Europe’s property markets are surging. The Global Property Guide has compiled and analyzed the property price performance of the world’s big economies.

We have put together a list of the top 10 markets based on year-over-year, inflation-adjusted price performance as of the fourth quarter of 2014.

The chart accompanying each slide shows the year-over-year percentage change in house prices, with markets ranked from the least to most quickly appreciating.

10. South Africa

Home prices in South Africa rose 8.10% year-over-year, which was more than 2013’s increase of 3.91%.

Prices rose 1.95% from the previous quarter.

Source: Global Property Guide

 

9. UK (Nationwide)

Home prices in the UK rose 8.34% year-over-year, which was more than 2013’s increase of 7.07%.

Prices rose 0.10% from the previous quarter.

Source: Global Property Guide

 

8. Israel

Home prices in Israel rose 8.45% year-over-year, which was more than 2013’s increase of 7.38%.

Prices rose 2.01% from the previous quarter.

Source: Global Property Guide
7. Sweden

Home prices in Sweden rose 8.57% year-over-year, which was more than 2013’s increase of 3.90%.

Prices rose 1.16% from the previous quarter.

Source: Global Property Guide

 

6. Japan — Tokyo

Home prices in Japan rose 10.92% year-over-year, which was more than 2013’s increase of 5.58%.

Prices rose 5.75% from the previous quarter.

Source: Global Property Guide

 

5. Estonia (Tallinn)

Home prices in Estonia rose 12.09% year-over-year, which was less than 2013’s increase of 18.24%.

Prices rose 2.47% from the previous quarter.

Source: Global Property Guide

4. Hong Kong

Home prices in Hong Kong rose 13.26% year-over-year, which was more than 2013’s increase of 7.69%.

Prices rose 4.24% from the previous quarter.

Source: Global Property Guide

 

3. Ireland

Home prices in Ireland rose 16.29% year-over-year, which was more than 2013’s increase of 6.38%.

Prices rose 3.83% from the previous quarter.

Source: Global Property Guide

 

2. UAE — Dubai

Home prices in Dubai rose 16.48% year-over-year, which was less than 2013’s increase of 23.79%.

Prices fell 0.88% from the previous quarter.

Source: Global Property Guide

 

1. Turkey

Home prices in Turkey rose 16.89% year-over-year, which was more than 2013’s increase of 13.61%.

Prices rose 3.83% from the previous quarter.

Source: Global Property Guide