Singapore and Hong Kong, have recorded growth in the double digits.

Commenting, Nick Barnes, head of international research at Knight Frank, said: "The index shows global house price inflation is continuing to fall back, with much of continental Europe now seeing low or negative growth.

"Nevertheless, performance is very varied, with prices still rising rapidly in several locations in Asia and eastern Europe."

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