![]() ![]() ![]() Nicholas Holt, Asia-Pacific Head of Research, says, “Cities in China and Australia make up five of the top 10 prime markets globally in terms of annual price growth in Q1 2017 – a strong showing for the Asia-Pacific region. This led policymakers to announce a raft of new measures in April including a 15% foreign buyer tax putting the city on equal footing with Vancouver.Įstablished financial centres of the world such as Zurich (-7.0%), London (6.4%), Milan (-0.9%) and Tokyo (1.5%) are seeing slower price growth – on average 3.2% per annum – compared with the emerging tech hubs such as Seoul (17.6%), Stockholm (10.7%), Berlin (8.7%) and Melbourne (8.6%), which saw prices rise by 7.4% on average over the 12-month period. ![]() Toronto – third on the index – ended Q1 2017 with year-on-year prices 22.2% higher, outpacing Vancouver (7.9%) by some margin. In Guangzhou, the availability of residential stock is tighter and cooling measures were implemented more slowly than most tier one cities. Guangzhou rises from a lower base than in Shanghai and Beijing. Guangzhou (36.2%), Beijing (22.9%) and Shanghai (19.8%) are ranked first, second and fourth, respectively on the index. In Q1 2017, the index increased by 4.3%, largely due to China’s cities, which continue to dominate the top tier of the rankings. The index sees new cities, Istanbul and St Petersburg being tracked, bringing the total number of global cities on the index to 41. , Singapore – Knight Frank, the independent global property consultancy, launches the Q1 2017 Prime Global Cities Index, which tracks the performance of luxury residential prices across key global cities on a quarterly basis. ![]()
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