The following bar graph presents a comparison between average house prices from 1990 to 2002 and average house prices in 1989 in five coutries. The prices rate was compared in New York. Tokyo, London, Madrid, and Frankfurt city in different periods of time.
Overall, from 1990-1995, the precentage of main prices in London had the highest decline, while in the last 6 years, London achieved the most significant increase in prices. Although Madrid and Frankfurt had a positive change of the house prices compared with average prices in 1989, all cities had the same development, except Tokyo from 1996 to 2002.
Initially, New York and London had a sharp increase to reach around 5% and 12%, respectively in the period 1996-2002. Despite the positive development of house costs in Frankfurt, it decreased from 3% to 1% in the other half of a decade.
However, there was a slight increase of average costs in Madrid to reach 4% from 1996 to 2002 compared with the average costs in 1989. The prices in Tokyo had a negative development, as it scored -7%. Nevertheless, the average costs increased by 2% to be -5% in Tokyo between 1996 and 2002.