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North America tops world prime property price growth

Posted by: In: Real Estate 31 Jul 2014 Comments: 0 Tags: ,
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Prime Global Cities Index table

North American luxury property prices in key cities rose by 14.5% in a year, more than double the 7% in the Middle East, where Dubai values rose just 1% in the three months to June, according to Knight Frank’s latest Prime Global Cities Index

Top prime property prices in key North American cities have grown at least twice as fast as those in other global regions, with New York performing particularly well, new data shows.

In the 12 months to the second quarter 2014, average North American residential real estate values rose 14.5%, ahead of the Middle East at 7% and Asia Pacific at 5.3%. The global average was 6.2%, according to the latest Prime Global Cities Index.

Top of the index is Jakarta, Indonesia, with a 27.3% increase in residential property values during the year to June 2014. Next comes Dublin, Ireland, at 23.5% and New York, USA, at 17.8%, which has risen from 10th place in the previous report.

Two other US cities, Los Angeles at 17.8% and Miami at 17.2% followed close behind, with San Francisco at seventh with a 12.5% rise and Vancouver, Canada, in 11th place at 6.5%.

Singapore came bottom of the quarterly update from leading global agent Knight …read more

Source: OPP

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