It’s been 15 long years since the former Balmain Leagues Club was open to the public. The large 7,330 sqm Victoria Road site had grown progressively more derelict since the doors to the former club shut back in 2010.

Earlier this year, the vertically integrated developer PERIFA, part of the Versatile Group of companies, stepped in and acquired the site, quickly getting to work on construction through its building business Versatile Construction.

PERIFA teamed up with financier Mitsubishi Estate Asia to create <a href="https://www.apartments.com.au/new-apartments/rozelle-village-rozelle-152-victoria-road-rozelle-nsw-2039">Rozelle Village</a>, a new community heart of the charming inner west suburb. The mixed-use precinct will not only be home to around 150 one-, two-, and three-bedroom apartments, but also feature a fully activated ground plane with extensive hospitality venues and retail spaces.

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A new club will replace the old Balmain Leagues Club. The public plaza will include a range of new food and hospitality venues, a community art studio, and a retail precinct anchored by a full-line supermarket, a first for the peninsula.

The apartments will be spread across three interconnected buildings designed by Studio SC, with interiors by SJB.

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Buyers weren’t prepared to wait any longer to purchase. When it was time to start selling the development, PERIFA and SRM Residential had buyers queuing out of the display suite door. They secured over 40 sales on launch, including several high-end three-bedroom apartments with sales reaching up to $6.9 million.

Demand has been driven largely by local owner-occupiers who have had <a href="https://www.apartments.com.au/developments/rozelle-nsw-2039">Rozelle</a><a href="https://www.apartments.com.au/new-apartments/rozelle-village-rozelle-152-victoria-road-rozelle-nsw-2039"> Village</a> on their radar for some time, many of them already living in apartments and looking to upgrade without giving up lifestyle, walkability, or views.

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Perilli, Co-Founder and Managing Director of PERIFA and Versatile Group, said the community has had to put up with a derelict site on their doorstep for too long.

“The Balmain Leagues Club in Rozelle, which closed in 2010 to make way for the NSW Government Metro Transport Project, was once a hub for local families to come together and enjoy entertainment and hospitality. We’re delighted to embark on a new era for the site, together with our partners Mitsubishi Estate Asia,"&nbsp;Perilli said.

"Our shared vision for <a href="https://www.apartments.com.au/new-apartments/rozelle-village-rozelle-152-victoria-road-rozelle-nsw-2039">Rozelle Village</a> is to create a mixed-use precinct that is thoughtfully designed and caters to new residents and the community alike. It will be a major meeting place for the community that embraces the unique character of the Balmain/Rozelle peninsula, while helping to shape its next chapter.”

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The residential offering will cater to downsizers, families, and local owner-occupiers, with an emphasis on larger floorplans, high-quality finishes, and expansive views across Iron Cove, Sydney Harbour, and the Parramatta River.

Residents will have private access to a rooftop pool, taking in the views, a rooftop yoga lawn, and podium level gardens.

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Joel Robinson

From leagues club to lifestyle precint: Inside Rozelle Village 

Roberts Co has entered a new phase of growth following its acquisition by Arada, one of the world’s fastest-growing property developers in Australia.

The acquisition is supported by a $50 million capital injection into Roberts Co’s Australian balance sheet, consisting of the previously announced $25 million recapitalisation and an additional $25 million in new funding from Arada.

This investment strengthens Roberts Co’s financial position, stabilises operations, and provides the foundation for strategic expansion beyond its New South Wales base, with a focus on new opportunities in Queensland, including the Brisbane and Gold Coast regions.

With Arada’s international resources and financial backing, Roberts Co will broaden its portfolio across residential, commercial, and infrastructure sectors, reinforcing its strong market position in New South Wales and setting itself to capture growth in one of Australia’s most dynamic construction markets.

Ahmed Alkhoshaibi, Group CEO of Arada, said Roberts Co has a proud Australian heritage, an outstanding delivery record, and a strong reputation for collaboration with clients and partners.

"By combining this expertise with Arada’s global scale and financial capacity, we are creating a platform for sustained growth in the Australian market,"&nbsp;Alkhoshaibi said.

“Our $50 million capital injection, including new funds from Arada, underlines our commitment to both stabilise and expand Roberts Co’s operations, particularly into the fast-growing Queensland market. We see significant potential in South-East Queensland’s pipeline and are confident Roberts Co is well placed to deliver lasting value for clients and communities.”

George Kostas, CEO of Roberts Co, said Queensland, and particularly South-East Queensland, is one of the most active and opportunity-rich regions in Australia right now.

"The lead-up to the Brisbane 2032 Olympic Games will bring unprecedented investment across housing, transport, and infrastructure. Roberts Co is eager to play a major role in that transformation and secure a meaningful share of this fast-growing market.”

Arada pours more funds into Roberts Co, flags expansion into South East Queensland construction market

<a href="https://www.apartments.com.au/developments/hurstville-nsw-2220">Hurstville</a> has quietly become one of Sydney’s most resilient property markets. Supported by strong transport links, infrastructure investment and a growing multicultural community, the St George hub continues to outperform much of the metropolitan market for both capital and rental returns.

According to Positus Property Investment, Hurstville now ranks among Sydney’s top performers for yield consistency, underpinned by population growth of nearly five per cent since 2021 and persistently low vacancy rates.&nbsp;

Limited new supply is tightening the market further - new dwelling approvals have fallen from close to 600 to under 200 in FY25, a structural shortfall that’s placing upward pressure on rents and resale values.

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As one of the final residential stages in the Kempt Field precinct anchored by Woolworths, <a href="https://www.apartments.com.au/developers/the-one-collection">The One Collection</a>'s <a href="https://www.apartments.com.au/new-apartments/horizon-hurstville-6-jack-brabham-drive-hurstville-nsw-2220">Horizon</a> represents a rare opportunity to buy into a location experiencing both infrastructure-led growth and constrained supply&nbsp;- now made even more compelling with a limited-time five per cent deposit and matching rebate incentive.

Positus notes that the suburb’s combination of “relative affordability, low vacancy, and rising population” is creating a recipe for continued rental growth and capital appreciation. Weekly rents are increasing faster than strata and outgoings, with two-bedroom apartments seeing the deepest tenant demand - supporting healthy yield margins even after costs.

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Horizon prices begin from $668,000, with one, two, and three-bedroom apartments offering flexible entry points for investors.&nbsp;

The project’s location, a short walk to Hurstville Station, Westfield, and an upcoming dining laneway, St Clair Lane, underscores its liquidity and day-to-day convenience.&nbsp;

A 19-minute express train connects residents to the Sydney CBD, while arterial upgrades such as the M6 and WestConnex further enhance connectivity.

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Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a>, Horizon’s soft, organic façade mirrors the parkland of Kempt Field, while interiors prioritise light, durability, and smart functionality.&nbsp;

Each home features Smeg appliances, smart home automation, and generous balconies overlooking the bay and skyline.&nbsp;

Amenities include a gym, sauna, games room, meditation deck, and landscaped courtyards, with wellness and social spaces designed to foster community.

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From an investment perspective, Horizon offers what Positus describes as a “value and income sweet spot.” At an average entry price around $745,000 and yields near five per cent, Hurstville units remain roughly $200,000 below comparable inner-west suburbs, allowing investors to capture metro proximity without inner-city risk exposure.

Horizon will deliver 179 one, two, and three-bedroom apartments above St Clair Lane.&nbsp;<a href="https://www.apartments.com.au/builders/masscon">Masscon</a> is on site moving its way up the building, which is scheduled for completion in late 2026, with move-in expected shortly after.

One Collection is currently offering a five per cent deposit incentive for a limited time.

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Staff Writer

The One Collection opens new investment window at Horizon Hurstville with limited-time incentives

The Gold Coast has cemented its position as one of Australia's hottest construction markets, with crane numbers reaching a record 67 in Q3 2025, the highest count since tracking began.

The latest Rider Levett Bucknall (RLB) Crane Index shows the region at 447 points, also a record, with activity surging 110 per cent over the past three years as population growth and investor confidence drive unprecedented development activity.

Residential construction dominates the skyline almost entirely, accounting for 95.5 per cent of all cranes across the Gold Coast. Of the 67 cranes currently operating, 64 are dedicated to residential and mixed-use apartment projects. 21 new cranes were added in Q3 2025 alone, with major developments spanning Surfers Paradise, Main Beach, Broadbeach, Mermaid Beach and Southport reflecting sustained confidence across the coastal corridor.

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The construction boom aligns with exceptional apartment market performance. Gold Coast unit prices reached $950,000 in September 2025 according to the latest Ray White Now Monthly, delivering robust 8.6 per cent annual growth and 0.6 per cent monthly appreciation.

This significantly outperforms the national apartment market average of 6.9 per cent and positions the Gold Coast as Australia's most expensive apartment market, trending ahead of Sydney. This highlights the premium investors and owner-occupiers place on the region's lifestyle amenity.

The scale of residential development reflects both build-to-sell apartment projects targeting owner-occupiers and investors, alongside emerging build-to-rent developments as institutional capital increasingly targets the Gold Coast. Population growth continues driving demand, with the region attracting interstate migrants seeking lifestyle amenity and professionals relocating from southern capitals to embrace coastal living while maintaining career opportunities.

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Project activity spans multiple price points and buyer demographics. Premium waterfront developments in Main Beach and Broadbeach command the highest values and attract downsizers alongside investors, while projects in Varsity Lakes and growth suburbs target first home buyers seeking more affordable entry points into the Gold Coast market. The concentration of cranes along established precincts with beach access reflects where buyer demand remains strongest.

Notably absent from the Gold Coast's construction pipeline is commercial office development, with zero commercial cranes currently operating. The only non-residential activity comprises aged care and education. This underscores the Gold Coast's evolution as a residential growth market rather than a CBD destination, with the regional economy built around tourism, construction, lifestyle services and residential property rather than traditional office demand.

The sustained construction pipeline through Q3 2025 suggests apartment completions will remain elevated through 2026, providing necessary supply for the growing population. With development activity at record levels and strong price growth supporting feasibility, the Gold Coast apartment market continues delivering solid returns for developers and investors navigating Australia's shifting property landscape.

Gold Coast construction hits record high as apartment market delivers strong returns

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a> is has officially launched its next residential project, the $240 million Symphony in South Brisbane. It marks&nbsp;the group’s entry into the Brisbane market as it expands the Flourish brand to deliver design-forward, fairly priced homes in an undersupplied market.&nbsp;

With 25 out of 138 apartments priced under $1 million, <a href="https://www.apartments.com.au/new-apartments/symphony-south-brisbane-21-23-cordelia-street-south-brisbane-qld-4101">Symphony</a> is expected to attract first home buyers, with Sherpa reserving all one-bedroom and two-bedroom, one-bathroom apartments under $1 million for owner-occupiers and first-home buyers.&nbsp;

Sherpa CEO Christie Leet, said the project is a strategic move to deliver attainable housing in connected, culturally vibrant neighbourhoods, with locals prioritised.&nbsp;

“Our aim with Flourish has always been to help the community,” said Leet.

“That’s why we have chosen to release Symphony to locals first, reserving a portion of apartments for owner-occupiers and first-home buyers to give them a genuine chance to get their foot in the door.”

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Located at 21-23 Cordelia Street, <a href="https://www.apartments.com.au/developments/south-brisbane-qld-4101">South Brisbane</a>, Symphony will feature a collection of 138 high-quality apartments, offering spacious one, two and three-bedroom layouts, with prices starting from $655,000.

“It’s no secret that affordability remains a huge issue in today’s market, and many people are simply being priced out,” Leet added.

“We at Sherpa see it as our responsibility to bring well-designed, fairly priced homes to market – that’s what we stand for.”

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Residents will have access to a resident rooftop with offers over 1,400 sqm of premium resort-style amenities across two levels. These include a wellness centre with a steam room, sauna, hot and cold plunge pools, a heated pool, as well as pool deck cabanas, private outdoor barbecues, a private dining room, a fully equipped gym, and a yoga room, all with views of the Brisbane skyline and Mt Coot-tha.

Sherpa has also hired a full-time concierge service to assist buyers with the off the plan process, from construction updates, hard hat tours, to showing and helping residents use their appliances once they have moved in.&nbsp;

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“Every amenity at Flourish has been designed to help foster a sense of community,” said Danial Clarke, Development and Financial Manager of Sherpa Group.&nbsp;

“The rooftop will be a sanctuary from the city, a place where residents can connect, relax, and ultimately flourish.”

Positioned at the junction of South Bank, West End, and Fish Lane, Symphony offers exceptional walkability to QPAC, galleries, riverside parklands, the CBD, major universities, hospitals, and transport hubs.

Sherpa has already appointed LPS Group to build Symphony. The duo are working together on Sherpa's Palm Beach portfolio.

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Sherpa officially launches Symphony South Brisbane

Global Ranking

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The 2021 Demographia International Housing Affordability Survey ranks Australia as having two of the most expensive housing markets in the world.

This year’s report assesses 92 major metropolitan markets in eight nations in the third quarter of 2020 with 36 severely unaffordable major housing markets.

The 10 least affordable were ranked as Hong Kong, Vancouver, Sydney, Auckland, Toronto, Melbourne, San Jose, San Francisco, Honolulu and London.

It is presented by the Urban Reform Institute and the Frontier Centre for Public Policy who work on a price to income ratio.

"It is not surprising that housing affordability — given the large influx of new buyers, particularly in suburban and outlying areas — has continued to deteriorate," institute president Charles Blain advised.

"As a result many low-income and middle-income households who already have suffered the worst consequences from housing inflation will see their standards of living further decline."

The report noted virtually all of the markets with severely unaffordable housing have urban containment policies that severely restrict building on their periphery.

It noted by 2004, all of the major markets of Australia had become severely unaffordable. "National price-to-income ratios were 3.0 or less in Australia, Canada, Ireland, New Zealand, the United Kingdom and the United States until the late 1980s or 1990s.

"However since that time, housing affordability has deteriorated significantly and by 2019 national median multiples had increased to 4.0 in the United States and Canada, nearly 6.0 in Australia and 7.0 in New Zealand," it noted.

<h2>Recently listed properties:</h2>

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The report assesses 92 major markets in metropolitan areas across eight nations

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2021 Demographia International survey ranks Australia among the most expensive housing markets

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Australia slipped to 19th in the world for house price growth for the year to June 2020, according to the Knight Frank Global House Price Index Q2 2020.
In the same report for Q1, Australia had ranked 10th.
But it was still up 37 places from one year ago, when we were 56th, with negative growth over the previous 12 months of -7.4 per cent.
Over the last quarter, Australia was down -2 per cent, which made the house price growth 6.1 per cent higher for the year to date.
Topping the charts was turkey, whose 12 months change was up 25.7 per cent, with 11.2 per cent over the last quarter.
New Zealand was the best performing country in Asia Pacific, with growth of 9.1% over the past year, but it slipped in the rankings from 2 to 11 between March and June.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/8/Global%20Top%2020.jpg" alt="">
 
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<div>Knight Frank’s head of residential research Australia Michelle Ciesielski said the data in the most recently released Knight Frank Global House Price Index Q2 2020 was backward-looking, covering the year up to June 30, when the COVID-19 pandemic had hit most global markets.</div>
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<div>“It is not unusual for official house price indices to be published with a two or three month time lag, but this quarter 29* of the 56 countries and territories we track have yet to report their figures for Q2 2020, no doubt as a direct result of Covid-19 and operational challenges,” she said.</div>
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<div>“Despite this the data still offers a glimpse into the impact of COVID-19, with the number of countries and territories seeing a decline in prices increasing again. In total nine per cent of the areas tracked registered annual price declines in Q2 2020.</div>
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“While annual price growth in Australia has fallen slightly from the previous quarter, growth is still positive and 1.4 per cent higher than the average annual price change of 4.7% across the 56 countries and territories tracked in the index. 
“Australia has dealt with the COVID-19 pandemic better than some other countries and territories around the world, with the length and severity of the lockdown not as strong, which partly explains its stable performance. 
“However, it can also be attributable to the state of the housing market prior to the pandemic, with Australia’s market strong heading into 2020 with demand high and stock levels low.” 
Knight Frank national head of residential Shayne Harris said Australia’s housing market has seen continued demand throughout the pandemic, but fewer transactions due to sellers choosing to ‘wait and see’ how the pandemic would play out. 
“In Sydney the market continues to be underpinned by a severe shortage of stock for sale by both auction and private treaty,” he said. 
“Whilst in the past eight weeks the difficulties around obtaining finance have seen the number of registered bidders thin out at auction, the clearance rate remains stable as do prices across the inner and middle rings of metropolitan Sydney. 
“In Melbourne market conditions have been in steady decline for the past four months, with volumes and prices heading gradually south, although there was a very slight uptick in August. 
“The cities second lockdown, combined with reliance on overseas immigration and education to support the market, could see these conditions continue beyond the other capital cities who are ahead of the curve in relation to recovery. 
“In Brisbane quicker recovery from the pandemic than expected, combined with a tight apartment supply pipeline, has seen the Brisbane market emerge in a very strong position for 2021 and beyond. 
“Coming off an extended period of low price growth Brisbane’s affordability is the best capital city side by side with Perth in the short to medium term.”
 
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Australia drops down rankings in Knight Frank's Global House Price Growth Index

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How do Australian house prices compare to the rest of the world? REA's Nerida Conisbee

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Sydney has been ranked in top six of ultra-prime cities globally for number of residential sales above US $25 million, according to Knight Frank's assessment of the global ultra-prime residential market.
Hong Kong is the city with the highest number of ultra-prime sales, with New York and London ranked in second and third place.
Sarah Harding, Knight Frank partner for head of residential, said in a global market, Sydney remains the destination of choice for high net worth individuals due to a number of factors including the lifestyle and relative political stability.
“All ultra-prime transactions in Sydney over the past three years occurred in the Eastern Suburbs and all were for houses," Harding said.
"However, this is based on completed properties and we expect that off-plan sales will further increase these numbers when further prestige apartment buildings in Sydney are completed.
“In the 12 months ending August 2018, the total value of ultra-prime properties (over US $25 million) sold in Sydney was US $219 million across five transactions.
“Whilst Sydney is one of the smallest city markets in regard to transaction levels, it has some of the most spacious properties with the typical transaction encompassing plots of land, and an average saleable area of 1,976 square metres.
“Not only do the properties cover large areas, but the majority have waterfront views and a private swimming pool." 
The 12 month period to August 2018 shows a slight decline in Sydney from last year, but well up on the total value of transactions from 2015 and 2016.
The number of transactions in Sydney has been steady since 2015.
Click here to enlarge.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/12/11/Knight-Frank.jpg" alt="">
Knight Frank partner, Crown Residences at One Barangaroo, Erin van Tuil, said Sydney is now established as one of the world’s top ultra-prime city markets. 
"We have seen the reality of this in the market response to Crown Residences at One Barangaroo. Crown Residences has now offered UHNWIs a viable alternative to the traditional, free-standing harbour-side home in Sydney. 
“In Crown Residences, Sydney now has apartments that actually respond to the needs of UHNWIs; space, views, location, stunning design and of course the impeccable service of Crown Resorts. 
"I would expect to see transactions over US$25m increase over the coming years in Sydney.” 
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Sydney ranks in top six of ultra-prime cities globally for amount of prestige sales

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Australia continues to lead the world’s green building sector with further growth predicted over the next three years, according to a new global report.
The <a href="https://www.construction.com/toolkit/reports/world-green-building-trends-2018" target="_blank">World Green Building Trends 2018 SmartMarket Report</a>, released by Dodge Data and Analytics today, indicates support for the green building sector is growing globally, with organisations across the construction industry shifting towards more sustainable materials and practices.
It noted third-party certification systems such as the Green Building Council of Australia’s (GBCA) Green Star rating system were being used to make buildings perform more efficiently yielding both commercial and environmental gains.
“The drivers for green building in Australia are noted as market demand, client demand and improving occupant health and wellbeing.” the report states.
“Australia is also notably higher than the global average for each of these factors, demonstrating the sway they have on encouraging the green building market in this country.”
More than 2000 industry stakeholders across 86 countries, including architects, engineers, contractors, owners, consultants and investors, were surveyed for the report, including GBCA members.
It found 94% of Australian respondents are involved in green building projects, and a two-third majority (67%) report at least a moderate level of green activity, with 30% share or more of their work in the sector. Notably, 46% of respondents reported more than 60% of their projects were in the green building space, the highest of any country, and 64% expected by 2021 the majority of their work would be in green building.
GBCA Chief Executive Officer Romilly Madew said the results were a testament to the continued commitment and leadership of the Australian property sector to sustainably transform the built environment.
“Australia’s green building sector is continuing to innovate and is leading the world,” Madew said.
“The GBCA and its Green Star rating system continue to support the industry to set and maintain ambitious sustainability standards and provide guidance in the delivery of better outcomes on the ground for building owners, tenants, users and the broader community. 
“2018 has been monumental for the GBCA and just last month we certified our 2000th Green Star project.
“Understandably, commercial property continues to perform strongly in the adoption of green building in Australia driven by world-leading investor and market demand. Thirty-seven percent of Australia’s office space is now Green Star certified. 
“As green building expands we see huge growth opportunities in social infrastructure, led through government procurement, and in the residential sector.
“Investor demand to effectively manage climate risk and meet ambitious carbon reduction targets continues to be a major driver for green building. Increasingly though, there is a realisation of the wider social and economic benefits from a holistic approach to sustainability, for example improvements in health and well-being, amenity and liveability.
“The GBCA will continue to work with government and industry to ensure Australia continues to realise the benefits of its global leadership as evidenced in this report.”
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Australia leading the way as green building booms globally

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GUEST OBSERVATION
Melbourne lost its “most liveable city” title and is confronting being runner-up to Vienna after seven years at the top. These rankings are based on The Economist Intelligence Unit’s Global Liveability Index, which “assesses which locations around the world provide the best or the worst living conditions”.
But the tool was actually designed to help companies decide how much “hardship” allowance they would need to pay employees who relocate. So, The Economist suggests that none of the top cities – including Melbourne, Vienna and other Australian cities – need a hardship allowance at all. But it recommends a 20% allowance for cities at the bottom of the ranking like Port Moresby, Tripoli and Karachi.
Despite the hype, the Global Liveability Index focuses on things that matter to expats, not citizens. This is different to what is important to the average person living in Vienna, Melbourne or any other city – such as housing affordability, walkability, access to public transport and education, and the number of bike paths.
What the index measures
The Economist’s Global Liveability Index uses 30 indicators to measure five categories of liveability: stability (safety), health care, culture and environment, education, and infrastructure. And 26 of the indicators are based on the “judgement of in-house expert country analysts and a field correspondent based in each city”.
These unknown critics score the performance of a city as acceptable, tolerable, uncomfortable, undesirable or intolerable.
There is no freely available information about the qualifications of these judges, why the categories were chosen to represent liveability, or how indicators in a category are weighted. While the summary report is free, a more detailed report will set you back US$620 and the actual data sets a smooth US$9,210, which we didn’t purchase. Our comments are based on the freely available information.
It appears that, beyond the well-designed league tables and flurry of media attention, The Economist’s Global Liveability Index is a mostly subjective rating with opaque methods for comparing cities.
Take for example the stability category. This includes crime, terror attacks and civil unrest, and makes up 25% of the total liveability score. Out of 100, Melbourne, Sydney and Adelaide are judged to be five points less “stable” than Vienna, Osaka and Toronto. But there is no information on how The Economist’s experts came up with this conclusion.
Some of the indicators could be objectively measured, such as the prevalence of violent and petty crime, but they are still given a rating by The Economist’s experts. It isn’t clear what types of crime are included in this decision or how they are weighted.
Two indicators rate the availability and quality of private education, but there are no equivalent indicators for public education. Most students (65.6%) in Australia are enrolled in government schools. So, for the average family in Australia the availability and quality of the public education system is more important than private.
And, most importantly, the index seems to miss the things that affect the lived experience of city residents. Although housing “quality” and the availability and quality of private education are included, housing affordability, traffic congestion, walkability and lack of public transport, bike paths and essential services don’t appear to be in the index.
Yet these are some of the real problems facing Australians.
What it doesn’t measure
Both Sydney and Melbourne got full points in the “infrastructure” category. This includes the quality of public transport and roads, international links and quality of water provision and telecommunications.
While this may be true for inner-city residents, our research has found that some suburbs – particularly those on the urban fringe – are less lucky. Public transport in particular is often missing in outer suburbs. The index doesn’t consider how liveability is distributed across a city and if some people are missing out.
It also doesn’t take into account the environmental sustainability of cities. One study, which compared the liveability score of cities with their ecological footprint, found that Vienna’s is almost half that of Sydney, Melbourne and Brisbane. However, none of these cities was found to be sustainable.
Better measures of liveability
If we really want to create liveable cities that promote the quality of life of citizens, we need transparent and objective measurements.
Our team has previously defined the key ingredients of a liveable city. These include safety, environmental sustainability and affordable and diverse housing linked by public transport, walking and cycling infrastructure to employment and the amenities needed for daily living.
These measures are based on our research of what affects the health and well-being of communities.

Chasing the hollow crown of the Global Liveability Index will not make Melbourne or any other city a better place to live. Instead, all levels of government should focus on creating and implementing policies that improve the liveability of cities for their residents.
Julianna Rozek, Research Officer, Healthy Liveable Cities Group, Centre for Urban Research, RMIT University
Billie Giles-Corti, Director, Urban Futures Enabling Capability Platform and Director, Healthy Liveable Cities Group, RMIT University
Lucy Gunn, Research Fellow, Centre for Urban Research, RMIT University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/the-worlds-most-liveable-city-title-isnt-a-measure-of-the-things-most-of-us-actually-care-about-101525" target="_blank">original article</a>.
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The ‘most liveable city’ title doesn't mean what you probably think it does

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The main story from this quarter’s data is of slowing growth. 
Overall, the index increased by 5.1% year-on-year compared with 6.3% last quarter, so the index’s lowest rate of annual growth since the start of 2016. 
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Although nearly nine in every ten of the countries tracked by our index recorded positive annual price growth in the year to September 2017, almost half saw their rate of annual growth decline compared with the previous quarter. 
The shift was most evident at the top of the rankings table. Thirteen of the 15 strongest- performing housing markets around the world registered a slowdown in their rate of annual growth in the year to September.
But Australia was placed seventh in Knight Frank’s Global House Price Index for the September quarter, surging 25 places from 2016.  
The global index tracks housing market performance across 56 countries worldwide.
Click here <a href="https://www.propertyobserver.com.au/images/2017/12/7/figure1.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/7/figure1.jpg" alt="">
Iceland leads our annual rankings with average prices ending the year to September 20.4% higher, down from 23.2% last quarter. Iceland has now topped our annual rankings for four consecutive quarters. 
Hong Kong has clung on to second place but data from the Hong Kong Ratings and Valuation Department shows price growth equated to only 1.7% in the three months to September. 
Estonia, Hungary and New Zealand have dropped out of the top ten this quarter. New Zealand slipped from 10th place to 27th as annualised price growth declined from 10.4% to 5.2%. Tighter lending conditions and plans to introduce a ban on foreign investors in 2018 have potentially reduced some of the speculative activity in the market.
Click here <a href="https://www.propertyobserver.com.au/images/2017/12/7/Figure2.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/7/Figure2.jpg" alt="">
This quarter marks the inclusion of Saudi Arabia within the index for the first time. Latest data shows prices slipped 5.4% on an annual basis meaning it is second only to Ukraine as the weakest-performing market. The oil-dependent Saudi economy is struggling to gain traction, which along with the recent introduction of a levy on expatriate workers is stifling housing demand.
The US and the UK are following different trajectories, mirroring their economic performance. Average prices in the US accelerated 6.2% over the 12-month period, up from 5.8% last quarter whilst the UK has incurred a marginal dip from 2.8% to 2.6%. The UK market remains highly localised with affordability a key concern in many markets.
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Click here <a href="https://www.propertyobserver.com.au/images/2017/12/7/Figure3.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/7/Figure3.jpg" alt="">
China has slipped from 12th to 19th position in our rankings. House prices are now rising at their slowest rate for five quarters, up by 6.5% on an annual basis according to the National Bureau of Statistics.
European housing markets are firmly back in the spotlight. On average, the region recorded 5.6% annual price growth in the year to September, up from 2.3% three years ago. The good news for Europe doesn’t end there. Greece (0.7%) may finally see price growth reach positive territory over the next quarter after nine years of negative annual growth.
Despite Europe’s recent recovery, analysis over a five and 10-year period underlines the extent to which countries within Asia Pacific still rank amongst the highest performers. (Figure 4).
Click here <a href="https://www.propertyobserver.com.au/images/2017/12/7/Figure4.jpg" target="_blank">to enlarge.</a>
<a href="https://www.propertyobserver.com.au/images/2017/12/7/Figure4.jpg" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/7/Figure4.jpg" alt=""></a>
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The Knight Frank Global House Price Index, established in 2006, allows investors and developers to monitor and compare the performance of mainstream residential markets around the world. The index is compiled on a quarterly basis using official government statistics or central bank data where available. The index’s overall performance is weighted by GDP on a Purchasing Power Parity basis and the latest quarter’s data is provisional pending the release of all the countries’ results. 
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Australia surges to 7th place in weakening Global House Price Index: Knight Frank

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Knight Frank’s Global House Price Index: Q3 2017, which tracks housing market performance across 56 countries worldwide, has found that Australia defied the global trend by moving up to 7th position, maintaining 10.2 percent growth over the past quarter.
They move from 11th in the last quarter, also with a growth of 10.2 percent.
Overall, global house prices have increased by 5.1 percent in the year to September 2017. This is down from 6.3 percent growth the previous quarter.
The 5.1 percent growth represents the index's lowest rate of annual growth since the beginning of 2016.
Iceland leads the index for the 4th consecutive quarter, but its rate of growth has slowed.
European housing markets averaged 5.6% price growth in the year to September, up from 2.3% three years ago, while China has slipped from 12th to 19th position in the rankings as tighter macro-prudential regulations bite.
Knight Frank Australia's head of residential research Michelle Ciesielski noted Australia's strengthened position.
“The Global House Price Index has weakened, and now represents the lowest increase since the start of 2016. However, Australia’s annual price growth has been maintained at 10.2% in Q3 2017," she said.
“Interestingly, with weaker growth across the global marketplace, our ranking has moved up four spots to seventh place – we are also one of just seven cities tracked globally still performing with double-digit growth.
“Over the past five years to Q3 2017 the Asia Pacific region has dominated price growth led by India (76.1%), Hong Kong (60.1%) and New Zealand (56%).
“Australia was fifth in the region over this time, with total growth of 45.9%.” (See figure 4 below).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/7/Figure4.jpg" alt="">
Sarah Harding, Head of Residential at Knight Frank Australia said that other capitals are making up for the Sydney drop.
"Although some of the heat has been taken out of the Sydney residential market of late, Melbourne, Hobart and Canberra are thriving – driving up total annual growth," Harding said.
“Additionally, the worst appears to be behind Perth’s residential markets and this is also contributing positively to the overall Australian performance.
“As investors find it increasingly harder to obtain finance, we’re experiencing more enquiries from owner-occupiers, including those looking to downsize, and we’re starting to see the return of first-time buyers to the market."
 
 
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Australia defies global trend in Global House Price Index: Knight Frank

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Sydney and Melbourne have again topped the global list for office rental performance, taking out the 2 top spots for annual prime office rental growth in the third quarter.
JLL’s latest <a href="http://www.jll.com/gmp/Global-Office-Index" target="_blank" style="font-size: 12.16px;">Global Office Index for Q3</a> shows Sydney way out in front globally in number one spot for annual growth between Q3 2016 and Q3 2017.  Sydney recorded 30.1% annual growth in prime rents.  Melbourne recorded 17.3% year-on-year growth for the same period, pushing it to the second global spot.
US cities came in next, with San Francisco Peninsula in third at 12.9% annual rental growth, New Jersey at 12.2% and Portland in 5th spot at 10.4%.
Click here <a href="https://www.propertyobserver.com.au/images/2017/11/29/Global%20office%20index.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/29/Global%20office%20index.jpg" alt="">
JLL’s Head of Office Leasing – Australia, Tim O’Connor said, “Sydney has consistently featured in the Top 10 Global performers rankings for the past 5 years and Melbourne for the past 2 years.
“Two years ago, Sydney ranked number one, while Melbourne was ranked fifth. While the Sydney story has continued on the back of centralisation, stock withdrawals and growth from the technology sector in particular, Melbourne is now following hot on the heels.
“The sharp reduction in vacancy that precipitated the upward pressure in Sydney and Melbourne rents has been amplified by the lack of available new supply coming on line in the short term. The number of options for larger space users in existing stock now means demand will be expressed through additional pre-commitment activity,” said Mr O’Connor.
JLL Charts below showing global rental performance over the past 2 and 5 years for comparison of Sydney and Melbourne rankings two and five years ago:
Two year global rental performance. Click here <a href="https://www.propertyobserver.com.au/images/2017/11/29/2%20year%20global%20rental%20performance.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/29/2%20year%20global%20rental%20performance.jpg" alt="">
Five year global rental performance. Click here <a href="https://www.propertyobserver.com.au/images/2017/11/29/5%20year%20global%20rental%20performance.jpg" target="_blank">to enlarge.</a>
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/29/5%20year%20global%20rental%20performance.jpg" alt="">
 
JLL’s Q3 <a href="http://www.jll.com/gmp/Global-Office-Index" target="_blank">Global Office Index</a> states that rental growth for prime offices across the 125 major markets covered by the JLL Global Office Index continued to pick up pace in Q3 2017, rising by 2.7% year-on-year. 
This was significantly above the 10-year average growth of 1.6%.
Momentum is expected to continue with above-average increases in 2018, with a projected uplift of 3% for the full year 2017 and 2.3% globally next year. 
JLL Head of Research – Australia, Andrew Ballantyne said, “Sydney and Melbourne effective rental growth was in double digit territory over 2016 and 2017. We expect that effective rental growth will ease back from this rate in 2018. 
“Nevertheless, Sydney and Melbourne effective rental growth is projected to remain above 7% in 2018 with the potential to be even higher if the competition for space exerts further downward pressure on leasing incentives,” said Mr Ballantyne. 
JLL’s Victorian Managing Director, David Bowden said, “Melbourne’s rental growth story has been strengthening since mid-2016. 
“Limited new supply and strong office sector demand have combined to put significant upward pressure on face rents. Asset owners took a while to adjust their incentive expectations however these started coming down at the end of 2016. 
“Melbourne’s CBD office market is benefiting from strong population growth which is fuelling business expansion in a diverse range of sectors. In 2016, the leasing market had the highest net absorption since 1978 and has remained strong in 2017, dominated by small business expansion which has accounted for over 63% of office sector demand. 
“New rental benchmarks have been set this year for both existing assets and for the new stock due to come to the market over 2018 – 2020,” Bowden said.
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Sydney and Melbourne rank top two globally for office rents growth: JLL

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Australia ranks above Taiwan and below Switzerland in the Global Property Guide with a price per square metre of $7,250 and annual yield at 4.39%.
<table style="height: 1624px; width: 326px;" border="1">
<colgroup>
<col>
<col>
<col>
<col>
</colgroup>
<tbody>
<tr>
<td class="s0" colspan="4">GLOBAL PROPERTY GUIDE</td>
</tr>
<tr>
<td class="s1" colspan="4">RENTAL YIELDS GLOBAL PROPERTY GUIDE</td>
</tr>
<tr>
<td class="s2"> </td>
<td class="s2"> </td>
<td class="s2"> </td>
<td class="s2"> </td>
</tr>
<tr>
<td class="s3">Apartments in</td>
<td class="s4">Price/sq. m</td>
<td class="s4">Rent/mo.</td>
<td class="s5">Yield/ p.a</td>
<td class="s6"> </td>
<td class="s6"> </td>
<td class="s6"> </td>
<td class="s6"> </td>
<td class="s6"> </td>
<td class="s6"> </td>
<td class="s6"> </td>
<td class="s6"> </td>
<td class="s6"> </td>
<td class="s6"> </td>
<td class="s6"> </td>
<td class="s6"> </td>
<td class="s6"> </td>
<td class="s6"> </td>
</tr>
<tr>
<td class="s7">UK</td>
<td class="s8">€25,575.00</td>
<td class="s8">€8,213.00</td>
<td class="s8">3.21%</td>
</tr>
<tr>
<td class="s7">Hong Kong</td>
<td class="s8">$22,814</td>
<td class="s8">$6,431</td>
<td class="s8">2.82%</td>
</tr>
<tr>
<td class="s7">USA</td>
<td class="s8">$18,499</td>
<td class="s8">$7,225</td>
<td class="s8">3.91%</td>
</tr>
<tr>
<td class="s7">Singapore</td>
<td class="s8">$15,251</td>
<td class="s8">$4,332</td>
<td class="s8">2.83%</td>
</tr>
<tr>
<td class="s7">Japan</td>
<td class="s8">$14,409</td>
<td class="s8">$5,393</td>
<td class="s8">3.74%</td>
</tr>
<tr>
<td class="s7">France</td>
<td class="s8">€13,639.00</td>
<td class="s8">€3,938.00</td>
<td class="s8">2.89%</td>
</tr>
<tr>
<td class="s7">Russia</td>
<td class="s8">€11,866.00</td>
<td class="s8">€3,820.00</td>
<td class="s8">3.22%</td>
</tr>
<tr>
<td class="s7">India</td>
<td class="s8">$11,455</td>
<td class="s8">$2,540</td>
<td class="s8">2.22%</td>
</tr>
<tr>
<td class="s7">Austria</td>
<td class="s8">€10,807.00</td>
<td class="s8">€2,351.00</td>
<td class="s8">2.18%</td>
</tr>
<tr>
<td class="s7">Israel</td>
<td class="s8">$10,166</td>
<td class="s8">$2,318</td>
<td class="s8">2.28%</td>
</tr>
<tr>
<td class="s7">Switzerland</td>
<td class="s8">€10,020.00</td>
<td class="s8">€3,816.00</td>
<td class="s8">3.81%</td>
</tr>
<tr>
<td class="s7">Australia</td>
<td class="s8">$7,250</td>
<td class="s8">$3,182</td>
<td class="s8">4.39%</td>
</tr>
<tr>
<td class="s7">Taiwan</td>
<td class="s8">$7,112</td>
<td class="s8">$1,117</td>
<td class="s8">1.57%</td>
</tr>
<tr>
<td class="s7">Bermuda</td>
<td class="s8">$7,056</td>
<td class="s8">$5,597</td>
<td class="s8">4.76%</td>
</tr>
<tr>
<td class="s7">BVI</td>
<td class="s8">$6,469</td>
<td class="s8">$3,071</td>
<td class="s8">2.85%</td>
</tr>
<tr>
<td class="s7">Canada</td>
<td class="s8">$6,399</td>
<td class="s8">$2,672</td>
<td class="s8">4.18%</td>
</tr>
<tr>
<td class="s7">Finland</td>
<td class="s8">€6,214.00</td>
<td class="s8">€2,254.00</td>
<td class="s8">3.63%</td>
</tr>
<tr>
<td class="s7">Italy</td>
<td class="s8">€5,930.00</td>
<td class="s8">€2,288.00</td>
<td class="s8">3.86%</td>
</tr>
<tr>
<td class="s7">Luxembourg</td>
<td class="s8">€5,669.00</td>
<td class="s8">€2,180.00</td>
<td class="s8">3.85%</td>
</tr>
<tr>
<td class="s7">UAE</td>
<td class="s8">$5,538</td>
<td class="s8">$3,340</td>
<td class="s8">6.03%</td>
</tr>
<tr>
<td class="s7">New Zealand</td>
<td class="s8">$4,964</td>
<td class="s8">$1,765</td>
<td class="s8">6.09%</td>
</tr>
<tr>
<td class="s7">Netherlands</td>
<td class="s8">€4,907.00</td>
<td class="s8">€2,675.00</td>
<td class="s8">5.45%</td>
</tr>
<tr>
<td class="s7">Denmark</td>
<td class="s8">€4,279.00</td>
<td class="s8">€2,071.00</td>
<td class="s8">4.84%</td>
</tr>
<tr>
<td class="s7">South Africa</td>
<td class="s8">$4,214</td>
<td class="s8">$1,636</td>
<td class="s8">3.88%</td>
</tr>
<tr>
<td class="s7">Cayman Is.</td>
<td class="s8">$4,163</td>
<td class="s8">$3,018</td>
<td class="s8">7.25%</td>
</tr>
<tr>
<td class="s7">Germany</td>
<td class="s8">€4,078.00</td>
<td class="s8">€1,362.00</td>
<td class="s8">3.34%</td>
</tr>
<tr>
<td class="s7">Brazil</td>
<td class="s8">$3,751</td>
<td class="s8">$1,765</td>
<td class="s8">4.71%</td>
</tr>
<tr>
<td class="s7">Lebanon</td>
<td class="s8">$3,693</td>
<td class="s8">$2,082</td>
<td class="s8">4.51%</td>
</tr>
<tr>
<td class="s7">Thailand</td>
<td class="s8">$3,638</td>
<td class="s8">$1,837</td>
<td class="s8">5.05%</td>
</tr>
<tr>
<td class="s7">Bahamas</td>
<td class="s8">$3,632</td>
<td class="s8">$2,964</td>
<td class="s8">8.16%</td>
</tr>
<tr>
<td class="s7">St Kitts and Nevis</td>
<td class="s8">$3,496</td>
<td class="s8">$1,712</td>
<td class="s8">4.90%</td>
</tr>
<tr>
<td class="s7">Spain</td>
<td class="s8">€3,442.00</td>
<td class="s8">€1,345.00</td>
<td class="s8">3.91%</td>
</tr>
<tr>
<td class="s7">Czech Rep.</td>
<td class="s8">€3,384.00</td>
<td class="s8">€1,415.00</td>
<td class="s8">4.18%</td>
</tr>
<tr>
<td class="s7">Turkey</td>
<td class="s8">€3,324.00</td>
<td class="s8">€1,346.00</td>
<td class="s8">4.05%</td>
</tr>
<tr>
<td class="s7">St Martin</td>
<td class="s8">$3,267</td>
<td class="s8">$4,000</td>
<td class="s8">4.90%</td>
</tr>
<tr>
<td class="s7">Philippines</td>
<td class="s8">$3,156</td>
<td class="s8">$2,369</td>
<td class="s8">7.51%</td>
</tr>
<tr>
<td class="s7">Martinique</td>
<td class="s8">$2,979</td>
<td class="s8">$1,524</td>
<td class="s8">5.12%</td>
</tr>
<tr>
<td class="s7">Guadeloupe</td>
<td class="s8">$2,925</td>
<td class="s8">$1,445</td>
<td class="s8">4.94%</td>
</tr>
<tr>
<td class="s7">Cambodia</td>
<td class="s8">$2,913</td>
<td class="s8">$1,553</td>
<td class="s8">5.33%</td>
</tr>
<tr>
<td class="s7">Malaysia</td>
<td class="s8">$2,873</td>
<td class="s8">$1,004</td>
<td class="s8">3.50%</td>
</tr>
<tr>
<td class="s7">Slovenia</td>
<td class="s8">€2,843.00</td>
<td class="s8">€1,268.00</td>
<td class="s8">4.46%</td>
</tr>
<tr>
<td class="s7">Ukraine</td>
<td class="s8">€2,807.00</td>
<td class="s8">€2,550.00</td>
<td class="s8">9.09%</td>
</tr>
<tr>
<td class="s7">Andorra</td>
<td class="s8">€2,761.00</td>
<td class="s8">€942.00</td>
<td class="s8">3.41%</td>
</tr>
<tr>
<td class="s7">Chile</td>
<td class="s8">$2,749</td>
<td class="s8">$1,714</td>
<td class="s8">6.23%</td>
</tr>
<tr>
<td class="s7">Malta</td>
<td class="s8">€2,748.00</td>
<td class="s8">€888.00</td>
<td class="s8">3.23%</td>
</tr>
<tr>
<td class="s7">Indonesia</td>
<td class="s8">$2,692</td>
<td class="s8">$2,395</td>
<td class="s8">8.90%</td>
</tr>
<tr>
<td class="s7">Mexico</td>
<td class="s8">$2,635</td>
<td class="s8">$2,045</td>
<td class="s8">7.76%</td>
</tr>
<tr>
<td class="s7">Argentina</td>
<td class="s8">$2,632</td>
<td class="s8">$2,032</td>
<td class="s8">7.72%</td>
</tr>
<tr>
<td class="s7">Latvia</td>
<td class="s8">€2,618.00</td>
<td class="s8">€1,228.00</td>
<td class="s8">4.92%</td>
</tr>
<tr>
<td class="s7">Greece</td>
<td class="s8">€2,572.00</td>
<td class="s8">€984.00</td>
<td class="s8">3.83%</td>
</tr>
<tr>
<td class="s7">Poland</td>
<td class="s8">€2,482.00</td>
<td class="s8">€1,666.00</td>
<td class="s8">6.71%</td>
</tr>
<tr>
<td class="s7">Belgium</td>
<td class="s8">€2,420.00</td>
<td class="s8">€1,338.00</td>
<td class="s8">5.53%</td>
</tr>
<tr>
<td class="s7">Estonia</td>
<td class="s8">€2,373.00</td>
<td class="s8">€1,016.00</td>
<td class="s8">4.28%</td>
</tr>
<tr>
<td class="s7">Trinidad &amp; T.</td>
<td class="s8">$2,334</td>
<td class="s8">$1,607</td>
<td class="s8">6.88%</td>
</tr>
<tr>
<td class="s7">Serbia</td>
<td class="s8">€2,239.00</td>
<td class="s8">€994.00</td>
<td class="s8">4.44%</td>
</tr>
<tr>
<td class="s7">Peru</td>
<td class="s8">$2,074</td>
<td class="s8">$1,206</td>
<td class="s8">5.81%</td>
</tr>
<tr>
<td class="s7">Morocco</td>
<td class="s8">$2,015</td>
<td class="s8">$1,217</td>
<td class="s8">6.04%</td>
</tr>
<tr>
<td class="s7">Panama</td>
<td class="s8">$2,001</td>
<td class="s8">$1,799</td>
<td class="s8">8.99%</td>
</tr>
<tr>
<td class="s7">Lithuania</td>
<td class="s8">€1,998.00</td>
<td class="s8">€1,195.00</td>
<td class="s8">5.98%</td>
</tr>
<tr>
<td class="s7">Slovak Rep.</td>
<td class="s8">€1,982.00</td>
<td class="s8">€1,110.00</td>
<td class="s8">5.60%</td>
</tr>
<tr>
<td class="s7">Colombia</td>
<td class="s8">$1,893</td>
<td class="s8">$1,213</td>
<td class="s8">6.41%</td>
</tr>
<tr>
<td class="s7">St Lucia</td>
<td class="s8">$1,860</td>
<td class="s8">$1,108</td>
<td class="s8">3.57%</td>
</tr>
<tr>
<td class="s7">Cyprus</td>
<td class="s8">€1,790.00</td>
<td class="s8">€757.00</td>
<td class="s8">4.23%</td>
</tr>
<tr>
<td class="s7">Portugal</td>
<td class="s8">€1,771.00</td>
<td class="s8">€1,022.00</td>
<td class="s8">5.77%</td>
</tr>
<tr>
<td class="s7">Croatia</td>
<td class="s8">€1,764.00</td>
<td class="s8">€1,072.00</td>
<td class="s8">6.07%</td>
</tr>
<tr>
<td class="s7">Costa Rica</td>
<td class="s8">$1,642</td>
<td class="s8">$1,147</td>
<td class="s8">8.38%</td>
</tr>
<tr>
<td class="s7">Romania</td>
<td class="s8">€1,537.00</td>
<td class="s8">€1,193.00</td>
<td class="s8">7.76%</td>
</tr>
<tr>
<td class="s7">Hungary</td>
<td class="s8">€1,528.00</td>
<td class="s8">€1,154.00</td>
<td class="s8">7.55%</td>
</tr>
<tr>
<td class="s7">Aruba</td>
<td class="s8">$1,455</td>
<td class="s8">$1,774</td>
<td class="s8">7.32%</td>
</tr>
<tr>
<td class="s7">Jamaica</td>
<td class="s8">$1,404</td>
<td class="s8">$1,369</td>
<td class="s8">9.75%</td>
</tr>
<tr>
<td class="s7">Montenegro</td>
<td class="s8">€1,400.00</td>
<td class="s8">€1,055.00</td>
<td class="s8">7.53%</td>
</tr>
<tr>
<td class="s7">Nicaragua</td>
<td class="s8">$1,342</td>
<td class="s8">$1,596</td>
<td class="s8">7.13%</td>
</tr>
<tr>
<td class="s7">Ecuador</td>
<td class="s8">$1,278</td>
<td class="s8">$1,027</td>
<td class="s8">8.04%</td>
</tr>
<tr>
<td class="s7">Bulgaria</td>
<td class="s8">€1,222.00</td>
<td class="s8">€566.00</td>
<td class="s8">4.64%</td>
</tr>
<tr>
<td class="s7">Jordan</td>
<td class="s8">$1,211</td>
<td class="s8">$1,290</td>
<td class="s8">10.65%</td>
</tr>
<tr>
<td class="s7">El Salvador</td>
<td class="s8">$1,193</td>
<td class="s8">$1,013</td>
<td class="s8">8.49%</td>
</tr>
<tr>
<td class="s7">Kenya</td>
<td class="s8">$1,188</td>
<td class="s8">$820</td>
<td class="s8">6.90%</td>
</tr>
<tr>
<td class="s7">Macedonia</td>
<td class="s8">€1,134.00</td>
<td class="s8">€565.00</td>
<td class="s8">4.98%</td>
</tr>
<tr>
<td class="s7">Puerto Rico</td>
<td class="s8">$1,103</td>
<td class="s8">$801</td>
<td class="s8">7.26%</td>
</tr>
<tr>
<td class="s7">Moldova</td>
<td class="s8">€965.00</td>
<td class="s8">€965.00</td>
<td class="s8">10.00%</td>
</tr>
<tr>
<td class="s7">Egypt</td>
<td class="s8">$831</td>
<td class="s8">$977</td>
<td class="s8">9.40%</td>
</tr>
<tr>
<td class="s7">Tanzania</td>
<td class="s8">$700</td>
<td class="s8">$500</td>
<td class="s8">8.57%</td>
</tr>
<tr>
<td class="s7">Gambia</td>
<td class="s8">$667</td>
<td class="s8">$330</td>
<td class="s8">5.94%</td>
</tr>
<tr>
<td class="s7">Madagascar</td>
<td class="s8">$520</td>
<td class="s8">$320</td>
<td class="s8">7.38%</td>
</tr>
<tr>
<td height="15"> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td class="s9" colspan="4">SOURCE: globalpropertyguide.com with mixed pricing</td>
</tr>
</tbody>
</table>
</body></html>

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