Knight Frank Data for Q3 2025
According to the latest report from real estate consultancy Knight Frank, housing price growth accelerated in the third quarter of 2025 across 55 leading markets worldwide. The average global house price rose by 2.4% year-on-year last summer, up from 2.2% in the previous quarter, though growth rates varied significantly between countries.
- Turkey led the pack with a 32.2% increase; however, when adjusted for high inflation, this figure effectively translates to a -0.8% real price change.
- North Macedonia followed with a strong 25.1% rise.
- Portugal saw a substantial 17.7% increase.
Spain entered the top 10 with an impressive annual growth rate of 12.1%, trailing behind Bulgaria (15.4%), Hungary (15.1%), and Croatia (13.8%). On the other end of the spectrum, the largest price declines were recorded in Finland (-9.5%), China (-5.5%), and Canada (-2.6%).
- Finland experienced the steepest drop at -9.5%.
- China’s prices fell by 5.5%.
- Canada saw a moderate decline of 2.6%.
The Influence of Interest Rates and Central Banks
The "Global House Price Index" report highlights that, up to the third quarter of 2025, central banks largely refrained from raising interest rates and instead implemented rate cuts 27 times globally. This shift in monetary policy has helped lower financing costs, thereby supporting housing demand in an increasing number of markets worldwide.