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Knight Frank's report on the state of housing markets worldwide shows exactly how hard Europe is getting pummeled.
South America has seen home prices rise by 9.8 percent, while prices in Asia Pacific have gone up 4.2 percent in the past 12 months. By contrast, home prices in the Eurozone's 17 member states have averaged a 1.8 percent decline over the same time period.
From the report: With the Eurozone now in its second recession in three years buyer confidence is at an all-time low and it is no coincidence that all the bottom 12 rankings are occupied by European countries this quarter.
We've compiled Knight Frank's list of the housing markets experiencing the worst year-over-year declines, listed from smallest to largest decrease in home values.
Source: Business Insider
Dec 10, 2012