The bar chart illustrates a comparative study of average house prices in five different big cities of the world from 1990 to 2002, with the price in 1989 as a baseline.
Overall, house rent declined significantly from 1990 to 1995 in three out of the five big cities compared to 1989, while it rose dramatically in the next seven years, from 1996 to 2002.
Looking at the data in more detail, it is clear that residents of New York saw a fall of about 5% in house prices between 1990 and 1995 compared to 1989, whereas Tokyo and London were at the same level of almost -7% in that period. However, in the next seven years, house prices in New York and London climbed sharply, reaching just +5% and about +12%, respectively.
On the other hand, people of Madrid had to spend more money on housing after 1989, and this trend was upward from 1990-1995 to 1996-2002. In contrast, house rent in Frankfurt saw a minor fluctuation over the period, with +3% in the first six years and -1% in the next time frame.