The world's housing downturn is gathering momentum, according to the latest world-wide survey of house price indices prepared by the Global Property Guide.
During 2011, house prices fell in 22 countries, of the 35 countries for which Q4 house price statistics are available, and rose in only 13 countries.
Similarly, 21 housing markets performed worse during 2011 than last year, while only 14 countries performed better.
So where should Gulf investors place their money in 2012 as they look for a safe haven to invest their profits?
IP Global, a global property investment company with offices in Dubai, has invested nearly a billion dollars of clients money in property markets around the world since 2005 and has compiled a list of the three best places to invest, three cities to watch and three to avoid.