Malaysia – Knight Frank, the independent global property consultancy, today launches the Prime Global Cities Index for Q3 2017, which tracks the movement of luxury residential prices across 41 cities around the world using using data compiled by our global research network.
Results for Q3 2017
- Luxury residential prices across 41 cities around the world climbed 4.2% in the year to September 2017
- Guangzhou leads the annual rankings despite the wider slowdown across China’s first tier cities
- Cities in the Asia Pacific region account for five of our top ten annual rankings
- Madrid, Paris and Berlin are outpacing their European counterparts
- Toronto saw its annual prime price growth almost halve between June and September 2017
- Australasia (10.7%) is the strongest performing world region on an average basis, Russia and the CIS is the weakest (-8.4%)
Nicholas Holt, Head of Research for Asia Pacific, says: “Half of the top 10 strongest-performing cities come from Asia-Pacific, and all of them registered at least 10% annual growth in Q3 2017. However, with more cooling measures kicking in across the region, the price growth in some of these cities is showing signs of slowing down.”
Kate Everett-Allen, Partner, International Residential Research, says, “Cities in Asia Pacific account for five of our top ten rankings, with Seoul (11.2%), Sydney (11.0%) and Melbourne (10.4%) joining Guangzhou and Shanghai. Seoul’s rate of annual growth has slowed following a number of policy measures announced this year, including tighter mortgage lending rules and higher capital gains tax for owners of multiple homes.”
To download the report, please visit: http://content.knightfrank.com/research/323/documents/en/prime-global-cities-index-q3-2017-5072.pdf
For further information, please contact:
Mr Nicholas Holt, Asia-Pacific Head of Research
firstname.lastname@example.org +86 10 6113 8030 @nholtKF
Ms Rachel Loke, Asia-Pacific Head of Marketing, Communications & Digital
email@example.com +65 6429 3587 @knightfrank
Ms Seline Soo, Marketing & Communications Manager, Knight Frank Malaysia
firstname.lastname@example.org +603 2289 9669 @KnightFrank_my
Notes to Editors
Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, Knight Frank has more than 15,000 people operating from over 400 offices across 60 countries. These figures include Newmark Knight Frank in the Americas, and Douglas Elliman Fine Homes in the USA. The Group advises clients ranging from individual owners and buyers to major developers, investors and corporate tenants. For further information about the Company, please visit knightfrank.com.
Knight Frank has a strong presence in Malaysia with its headquarters in Kuala Lumpur as well as branches in Penang, Johor and Kota Kinabalu. The company offers high-quality professional advice and solutions across a comprehensive portfolio of property services and is registered with the Board of Valuers, Appraisers and Estate Agents. The Company is licensed to undertake property, valuations / consultancy, estate agency and property management and is also on the panel of all leading banks and financial institutions. For further information about the Company, please visit www.knightfrank.com.my.