【World Property Journal】Prime Global Home Price Index Jumps 8 Percent Annually in Q2

International property consultant Knight Frank says that until now, the pandemic-fuelled house prime boom was most evident in the mainstream market, but the world's prime luxury sector has now surged ahead.

Prime residential prices across 46 cities increased at an average rate of 8.2% in the year to June 2021, up from 4.6% in March.

By comparison, mainstream prices across 150 cities increased by 7.3% on average in the year to Q1 2021.

Toronto leads this quarter's results recording annual prime price growth of 27%, driven by strong buyer appetite and low inventory levels. Despite a recent raft of cooling measures, the next three rankings are occupied by key Asian cities - Shanghai (21%), Guangzhou (20%) and Seoul (20%). Miami (19%) completes the top five this quarter.
 

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