Which country has the most valuable property market?

PHOTO: Global real estate values dropped by 2.8 per cent to just under three hundred and eighty trillion dollars. Image: Canva.

China,
United States of America,
Japan,
Germany,
United Kingdom,
France,
Canada,
South Korea,
Brazil, and
Australia.

The People’s Republic of China made up just over a quarter (26%) of the world’s real estate value, as of 2022. This comprises both residential and commercial real estate.

The United States of America accounted for 19% of the total global real estate value.

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Top 10 countries by real estate value

World's top 10 countries for property market values — **The world’s most valuable property market is China, with America, Japan, Germany, and the UK rounding out the top five. Source: Savills Research.**

Despite only being home to 17% of the world’s population, Europe and North America accounted for nearly half (47%) of the world’s total property value. Starkly contrasting this is the Asia Pacific, excluding China, which comprised 37% of the world’s population and only 17% of global real estate value.

Distribution of global real estate values

global real estate value breakdown between china usa g7 and others — **China makes up over a quarter of the world’s real estate value, with the United States of America just under a fifth. Source: Savills Research.**

Ranking ahead of more populous nations, Canada and Australia were notably in the top ten, recording incredible levels of real estate price growth in recent years.

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Australia’s residential market hit A$10 trillion in value in June 2022, before values dipped due to inflation and soaring interest rates. The Australian property market quickly recovered, seeing values turn around and reprise its A$10 trillion value in June this year.

Total value of dwelling stock, Australia

Value of dwelling stock in Australia June quarter 2023. — **Source: ABS.**

The drivers behind Australian house prices and the market’s value included a floor under prices, and indeed significant growth, due to a lack of supply, and a growth in the number of Australian homes.

SOURCE: THE PROPERTY TRIBUNE