Poland topped the table with low property prices and capital growth of 33 per cent, offering a grand total of 165 per cent return on cash invested.
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However investors with property in the US were urged to be cautious as capital growth dropped from 10.1 per cent at the end of 2006 to 7.7 per cent.
Assetz also revealed that France continued to outperform many emerging markets.
Stuart Law, managing director of Assetz, commented: “The global housing market is performing well with positive capital growth in every destination on the Tracker. Bulgaria, South Africa and Spain are likely to face a slowing in the rate of growth during the next few months, but are still a long way off from falls in house values.
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“Poland looks set to lead the pack of emerging markets this year, with strong capital growth and excellent local demand as well as foreign investment. Warsaw’s property prices remain among the lowest in Europe and the introduction of major industry to the city is attracting an increasingly young and wealthy population. I expect to see continued strong growth and a flourishing rental market.”
Roger Morris, managing director of em, said: “The Assetz Tracker shows there are still plenty of opportunities internationally for investors to expand revenue streams.”
