Knight Frank recently released the Q4 2015 figures for the 55 property markets included in its Global House Price Index. Overall, the Index increased by 3% in 2015, up from 2.3% in 2014.
Kate Everett-Allen at Knight Frank says: "Forty-three of the 55 housing markets tracked in our Global House Price Index saw prices rise, up from 10 countries in the aftermath of Lehman's collapse in Q2 2009. Turkey leads the rankings with prices rising 18% during 2015.
Increasingly viewed as a safe haven for Middle Eastern investors, Turkey is bridging East and West whilst also seeing strong population growth.
"Our outlook for 2016 is muted. We expect the index's overall rate of growth to be weaker in 2016 than 2015. The global economy is experiencing a potentially dangerous cocktail of low oil prices, a strong dollar and a continued slowdown in China."
However, while the Knight Frank Index lists a 30% difference between the best performing market (Turkey at 18%) and the worst performing market (Ukraine at -12%), these property price movements are usually taken from the central bank statistics from the relevant countries, which does not take into account currency fluctuations. When the currency moves are taken into account against Sterling, the difference between the best and worst place to buy property on the 1st of January 2015 soars to 80%, a far more significant range that exposes where the real winners and losers can be found amongst international property investors.