The bar chart presented compares five cities in terms of variations in accommodation prices in 1990-1995 and 1996-2002, measured in percentage.
Overall, it is evident that in the first phase, there was a downward trajectory in most of the surveyed cities, namely: New York, Tokyo, and London, while the minority experienced a rise. Surprisingly, in phase II, the tendency compared to that of the previous period was in stark contrast as there was an upward trend in the majority, and the unique city – Tokyo which was witnessing a decrease.
A deeper observation reveals that Tokyo and London both reached the nadir at about -7.5%, ranked the least in changes among cities. New York exhibited relatively modest figure with -5%. By contrast, there was a marginal increase at roughly 2% in Madrid and Frankfurt.
Turning to the second timeframe from 1996-2002, it is notable that London registered the most marked alteration, as it jumped powerfully, and ultimately reached the highest point at well over 10%. Furthermore, the house prices in New York preciesly doubled throughout the period, then culminated at 5%, closely followed by Madrid. Despite the recorded increases in mentioned cities, homes in Frankfurt remained slightly cheaper than they were – about 2%. Although the prices in Tokyo still held the lowest position over the rest, but the accommodation worth was improving as it added up to 5%.