Berlin leading the way on price growth, says Knight Frank
September 19, 2019 - Berlin
In the second quarter of this year, Berlin was the city with the strongest rate of annual house price growth, according to Knight Frank’s latest Prime Global Cities Index.
The Prime Global Cities Index, which tracks the movement in luxury residential prices across 46 cities, rose by 1.4% in the year to June 2019, up slightly from 1.3% in March 2019. However, it was still substantially lower than its four-year average of 3.8%.
Despite Berlin leading the index with the best yearly house price growth, its rate of annual growth fell from 14.1% in March 2019 to 12.7% in June 2019. Frankfurt, by contrast, saw its annual price growth rise from 9.6% to 12.0% over the same period.
Some 35 of the 46 cities (76%) tracked by Knight Frank’s index registered price growth in the year to June 2019. Of the eleven that saw prices drop year-on-year, Istanbul (-9.9%) and Vancouver (-13.6%) were home to the weakest markets.
Within the top ten there are now six European cities, down from seven last quarter as Edinburgh witnessed price growth moderate (4.3%), reducing it to 12th place. Additionally, Madrid and Paris are following similar paths, recording annual growth of 5.2% and 5% respectively.
Via : Property Investor Today
Photo : Koch and Friends
Trends, property market, real estate market, real estate prices