Safe as houses?

Here's an interesting table of property prices around the world, from the Global Property Guide. Click on the image to see it full size.

Look to the middle column for the most recent year-on-year changes. The chill wind of a cooling housing market is blowing around the world. At the bottom of the pile we have Latvia (Riga), which is down a whopping 33%. The US is down 19% and Ireland, which is officially in recession, is down 14%.

Time to learn Chinese (+27%) , me thinks.