The Knight Frank Global House Price Index showed its first ever quarterly fall, recording a 0.3 per cent drop.
Head of international research at the firm Nicholas Barnes said the survey had shown that "no part of the world" is immune to the effects of the credit crunch.
However, he said, this trend is in many ways a positive one because "it means investors who are in a position to buy, are now sensing that some markets are offering relative value compared to pre-credit crunch conditions".
The comments come as the Organisation for Economic Co-operation and Development (OECD) plans to reveal details of how economies around the world will perform in the next year.
It will reveal its projections for all OECD members and major countries tomorrow, something that may further guide overseas property buyers.
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