Knight Frank’s global property statistics for 2015

Global cities of desire

Many of us think that we suffer the highest property prices and ridiculous rises, but we are not alone. Knight Frank’s Prime Global Cities Index shows that three cities recorded double-digit annual price increases; Vancouver, Sydney and Shanghai and around 73% of cities recorded positive annual price growth in the year to September. Kate Everett-Allen (left), Partner, International Residential Research, Knight Frank, says, “As we enter a new era of rising interest rates, greater regulation and potentially lower returns, it will be interesting to see which cities’ prime residential markets will outperform. Events in the world’s two largest economies look set to dominate the proceedings in 2016. The scale of the slowdown in China and the recent US interest rate rise will determine the performance of property markets across developed and emerging markets alike over the next 12 – 18 months. “If we are to pick one prime market which we predict will outperform the world’s top tier of global cities, it is Sydney. Nonetheless, even here the pace of luxury price growth is expected to slow from 15% year-on-year in 2015 to 10% in 2016. Australia’s economic slowdown, weaker stock market performance in recent months and the introduction of…

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