Location, Location, Location
Click for interactive overview of global house prices and rents:
Source: The Economist
The economist reports that residential-property markets around the world are slowing or falling: Year-on-year prices are now falling in 12 of the 21 major countries they track; in the other nine, prices are rising at a slower rate than they were a year ago for in five of them.
Note that the Economist data series on global house prices goes back only to 2002.