Knight Frank: Global House Price Index, Q1 2025

Knight Frank’s Global House Price Index provides a quarterly snapshot of trends across 55 mainstream housing markets worldwide. The latest figures show that global house price growth picked up in Q1 2025, with the weighted average rising 2.3% year-on-year, compared with 1.7% at the end of 2024. Although still below the long-term trend of 5.1%, the improvement reflects easing borrowing costs and renewed buyer activity in many parts of the world.

Key Findings:

• 2.3% average annual growth in house prices across our 55-market basket.
• -4.2% Turkey’s real annual price growth, despite 32.2% nominal growth
• 87% of markets are seeing positive annual price growth.
• 5.1% long-run trend rate of annual house price growth

Liam Bailey, global head of research at Knight Frank, commented: “ Global house-price growth has rebounded modestly above its long-run trend on the back of early rate cuts, but real affordability remains stretched. We believe further policy easing this year will be needed to sustain growth at or above trend.”

Local Market Insight

On a more local level, the Spanish Land Registrars Association reports that in Q1 2025, Andalusia’s average property prices rose 6.7% on the previous quarter and 9.7% year-on-year. Growth was stronger in Málaga province, with a quarterly rise of 10.6% and a 13.1% increase over the year. Marbella, Benahavís and Estepona — the Golden Triangle — together with the wider Costa del Sol, form part of this province. While these locations are not considered mainstream housing markets and tend to behave differently from capital cities, the figures underline the Costa del Sol’s role as one of the most dynamic and sought-after property markets in the region.

Read the full report: Knight Frank Global House Price Index Q1 2025.

Pia Arrieta, 18 Aug 2025 - News