World’s top ten cities in the value of luxury residential property
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%