According to ING, high interest rates and soaring building costs have drastically reduced the demand for new buildings in Europe.
Based on Knight Frank's 2023 Global Waterfront Index, waterfront property generated a 118% premium on average around the world, down only marginally from 121% last year, as Sydney retains the top spot.
The pandemic-induced housing boom continues with prices rising by 9.2% on average across 55 countries and territories in the year to June 2021.
International property consultant Knight Frank is reporting that urban house prices globally increased by 5.6% on average in 2020, up from 3.2% in 2019.