According to the latest Prime Global Cities Index released by Knight Frank, during the Q2 of 2013, the average price of luxury homes in the world’s key cities increased by 2.4%, a marked improvement on the 0.4% fall recorded in the first three months of the year.
Highlights for Q2 2013 Prime Global Cities Index:
• Prime property prices increased on average by 2.4% in Q2 of 2013
• Prime prices across the 28 cities tracked by the index increased by 5.6% in the year to June 2013
• Although Europe, with an annual fall of 0.9%, remains the weakest performing region, it is up from -3.4% a year earlier. Madrid was the weakest performing prime residential market in the last 2 months, declining by 11.9%.
• Jakarta recorded the strongest price growth for the third consecutive quarter up by 27.2%. Hong Kong came nineteen, experiencing price growth of only 2.4%.