Market and
partners news

The rise in prices for luxury housing in the world has reached an average of 8.2% per year – a record since 2008

The rise in prices for luxury housing in the world has reached an average of 8.2% per year – a record since 2008

18 August 2021

Knight Frank has updated the Prime Global Cities Index (PGCI) data for the second quarter of 2021. In 46 cities analyzed, the average price growth rate was 8.2%, which is a record figure since 2008.

At the end of the second quarter of 2021, the top 6 countries in terms of housing price growth looks like this:

• Toronto (+ 27.0%)

• Shanghai (+ 21.4%)

• Guangzhou (+ 19.8%)

• Seoul (+ 19.6%)

• Miami (+ 18.7%)

• Moscow (+ 17.6%)

The increase in housing prices caused by the pandemic is typical for all segments of real estate – on average, in 150 cities, the indicator increased by 7.3% per year. However, in the luxury real estate sector, the dynamics turned out to be the most significant.

Government regulations, interest rate hikes and the removal of stimulus measures are expected to help contain price increases in the second half of 2021. Additional measures to cool the property markets are likely to emerge, as countries are interested in increasing housing affordability.

The current situation is the new realities of the market, which are noted even in the highest segment. A number of properties show super-high growth, while interest in expensive offers remains, including among investors. Purchase of such housing is not only an indicator of status, but also allow to generate revenue. According to Knight Frank forecasts, Moscow will maintain high positions in the rating until the end of the year.

Leave a request and we will find the best home for you and your family

18 August 2021
Macro overview of the current week

Nvidia and AMD shipments will be limited The United States has banned Nvidia ...

Calendar of economic events for the week

Date Time Event Comment 07.09.2022 17-00 МСК Canada Interest Rate Decision Ba...

New offers in Stalin’s houses

A rare offer in the legendary sky-scraper near Zaryadye Park Kotelnicheskaya ...

Calendar of economic events for the week

Date Time Event Comment 31.08.2022 04-30 МСК China Manufacturing Purchasing M...