August 15, 2017
According to a Knight Frank, luxury residential real estate prices are on the rise in cities around the globe including Madrid, Berlin, Paris and Dublin. On the other hand, prices in China’s top cities declined. Knight Frank’s 2017 second quarter report tracks 41 cities worldwide.
According to Mansion Global, ‘The Knight Frank Prime Global Cities Index, which tracks luxury residential markets’”defined as the top 5% the housing market in each city’”rose 4.4% year-over-year by the end of June.’
European cities have seen a resurge in luxury residential prices. According to the Knight Frank report, ‘Fears surrounding the upcoming Brexit have, in part, led to a recognition of Europe’s comparatively affordable luxury markets’.
Other key facts:
San Francisco had the highest price growth among the four tracked US cities
Guangzhou leads the ranking with an annual growth of 35.6% in luxury real estate prices
Luxury prices in Hong Kong rose 36.2%
See Global Mansion article
Would you like to discuss South Florida’s luxury real estate market? Contact Nicholas Malinosky and Randy Ely with Douglas Elliman to discuss the current real estate market beach area.
Photo: Mansion Global/Nisa Maier/Getty Images
