The fall in property prices covered planet

Nedvizhimost06-08-2008 fall in property prices World covered planet boom in property prices ended under pressure from the credit crisis and inflation, experts say the Austrian portal Global Property Guide. Only 13 countries out of 40 present in their rating, housing prices have increased over the past year. Almost all other countries showed a fall in prices in real terms - that is, adjusted for inflation. In most countries where house prices are not falling, they are clearly losing the pace of growth. Most noticeably down property prices in the capital of Latvia - on 38,2% for May 2007 to May 2008, after adjusting for inflation. Quite predictably fallen real estate prices in the U.S.. Problems in the subprime mortgage market toppled the cost of homes by 18,1% year on year. In Europe, the biggest drop in prices per square meter were in Ireland (- 13,2%), Luxembourg (-5.8%), Portugal (-4.3%) and Malta (-4.9%). In the UK a year ago, prices have fallen quite a bit, but the real disaster in the property market burst in early 2008. During the first quarter home prices fell by -2.1% (adjusted for inflation). The inflation adjustment in nominal terms, 28 countries rated housing rose in price during the year. And only six mentioned the fall. However, this is true only in absolute terms.