The International Monetary Fund (IMF) recently released its Global Housing Price Index. The results showed that housing prices rose by 75% among the countries analyzed.

Luxembourg tops the list of 60 countries analyzed by the IMF where prices to own a house are sky-high and rising constantly. There, house prices have risen 18% in the last year, thus mirroring one of the effects of the Covid-19 pandemic.

After Luxembourg are Turkey, New Zealand and Canada. Overall a house in Europe is 10% more expensive.  

In Portugal housing prices reached a high of 10%. The research indicates that low interest rates have contributed to the housing boom, coupled with supportive government policies and the increased need for people to work from home.

In the United States, online searches for real estate have reached peak levels. The IMF also explains that disruptions in the supply chain have pushed up the costs of several products in the construction sector, consequently contributing to this trend. 

Another fact to consider is the disparity between the upward trend in housing prices and low wages. This makes a house unaffordable for most people globally - it is only affordable for those with money. And the Fund's predictions indicate that the possibility of hybrid labor in a post-pandemic world is also likely to further increase inequality.