If property markets competed globally and it were an Olympic sport – who would be the winners, losers and ones to watch?

It’s not quite a spectator sport, but  the Knight Frank Global House Price Index makes for an entertaining read nevertheless. The latest figures have been published and the results are in for the first quarter of this year.

Ireland would retire due to injury. At an annual drop of 11.9% and ranking 48^th its sorry economic state is cemented with devalued properties lying empty all around the country.

Bringing up the rear, in a surprisingly solid performance would be Dubai which, in the past six months has finally showed a positive rise in prices by 2.1%.

But can the UK, which is placed at a middling 29^th with an increase of 1% after a year of decline, regain its position at the front of the pack?

For the moment, Asia will take gold, silver and bronze; Hong Kong, India and Taiwan dominate the top of the rankings this quarter although Hong Kong’s out-of-control inflation (which the government is trying to cool), has risen recently to 24.2%, which could have serious consequences in a year’s time, and cause them to drop to a level pegging with Europe.

On Asia’s heels, the wild cards for overtaking Asia  (and a safe bet for buying property in), are Israel and France. According to Knight Frank, Israel has been steadily in the top ten for the past two years and has a far more stable and controlled inflation rate than Asia. France has leaped from 30^th to 6^th place with an 8.6% rise since 2010. Knight Frank believes that the country’s greater productivity has impacted on wages, consumer spending and property demand.

So can the underdogs overtake Asia in a year’s time? Only time will tell; on your marks, set, go.

Waiting to sell (LtoR): Sophie and Rupert Scott with children Charlie, Ediir and Lulu outside their Cote d'Azur home.

If you have seen this summer’s blockbuster Inception then the haunting refrain of French cabaret singer Edith Piaf’s 1960 hit Non, Je Ne Regrette Rien will be familiar – it features several times in the film and was a ‘prime source’ of inspiration for the film’s composer, Hans Zimmer.

But an English family living on France’s Cote d’Azur are hoping this higher profile for Piaf – who died in 1960 – will help them sell their luxurious home. The property, which has four-bedrooms, three guest suites, a two-bedroom cottage, swimming pool and tennis courts, is the former and final home of the gifted but tragic singer.

Although this traditional, stone-built ‘bastide’ may have once echoed to the distinctive timbre of Piaf’s voice and despite owners Rupert and Sophie Scott reducing its price by €250,000 – Les Parretts has yet to find a buyer.

Piaf – real name Edith Gassion – owned the property for several decades until her death in 1963 from liver cancer. But for the Scotts it has been a shorter Vie en Rose in the hills overlooking Nice.

The couple, who’ve lived in the South of France for six years and have three children, are hoping to move back to Britain before the oldest starts at Millfield School in September.

During their tenure the family have been busy. As well as upgrading and redesigning the garden Rupert and Sophie have revamped the roof, eradicated damp throughout and re-arranged the oldest, central part of the property to include a farmhouse-style kitchen, sitting room and study.

But despite all this, their stunningly beautiful home remains unsold and the Scotts recently reduced their asking price to €8.5 million to reflect a local market that, local agents say, is quiet at the moment.

If you are interested in buying the property then contact agent  Savills or telephone 020 7016 3740.

Most of us want to be happy in our work and life, so I was interested to see that Rough Guides have a new book out called the Rough Guide to Happiness. Last week in The Times the author, Dr Nick Baylis, rounded up 10 of the happiest places to holiday and find contentment, both in the UK and abroad.

It would be fair to say that if you’re looking to buy a holiday home abroad for relaxed, inspiring and happy weekends and holidays, then some of his recommendations could be worth a shot, even though happiness is partly dependent on what you make of it. So based on this, here’s a look at three varied international destinations that could, in their own way, provide happiness and contented times.

Norway

Norway is one of the world’s most stunning countries and is perfect if your ideal holiday getaway features fresh air, mountains, glaciers, skiing, nature and fjords. Western Norway boasts several world famous fjords, including the Geirangerfjord and the Nærøyfjord, which are both on the UNESCO World Heritage list.

In the Arctic Circle area, the sun doesn’t set during the summer months, producing the famous midnight sun, and in the winter months there’s the magical northern lights phenomenon to see – if you’re lucky. If you simply want to relax, unwind and breathe in the pure air, or get out and about, actively exploring or skiing, Norway offers plenty of options to keep you happy.

New York

It’s a stark contrast to Norway and features less of the natural phenomenon, but if your idea of happiness is to be in a city that’s alive day and night, then New York could fit the bill. Buzzing with nightlife, culture, shops galore, a global array of restaurants and, of course, good old Broadway, you can’t fail to be bored in this city.

Whether you want a to live like a native New Yorker for a while, or follow the tourist trails, then owning your own property in the city or suburbs allows you the freedom to visit without the expense of shelling out for hotels or other accommodation.

Toulouse

The capital of the Midi-Pyrenees region is located in the heart of Southern France, about halfway between the Atlantic Ocean and Mediterranean Sea. Nicknamed the ‘La ville rose’ (rose red city), due to its distinctive buildings made from red bricks, the city is ideal for those seeking a European holiday home base that’s not too far from the UK, but far enough to feel like you’re on holiday.

This modern city has retained plenty of its historical charm, which is seen in its many architecturally impressive buildings, and has a wide cultural appeal. You could unwind in one of the many quaint cafes, explore the regular outdoor markets or take a tour of its historic buildings.

Do you have memories of your happiest ever holiday? And where would your happiest place for a holiday home be?