[Knight Frank] Global Reports That Look Forward and Backward : Europe As Denominator
Posted by Jonathan Miller - Thursday, December 13, 2012, 9:35 AM
Where we’ve been
Knight Frank’s Global House Price Index is published quarterly and tracks the performance of mainstream national housing markets around the world. They use Case Shiller results for the US market.
Europe at bottom:
With the Eurozone now in its second recession in three years buyer confidence is at an all-time low and it is no coincidence that all the bottom 12 rankings are occupied by European countries this quarter.
The top performers:
But it’s not all bad news. Six markets recorded double-digit annual price growth in the year to September; Brazil, Hong Kong, Turkey, Russia, Colombia and Austria.
Where we’re going
I help provide their Manhattan and Miami insights and they liked the way I characterize the state of luxury housing as a “safe-haven” and the “new international currency.” Here are the top line observations in their Q4 12 Prime Global Forecast:
• In 2013, we expect prime residential prices across the 14 cities included in our
forecast to rise by 2.5% on average, with Moscow, Miami and Dubai being the
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