Developer Third.i has topped out its luxury Potts Point apartment development, <a href="https://www.apartments.com.au/new-apartments/muse-potts-point-30-34-brougham-street-potts-point-nsw-2011">Muse</a>.

Under construction by Dilcara and expected to complete in mid-2026, Muse comprises just 13 apartments designed by acclaimed architects <a href="https://www.apartments.com.au/architects/wmk-architecture">WMK Architecture</a> and Mathieson. The building’s design celebrates Potts Point’s heritage character while introducing refined modern elements like advanced building technology and private balconies and terraces that offer views of the Sydney city skyline.

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Luke Berry, Director &amp; Co-Founder at Thirdi Group, said Muse is a celebration of Potts Point’s unique character and charm.

"With only 13 residences, we’ve created something truly special for those who appreciate exclusivity and design excellence," Berry says"

"The views, the location, and the lifestyle make Muse a rare opportunity in Sydney’s property market. We’re thrilled to see the project take shape and look forward to welcoming our residents in mid-2026.”

[smartcode_project:default project_id=112613 project_image_fid=231686]

Only a limited number of residences remain at Muse.

Third.i recently launched The Rushcutters nearby, also just 13 large-scale apartments. The two-bedroom apartments were all snapped up in double-quick time. The three-bedroom apartments are priced from just under $5 million.

Potts Point has always been popular for apartment living, but given the lack of suitable development sites in the affluent suburb, new apartment developments have been few and far between.

Early next year Ceerose will launch <a href="https://www.apartments.com.au/new-apartments/belgravia-potts-point-117-victoria-street-potts-point-nsw-2011">Belgravia</a>, a mix of two- and three-bedroom apartments on Victoria Street.

[smartcode_project_cta:default project_id=112613]

Staff Writer

Third.i tops out Muse, Potts Point apartments

Buyer interest in Capital Corporation’s <a href="https://www.apartments.com.au/new-apartments/the-residences-at-wahroonga-estate-169-fox-valley-road-wahroonga-nsw-2076">The Residences at Wahroonga Estate</a> has been gaining momentum following the recent groundbreaking and the commencement of construction.

Enquiry data has pointed to a clear theme: larger apartments are leading demand, particularly among downsizers who want to remain on Sydney’s Upper North Shore.

Since June, three-bedroom layouts have attracted the highest level of enquiry. The three-bed, two-bath, two-car apartments priced from $1.69 million generated the most enquiries, the highest of any floorplan, followed by the larger three-bed garden residences which are priced at $2.25 million.

It's been a prevailing theme for Capital Corporation, who, in the early stages of marketing, reacted to buyer feedback to create more three-bedroom apartments.

The numbers echo what <a href="https://www.apartments.com.au/developers/capital-corporation">Capital Corporation</a> has observed since the project’s early stages. Buyers want generous internal space, established amenity and the ability to age in place without leaving the area.&nbsp;

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Capital Corporation Managing Director Jim Hunter said this was a major factor in the estate’s momentum, noting that “the combination of premium design, convenience and direct access to Sydney’s leading private hospital has proven to be a major drawcard”.

That connection to health and wellbeing has proven especially influential for older owner-occupiers. Research commissioned by Capital Corporation found that one in three Australians downsizing do so for health-related reasons, with a third specifically seeking proximity to medical facilities.&nbsp;

[smartcode_project:default project_id=135247 project_image_fid=262185]

The buyer profile emerging at <a href="https://www.apartments.com.au/developments/wahroonga-nsw-2076">Wahroonga</a> Estate reflects this shift. Local residents Peter and Corinne Collins, both in their mid-70s, are among those who chose to downsize within the suburb after decades in their family home. They secured a top-floor three-bedroom apartment after queuing on launch day in March, citing the bushland setting, walkability, and peace of mind of being close to medical services as key reasons for their purchase.

“Being able to walk everywhere, including to the hospital if we need to, really gave us peace of mind,” Corinne told Apartments.com.au.

Read more: <a href="https://www.apartments.com.au/news/nsw/from-family-home-to-bushland-retreat-why-peter-and-corinne-chose-the-residences-at-wahroonga-estate">From family home to bushland retreat: Why Peter and Corinne chose The Residences at Wahroonga Estate</a>

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Architecture firm <a href="https://www.apartments.com.au/architects/group-gsa">Group GSA</a>&nbsp;are behind the design at The Residences at Wahroonga Estate. There are 128 one-, two-, and three-bedroom apartments, complete with interiors&nbsp;by <a href="https://www.apartments.com.au/interior-designers/coco-republic-interior-design">Coco Republic</a>. Floor-to-ceiling glass maximises views of the bushland ridgeline, while on-site amenity includes a residents’ lounge, pet-friendly Green Spine, BBQ pavilion and direct access to Coups Creek bushland and walking tracks.

Gold Star iCIRT-rated builder&nbsp;<a href="https://www.apartments.com.au/builders/dasco-australia">DASCO</a>&nbsp;was&nbsp;appointed earlier this year to deliver The Residences at Wahroonga Estate. They are expected to complete the building in late 2027, with residents to move in shortly after.

[smartcode_project_cta:default project_id=135247]

Joel Robinson

Downsizer demand continues to shape The Residences at Wahroonga Estate

With Brisbane’s housing market soaring and home ownership becoming increasingly out of reach for many buyers, townhouses have emerged as the new urban dream, offering private, low-maintenance retreats complete with pools, parklands, and lifestyle amenities.

As Brisbane faces a growing shortage of quality new residential offerings, <a href="https://www.apartments.com.au/developers/honeycombes-property-group">Honeycombes Property Group</a> has released to the market Songbird Terraces, a boutique development of just 34 terrace homes in the heart of the leafy residential enclave of Oxley.

Offering a more affordable option to the white picket fence house, buyers can purchase a brand new architecturally designed three bedroom terrace home overlooking park and bushland with a communal heated pool, BBQ terrace, private parklands and an on-site café, while being just minutes from <a href="https://www.apartments.com.au/developments/oxley-qld-4075">Oxley</a>’s village centre, train station, and a range of schools and amenities.

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Each of the spacious three bedroom plus multi purpose room or four bedroom townhomes feature premium finishes, landscaped courtyards, designer kitchens, two-car accommodation, and optional upgrades for tailored living.

Honeycombes Property Group Managing Director Peter Honeycombe said with completion anticipated in early 2027, this was an incredibly rare chance to buy a fixed-price, brand-new, off the plan home in one of Brisbane’s most tightly held and liveable suburbs, without the stress of auctions and chaotic open homes.

“With prices starting from $1.195 million, <a href="https://www.apartments.com.au/new-townhouses/songbird-terraces-oxley-10-honeyeater-circuit-oxley-qld-4075">Songbird Terraces</a> are designed for owner occupiers seeking space, style and lifestyle, without the maintenance,” Honeycombe said.

“Surrounded by natural bushland and close to manicured parks, walking trails, boutique shops, cafes, cinemas and golf courses, Oxley continues to stand out as one of Brisbane’s most liveable suburbs.”

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<a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a> Residential Director Andrew Scriven said with a limited number of homes available, Songbird Terraces was attracting strong interest from families, upsizers, first home buyers and downsizers looking for quality, location and long-term value.&nbsp;

“Demand is high, supply is low, and the market is crying out for high-quality homes in established well connected areas like Oxley,” Scriven said.

“What was once seen as a compromise between a house and an apartment a townhouse has now become a lifestyle choice, more and more homebuyers are shifting their focus from traditional detached houses to modern, low-maintenance townhouses that offer greater value and convenience.

“As the city’s population grows and urban sprawl becomes less sustainable, Brisbane’s townhouse market is set to expand even further.&nbsp;

“There’s definitely a panic from buyers who’ve been pushed out of the house market but still want to stay in well-connected suburbs with great schools and amenities, they are worried they will miss out as property prices continually rise.”

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After eight years of calling Australia home, Agnes Skoraczewska and Matt Biskupski decided it was finally time to take the next step and purchase a home of their own. With property prices continuing to climb, the couple didn’t want to wait any longer and secured a three-bedroom plus multi purpose room townhouse at Songbird Terraces, locking in a fixed price ahead of their move in 2027.

“The truth is, we didn’t want to wait any longer,” Biskupski said. “Seeing what was happening in the market, we realised now was the right time to buy. It gives us peace of mind knowing we no longer have to worry about renting.”

When they discovered Songbird Terraces, the decision came easily.

“The area is lovely and quiet, yet still so close to the city, it’s the perfect balance for work and life,” Skoraczewska said. “It’s a place where we can recharge our batteries while staying connected to everything we need.”

[smartcode_project:default project_id=149443 project_image_fid=5237]

For Agnes and Matt, buying off the plan offered the ideal solution, the confidence of securing their dream home at today’s prices, and the excitement of planning for the future in a community that perfectly fits their lifestyle.

As the final residential precinct within the Songbird Oxley master plan, Songbird Terraces will continue to breathe new life into the area and help create a suburb destination rich in lifestyle amenity.

Colliers Residential Director Lily O'Connell said Songbird is positioned to take full advantage of elevated north and east-facing parkland views, the homes feature low-maintenance design and high energy efficiency to reduce ongoing costs while enhancing everyday comfort.

“And with an array of layouts, catering to a diverse range of lifestyles this is an offering for all,” O'Connell said.

“This is the final release in a masterplanned community that’s become one of Oxley’s most desirable addresses, offering a last chance to enter this community where opportunities are few and far between.”

The homes will be delivered by Clearcon Builders, specialists in premium townhome construction. They will commence construction before Christmas, and is aiming to complete the development in early 2027.

<h2>Songbird Terraces Snapshot</h2>

<ul>
	<li>34 architecturally designed 3 bedroom + multi-purpose room terrace homes.</li>
	<li>An array of layouts, catering to a diverse range of lifestyles.</li>
	<li>Perfectly positioned to take advantage of north and east views over park and bushland.</li>
	<li>A multi-purpose room, which can serve as a second living area, teen retreat, study or fourth bedroom.</li>
	<li>Designer kitchens featuring high quality engineered stone benchtops and European appliances.</li>
	<li>Spacious outdoor living areas and landscaped courtyards perfect for alfresco dining.</li>
	<li>Generous internal and external spaces, designed to take advantage of views overlooking park and bushland.</li>
	<li>Low maintenance, energy efficient &amp; two car accommodation.</li>
	<li>Access to a heated resort-style pool, outdoor entertaining terrace and beautifully landscaped gardens and park.</li>
</ul>

[smartcode_project_cta:default project_id=149443]

Songbird Terraces offer 34 architect-designed townhomes in private enclave, surrounded by bushland, parks and resort style amenity

Townhouse living, Brisbane’s new affordable urban dream?

Kirra Beach has been hot property since the onset of the pandemic in early 2021.

Development sites were snapped up, projects sold out, and many of those developments are now beginning to be handed over to purchasers.

The latest entrant to Kirra, timing its arrival perfectly with little to no new off the plan apartment stock currently on the market in the area, is <a href="https://www.apartments.com.au/developers/pyco-group">Pyco Group</a>, which is expanding its South East Queensland footprint through projects such as Atelier in West End and Nouveau in Albion, both currently under construction and scheduled for completion next year.

They recently launched <a href="https://www.apartments.com.au/new-apartments/onde-kirra-10-churchill-street-kirra-beach-qld-4225">Ondé Kirra</a>, quietly set on Miles Street just a stone’s throw from the sand and the world-renowned surf break at Rainbow Bay.

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The current release focuses on a wide variety of three-bedroom configurations, from layouts starting at $1.89 million and offering nearly 130 sqm of space, to larger three-bed options approaching 160 sqm and oriented north-east to capture views over the ocean and the length of the Gold Coast skyline.

Each apartment follows a layout that prioritises light, airflow, and connection to the outdoors. Interiors are shaped by a warm, coastal-inspired palette that balances soft neutral tones with natural timbers. Kitchens feature premium finishes and flow directly into dining and living zones, framed by full-height glazing. Many apartments offer wraparound views and corner orientations to maximise natural light from multiple angles.

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There are just 90 apartments in the 14-storey building designed by DAH Architecture.

Beyond the apartments, Ondé’s offering is rounded out by a series of resident-only amenities designed for comfort and practicality. These include a fitness studio, outdoor pool, co-working pods, and lush communal spaces on the ground floor.

[smartcode_project:default project_id=143621 project_image_fid=337597]

Rawcorp kicked off construction on site just over three months ago, demolishing the two houses and two original walk-up unit blocks.

The award-winning construction firm is expecting to complete Ondé&nbsp;in mid-2027.

[smartcode_project_cta:default project_id=143621]

Ondé Kirra times entry to booming southern Gold Coast market as apartment options shrink

The Wentworth Park Sporting Complex and its immediate surrounds will make way for new housing and sporting facilities, the latest rezoning play by the Minns Labor Government to meet Sydney's housing supply crisis.

The 3.3-hectare Wentworth Park Sporting Complex will be&nbsp;converted into community sporting fields and public green space, allowing for the rezoning of the surrounding area to support up to 2,500 additional well-located homes.

These are in addition to the 4,800 homes already planned or approved nearby, including around 2,000 homes on the old Sydney Fish Market and neighbouring sites, bringing the precinct total to as many as 7,300 new homes.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/mirvac-to-develop-over-1-400-new-homes-on-former-sydney-fish-market-site">Mirvac to develop over 1,400 new homes on former Sydney Fish Market site</a>

In addition to the new housing and sporting facilities, the Wentworth Park precinct will be immediately adjacent to transport links including a new ferry stop at Sydney Fish Markets, an upgraded light rail station at Wentworth Park, a continuous 15-kilometre coastal boardwalk from the Blackwattle Bay to Woolloomooloo, and the Pyrmont Metro station, which is set to open in 2032.

When the current greyhound lease expires in September 2027, the existing facilities will be demolished and the land transferred to the City of Sydney to be converted into community sports fields. Current estimates suggest around 20 additional sport fields are required in the city area by 2031 in order to meet the needs of the sporting community.

The new 14-hectare park will also be made available for hosting festivals and community events as a condition of the transfer to ensure the new harbourside parklands can be utilised by the whole community.

“We recognise Wentworth Park holds deep history and meaning for many people, and we know some will be disappointed by this change," NSW Premier Chris Minns said, adding however that "cities change, and we&nbsp;have a responsibility to plan for the future.

“Right in the middle of Sydney and connected by rail, light rail, ferries and the future Metro, our plan for the future of Wentworth Park will deliver much-needed new housing while also providing up to 20 new community sporting fields.

“This is more homes, more playing fields and better public spaces, alongside the infrastructure that makes neighbourhoods work. This is homes and community facilities delivered together, not one without the other.”

“This is how we build a fairer and more balanced Sydney. By creating new housing in well-serviced areas, instead of pushing growth to places without the transport and infrastructure to support it.”

Minister for Planning and Public Spaces Paul Scully said&nbsp;Wentworth Park has a long and proud history.

"Today we’re securing its future for the next generation," Scully said.

"This plan keeps land in the public hands and delivers new homes, new sporting facilities and new open space for a community that is growing fast. Our city is changing, and we have a responsibility to make sure people can live near the jobs, education and transport they rely on. We’ll continue working closely with the City of Sydney to deliver this rezoning in a timely way, and we’re ready to step in with a State-led rezoning if it’s needed."

Minns Gov to demolish Wentworth Park Sporting Complex to make way for 2,500 new homes and sporting facilities

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="">
 
<div>
<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>
<div> </div>
<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>
<div> </div>
<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>
<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.”
 
</div>
</div>
</div>
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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>
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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>
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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">
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<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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