Europe’s Real Estate Resurgence Continues

Europe continues to lead global residential price growth, as China, the world’s hottest market for the past couple of years, reins in its runaway home prices. In the first quarter of this year, 15 out of the 24 global cities that posted a double-digit increase in home prices were in Europe, according to the Knight Frank Global Residential Cities Index released Wednesday. Leading the group was Berlin, with an annual growth rate of 14.9%, followed by Rotterdam, Netherlands, at 14.8% and Budapest, Hungary, at 14.4%. "The recovery in European cities is largely attributable to the region’s improved economic outlook and the supply/demand imbalance," said Kate Everett-Allen, author of the report.