Named cities where luxury real estate is getting more expensive the fastest
Knight Frank analysts in the annual report the Wealth Report 2020 calculated in which cities of the world luxury housing is becoming more expensive the fastest.
Consulting company Knight Frank published the Prime International Residential Index, which ranks 100 cities in the world by the growth of prices for luxury real estate. According to the company’s estimates, in 2019, premium housing has risen in price by 2% worldwide.
Frankfurt am main has become the city with the fastest growth in luxury housing prices in 2019. In the business capital of Germany, real estate prices increased by 10.3 %. The second place was taken by the Portuguese city of Lisbon with a rate of 9.6 %. The capital of Taiwan, Taipei, was in third place. The price change occurred in the local currency.
TOP 10 cities for luxury real estate price growth in 2019:
Frankfurt am main-10.3 %
Mexico city-6.6 %
The last places in the rating were occupied by cities where luxury real estate fell in price: Vancouver (-8.3 %), Abu Dhabi (-5.5%), Istanbul (-5%), Doha (-5%), Buenos Aires (-4.5%), Nairobi (-4%), new York (-3.6%) and London (-2.6%).
The most expensive premium-class housing is still in Monaco. For 1 million dollars, you can only buy 16 square meters. m luxury real estate. And in Moscow for the same money-76 sq. m. luxury housing.
How many meters of luxury housing can you buy for $ 1 million in cities around the world?
Monaco — 16.4
Hong Kong — 21.3
Geneva — 37.5
Cape town — 174.3
Sao Paulo — 202.3