The latest house price survey by the Global Property Guide (GBG) reveals that only 15 countries, for which Q4 statistics are available, experienced property price increases last year, while 21 countries had house price reductions. H owever , 18 housing markets performed better in 2010 than the previous year, while 16 countries performed worse.

Outside of Europe, prices fell further in the US while price rises continued in some Asian countries including Singapore, Taiwan and Japan. The GBG stats look at price changes after inflation and the best performing markets include Singapore (+13.6%), Taiwan (+9.7%), Japan (+5.7%) and Thailand (+2.9%). These markets were supported by strong economic expansion and all-time low interest rates.

GBG report: ‘In Singapore government interventions put in place last summer have not dampened transaction volumes, but the fact that the price rise in the final quarter was only 1.8%, and that quarter-on-quarter prices rises have trended down since Q4 2009, suggests that home price rises in Singapore are finally moderating.

‘ Taiwan’shousing market remains hot, despite government efforts. Prices rose 9.7% during 2010, and a surprising 7.4% in the last quarter. These earlier price rises prompted the central bank to raise anew the benchmark interest rate to 1.6% amid concerns of house bubble formation, and to limit the LTV on loans for second houses to 60%.

‘In Japan condominium prices have been rising since January 2010 and the average price of existing condominiums in the Tokyo metropolitan area rose 5.7% year-on-year. Thailand is finally in positive territory after suffering house price declines since 2006.’