Average global house prices rose by 4.5% last year – dropping from 7% a year earlier, according to new data.
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The latest house price rankings show a big about turn, with every Chinese city except Hong Kong plunging out of the top 20, with cities from Germany, The Netherlands and Europe racing up the chart.
Berlin took first place with a massive 20.9% price hike.
Out of the rest, 120 returned price rises, Kolkata, India, stood still and 29 saw home values fall.
Abu Dhabi props up the rankings, with a 9.1% price fall.
“With fiscal stimulus being withdrawn, capital controls in place in China, and the beginning of a shift towards the normalisation of monetary policy, annual price growth above 20% is now confined to only a few outliers,” said Kate Everett-Allen of international property consultants Knight Frank, which compiled the data.
“At the end of 2016, 12 cities, most of them Chinese, registered price growth above 20%, a year later only one city falls into this category; Berlin.
“The slowdown in Chinese cities in 2017 had a marked influence on the index’s overall performance. In 2016, the 15 Chinese cities tracked by the index averaged 23% growth year-on-year. In 2017, the same 15 cities averaged 1.6% growth.”
Top 20 global cities for house price rises
| Rank | City | Country | % annual change |
| 1 | Berlin | Germany | 20.9% |
| 2 | Izmir | Turkey | 18.5% |
| 3 | Reykjavik | Iceland | 16.6% |
| 4 | Vancouver | Canada | 16.0% |
| 5 | Hong Kong | China | 14.8% |
| 6 | Budapest | Hungary | 15.5% |
| 7 | Hamburg | Germany | 14.1% |
| 8 | Munich | Germany | 13.8% |
| 9 | Rotterdam | The Netherlands | 13.4% |
| 10 | Frankfurt | Germany | 13.4% |
| 11 | Hobart | Australia | 13.1% |
| 12 | Seattle | USA | 12.7% |
| 13 | Amsterdam | The Netherlands | 12.4% |
| 14 | Dublin | Ireland | 11.7% |
| 15 | Surat | India | 11.4% |
| 16 | Utrecht | The Netherlands | 11.4% |
| 17 | Hamilton | Canada | 11.3% |
| 18 | Ahmedabad | India | 11.0% |
| 19 | Sofia | Bulgaria | 11.3% |
| 20 | Malmo | Sweden | 10.8% |
Source: Knight Frank
Bottom 10 global cities for house price drops
| Rank | City | Country | % annual change |
| 141 | Dubai | United Arab Emirates | -3.8% |
| 142 | Rio de Janeiro | Brazil | -4.4% |
| 143 | Palermo | Italy | -4.6% |
| 144 | Kiev | Ukraine | -5.1% |
| 145 | Genoa | Italy | -6.2% |
| 146 | Darwin | Australia | -6.3% |
| 147 | Delhi | India | -7.2% |
| 148 | Turin | Italy | -8.3% |
| 149 | Lima | Peru | -8.4% |
| 150 | Abu Dhabi | United Arab Emirates | -9.1% |
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