FX.co ★ Top 10 cities with fastest growing home prices

10. Melbourne

Australia's second biggest city registered a rise in home prices of 13.2%.

Located on the South-West coast of the continent near the Port Phillip Bay, Melbourne is a capital of the Victoria state. This city has a status of the sports and cultural capital of Australia. It hosts tennis tournaments, Formula 1 rally, horse racing, yacht racing and other events.

Melbourne often gets in top 10 of the safest cities in the world.

9. Rotterdam

Rotterdam is the Dutch heart of machine engineering. Here home prices grew by 13.5%.

Rotterdam has the biggest port in Europe. Besides, it is a largest transport node where a sea port (in the North Sea), a river port (on the Nieuwe-Maas river), and an airport, as well as railways and motorways.

8. Hobart

Hobart is another Australian city in the rating. Here, home prices increased by 13.8%. Hobart is the capital, financial and administrative center of Tasmania. It is also the start point for expeditions to Antarctica and the berthing place for numerous cruise liners. Hobart is rapidly developing as a tourist center.

The food industry is the key segment of the local economy. Besides, shipbuilding and auxiliary industries are also quite active.

7. Amsterdam

Amsterdam is the capital of the Netherlands where headquarters of 7 out of 500 biggest global corporations are located (Philips, ING Groep, and other). Besides, the central office of Greenpeace and the world's oldest stock exchange are situated here. Home prices in Amsterdam advanced by 13.8%.

6. Hong Kong

The economy of Hong Kong is based on the free market principles, low taxation, and non-intervention policies. However, Hong Kong is not an offshore zone, but a free port.

The city attracts businesspeople, as the value-added tax and customs fees are not charged here. Excise duties are levied only on four categories of goods regardless of whether they are imported or domestic.

Home prices in Hong Kong rose by 15.1%.

5. Budapest

Home prices in the Hungarian capital advanced by 15.3%. This is the biggest city of the country and the only European capital that is famous as a resort with thermal springs.

4. Toronto

Toronto is the biggest city of Canada and the administrative center of Ontario. Here home prices grew at much faster pace than in Budapest – by 18%.

Toronto is a part of the Golden Horseshoe, a region lying at the western end of Lake Ontario. About 7 million people live here. About the sixth part of all jobs in Canada is concentrated in Toronto.

Toronto is not only an important city for Canada, but also one of the leading metropolises in the world.

3. Hamilton

Hamilton is the Canadian city, located in the province of Ontario. Hamilton is divided into two parts: the lower city - downtown and the west and east neighborhoods; and the upper city which is on a hill.

The home prices in Hamilton increased by 19.5%.

2. Izmir

The home prices growth in Turkish Izmir (19.8%) outpaced the growth in Hamilton by 0.3%. It is the second largest port of the country after Istanbul. Besides, it is one of the most popular resorts in Turkey.

1. Reykjavik

The world's northernmost capital is ranked first in the list of the cities with the fastest pace of home price growth. Here prices advanced by 21.3%. The capital of Iceland has no industrial factories. There are only clean air and several dozen of thermal pools. The city has an air service with Europe, thanks to which millions of tourists visit Reykjavik every year.