10 hottest housing markets

Five years on from the crash, property prices have hit new highs. Where are home values rising fastest?

3.  Hong Kong

global home prices
  • Rise in house prices (1 year): 16.1%

Policymakers have also tried to take the heat out of Hong Kong's property market. Strong credit growth in China and ultra-loose monetary policy in the United States have helped fuel the boom.

Related: Farming for fish in Hong Kong's high-rises

Offshore investors -- along with market speculators -- have been big buyers of real estate in the land-strapped territory.

Source: Knight Frank Global House Price Index
Provisional data.
  @vharrisoncnn - Last updated December 13 2013 12:12 PM ET