Knight Frank looks at the differential between the average prime property price and the top price achieved in ten global cities over the last five years
In Hong Kong
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Hong Kong has tumbled from first to 22nd place in Knight Frank’s global property price growth table, while Central and Eastern European countries are now out-pacing bigger EU nations.
‘Prime residential real estate values are settling into a pattern of slower, steadier price growth,’ says Savills, ‘and we do not expect to see a repeat of the double-digit annual price growth seen pre GFC.’
Monaco, Hong Kong, New York and London are the most expensive cities per square metre in the world, says Knight Frank.
Residential property prices in the world’s top 100 city and second home markets increased by an average of just 1.3% in the last year, according to Knight Frank’s Prime International Residential Index.