Israel has been rated as the 5th most expensive country for the price of property. A survey of the Global Property guide reported a huge 12.% increase in prices in Israel in the last year alone. 19 of the 36 countries surveyed have seen prices rise in the last 12 months. The highest hike in prices was in Hong Kong where prices rose a huge 27.15%. The increase in property prices in Israel included a 2.12% increase in the frst quarter of 2010. The news is good for Israel as the property market is in good health following the global financial crises. Countries whose property markets have failed to pick up yet include Ireland, Bulgaria and Thailand.