China’s Housing Market Leads Global Real Estate Despite Recent Downturn
According to the Economic Desk of Webangah News Agency, more than 71% of the world’s total residential property value is concentrated in just 10 countries, which collectively shape global housing prices, investment flows, and market momentum. Despite post-pandemic challenges, global residential wealth now stands 19% above 2019 levels, primarily driven by housing price surges during COVID-19. However, China’s significant market downturn has exerted downward pressure on the global market as price declines and slowed construction have neutralized growth in other major economies.
China controls over one-quarter of global residential wealth, maintaining its position as the world’s largest housing market. Yet, its massive population results in relatively low per-capita housing wealth of approximately $52,000. Since 2021, strict debt regulations have plunged China’s property market into a prolonged slump, with construction, prices, and sales remaining under pressure even in major cities like Beijing and Shanghai despite multiple support policies.
The U.S. housing market has nearly doubled in value since 2020, increasing its share of global housing wealth from 11% to 18%. This growth was fueled by pandemic-era mortgages, though rising interest rates later created challenges. Japan’s market saw foreign investment growth due to yen depreciation, while Germany’s prices dropped 13% before showing recovery signs earlier than the UK. France anticipates positive 2026 prospects after recent loan cost reductions, and Canada faces persistent housing shortages despite foreign buyer bans.
Australia boasts the highest per-capita housing wealth at $258,000 among top markets, while South Korea’s housing sentiment improves amid limited Seoul apartment supply. Italy rejoined the top 10 in 2024, with Milan attracting foreign buyers, and projects 2026 transactions exceeding $166 billion.
