According to the latest Prime Global Cities Index Q3 2013, prime prices across all 27 cities rose by 6.6% on average in the year to September but by only 1.2% in the last three months.
Highlights for Q3 2013:
• Prime residential prices increased by 1.2% in the third quarter of 2013 on average.
• China is defying expectations with Beijing recording the highest quarterly rise in prime prices, increasing by 7.9%.
• In the last 12 months, Hong Kong average luxury prices remained unchanged.
• In annual terms Jakarta and Dubai recorded the strongest growth, up by 27.2% and by 21.8% respectively.
• The Middle East was the strongest performing region; on average luxury prices have risen by 13.1% in the last 12 months.
• The index now stands 31% above its low in the second quarter of 2009.