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Global home prices rose 7.3% in the year to March, according to the Knight Frank Global House Price Index.
Turkey saw the largest price increase over the period, notching a 32% year-over-year bounce. New Zealand and Luxembourg followed with 22.1% and 16.6% increases, respectively. What began as a surging sales pace has since turned into a red-hot housing boom. Supply shortages have hindered a pick-up in construction activity, leaving prices to surge as demand holds strong.
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