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The value of luxury residential property around the world rose by just over 2% on average in 2014, according to the Knight Frank’s Prime International Residential Index (PIRI) rankings that released by Knight Frank Wealth Report.

With reversals in markets as far apart as Asia, the Middle East and Europe, growth was lower than the 2.8%
seen in 2013.The US dominates the top of PIRI table, taking four out of the top 10 positions, with New York (+18.8%) and Aspen (+16%) in first and second place respectively.

The disparity with Europe’s cities is stark.Luxury prices rose by almost 13% on average across US cities last year, compared with an average of only 2.5% in Europe.

The latest results of Kninht Frank’s Prime International Residential Index, which marks the change in price of prime residential property in 10 cities and second-home locations

Location World  Region            Annual % change
1 – New York ,North America             18.8%
2 – Aspen,North America                    16.0%
3-  Bali ,Asia                                           15.0%
4-  Istanbul,Middle East                      15.0%
5 – Abu Dhabi,Middle East                  14.7%
6 – San Francisco,North America       14.3%
7 – Dublin, Europe                                 13.4%
8- Cape Town, Africa                             13.2%
9 – Muscat, Middle East                        13.2%
10- Los Angeles, North America         13.0%