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8. Netherlands

After two years of weakness, during which time some economists were predicting a correction for the Dutch housing sector, prices are back on the move. Statistics Netherlands said last month that prices were on average 1.7 percent higher in August 2014 than in the same period last year.

Analysts say the Netherlands differs from housing markets in Ireland and Spain, where booms were caused by excessively low interest rates. Instead, generous tax relief on mortgages has fueled a prolonged period of strong demand that has pushed house prices higher. Mortgages in the country have included products which require the house buyer to cover interest-only repayments.

Read More Debt-crippled Dutch wake up to housing crash

Merijn van der Vliet | E+ | Getty Images