![]() ![]() ![]() Mumbai witnessed a prominent upward movement in index from 39th rank in Q3 2021 to 22nd rank in Q3 2022. The report further cited that Dubai recorded the fastest rise in prime prices with 88.8% increase during a 12-month change (Q3 2021- Q3 2022) while Wellington was the weakest performing market with a decline of 18%. Zurich (10.7%), Edinburgh (9.9%), Berlin (9.4%), Dublin (8.6%) and Madrid (5.6%) have all risen up the rankings in the last 12 months despite the drop in sentiment and the slowdown in the Eurozone’s economy. The strong performance of some European cities is likely to reflect seasonal demand over the summer, but also a degree of safe haven capital flight. THE KNIGHT FRANK PRIME GLOBAL CITIES INDEX Q3 2022 Meanwhile, in New York, the rate of annual growth has dipped to 5.2% from 7.1% last quarter, but it remains well above its average rate of growth over the last five years of -1.2%. ![]() In prime central London (2.7%) prices are now rising at their fastest rate since Q1 2015. Those markets that registered some of the strongest price rises during the pandemic are well represented amongst this group: San Francisco, Toronto, Wellington, Stockholm, Vancouver, Los Angeles, Seoul, as well as some Chinese mainland cities. Of the 45 cities tracked, 19 saw prime prices decline between June and September 2022, up from seven in Q1 2022. However, even at 7.5%, annual growth still sits above the index’s average five-year growth rate of 4.4%, and the number of cities registering year-on-year price falls has only shifted from six last quarter to seven this quarter.īut dig deeper and the quarterly data reveals a marked slowdown. The Prime Global Cities Index is a valuation-based index tracking the movement in prime residential prices in local currency across 45+ cities worldwide using Knight Frank’s global research network. CRCS Sahara Refund Portal: Login Link, Claim Process, Who Can Apply? All Details ![]()
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