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Norwegian property insurance holders see house prices rise 12%
03 Mar 2010
Posted by Jonathan Walker
Property insurance policyholders in Norway saw prices rise by 12 per cent last year as the Scandinavian country led the market recovery in Europe.
Figures from the Royal Institution of Chartered Surveyors showed that Finland recorded the second best recovery rate, with prices increasing by eight per cent in 2009.
Sweden enjoyed a seven per cent rise and the UK saw a one per cent increase last year, the report found.
However, property insurance policyholders in Spain, Greece and most central and eastern European countries were not so lucky.
They saw prices fall by between 27 and 53 per cent last year, while Germany, Italy, the Netherlands and France recorded modest declines of between four and six per cent.
"The shallowness of the downturn in core European housing markets has surprised many commentators," said Professor Michael Ball, author of the report.
Mark Stucklin, head of Spanishpropertyinsight.com, recently suggested that there would be fantastic opportunities for property insurance policyholders looking to purchase in Spain over the next two years.
