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Knight Frank published their quarterly Prime Global Cities Index [1] today and North America led the way as a region with a 14.5% rise in prices. “Prime” translates to “Luxury” in US housingspeak. We provide research for their Manhattan and Miami results through the Elliman Reports [2] we prepare.
The report conclusion succinctly summarizes the state of high end housing today and speaks to the global phenomenon:
…the index’s annual increase of 6.2% in the year to June is above the long-run average of 4.6% recorded since Lehman’s collapse in the third quarter of 2008, underlining the extent to which prime property has become a favoured asset class globally.
Here’s the table…
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[click on table to open report]