According to data from the last report of Global Property Guide the global booming in housing prices is coming to an end.

The data showed that only 13 countries reported an increase in housing prices for the first three months of this year from a total of 34 countries that had been monitored and included into the study.

The most serious downturn in housing prices was reported in Latvia - in May this year they were by 38% cheaper compared to the same period last year. Other countries which also reported a serious downturn were Ireland, Luxembourg and Portugal, respectively 13.2%, 5.8% and 4.3%.

In many of the countries, which has not reported a decline in prices for the period, a declining trend has already started to be seen, many analysts in the sector comment.

Even in the U.S. housing prices reported a certain decrease for the month of May, but unfortunately until now on an annual basis it remained quite negligible.

In most countries, which have strong economic growth, stronger and more stable growth in prices of properties is observed. For example, in Shanghai - one of the largest economic centers in China (recording a fast pace of economic growth), the costs of homes have gone up by 40%.

Countries with developing economies such as Bulgaria have also reported strong growth in housing prices - 32%.