San Francisco and New York Miss the Top 10 on Knight Frank’s Luxury Index

According to Knight Frank’s recent Prime Global Cities Index, luxury real estate prices rose 4.2 percent in the past 12 months. The global consultancy firm’s index tracks the price changes in 41 cities across the globe.

Study Findings

  • Guangzhou had the largest price increase; while China’s other first tier cities experienced a price slowdown
  • Five of the top 10 annual rankings are cities in the Asia Pacific region
  • Paris, Berlin and Madrid lead the way for European cities
  • Toronto’s annual prime price growth decreased by nearly 50 percent between June and September 2017
Rank City 12-month % change
(Sep 16-Sep 17)
1 Guangzhou 36.3%
2 Shanghai 14.9%
3 Cape Town 14.5%
4 Madrid 11.9%
5 Toronto 11.5%
6 Paris 11.3%
7 Seoul 11.2%
8 Sydney 11.0%
9 Melbourne 10.4%
10 Berlin 7.3%

As previously mentioned, top Chinese cities like Shanghai and Beijing experienced a significant annual price growth decline in the last quarter, and Guangzhou’s own index increased a mere 6.8 percent in the past three months compared with 36.3 percent in the past 12 months.

San Francisco leads American cities in the 13th spot with a 5.5 percent increase since September 2016; it is followed by Los Angeles in the 16th spot with a 4.4 percent increase and Miami in the 20th spot with a 2.6 percent increase. New York registered at spot 21 with an annual price index of 2.3 percent.

NAWRB

Become a member of NAWRB today! LEARN MORE

Leave a Reply

Your email address will not be published. Required fields are marked *