According to the latest Prime Global Rental Index released by Knight Frank, prime residential rents around the world rose on average by 2.3% in the second quarter of the year, the strongest rate of growth since 2010. Kate Everett-Allen, Associate Partner, International Residential Research examines the latest index results.
Highlights for Q2 2013:
• The Knight Frank Prime Global Rental Index rose by 2.3% in Q2 2013, the strongest growth rate since 2010.
• Nairobi recorded the largest increase in prime rents, rising by over 24% over the last 12 months.
• The world’s key financial centres of New York and London were the weakest performers, recording annual falls of 2.9% and 3% respectively.
• Hong Kong prime rents increased 1.3% over the last 12 months, ranked 12th on the table.
• Searches for prime rental properties on Knight Frank’s website increased by 12% in the first eight months of 2013 year-on-year.