House prices in 55 countries continue to stabilize, although growth remains uneven, according to data from the Knight Frank Global House Price Index for the third quarter of 2025. The overall trend is characterized by moderate increases supported by falling interest rates, with around 85% of markets recording positive annual growth.
Turkey is again the leader in nominal annual growth with 32.8%. However, due to high inflation, real price growth remains negative at -1.7%. Overall, Europe firmly holds the top spot in the rankings, with North Macedonia (+19.9%), Portugal (+18.1%) and Bulgaria (+15.5%) showing the strongest annual nominal growth. Outside Europe, significant growth was also seen in Colombia (+10.0%), India (+9.4%) and Japan (+7.6%).
At the other end of the scale, the largest annual declines were recorded: mainland China (-6.4%) and Hong Kong (-6.3%). Other markets where prices fell include Finland (-2.7%), Canada (-1.8%) and Peru (-1.7%).
The picture in the major developed economies is mixed but shows stabilization: Germany (+2.6%), the United Kingdom (+2.1%) and the United States (+1.9%) reported moderate but positive annual growth.
Experts expect a sustained, albeit fragile, recovery in prices in early 2026. The outlook for the global housing market is directly dependent on further monetary policy easing. According to Liam Bailey of Knight Frank, Europe is leading the current recovery.
Detailed statistics on average property prices in Bulgaria by city and neighborhood can be found at imot.bg