Luxury property prices rise in the world: asia runs, europe and russia crumble

Globally, luxury real estate prices rose 4.3% compared to last year. The Prime Global Cities Index 2017 ranking is dominated by China, which gains first place with Guangzhou, the third metropolis of the country, which saw a strong rise in prices by 36.2%. Second place is Beijing, with a 22.9% increase, while Shanghai is fourth behind Toronto, with 19.8% and 22.2% respectively.
The Canadian authorities, unprepared for such a price increase, have decided to react by imposing a 15% tax on the purchase of luxury real estate by foreign investors.
In general, however, it can be said that Asia is driving the rankings, which are well positioned in Hong Kong and Singapore, which are now well recovered after years of insignificant growth.
In Europe, the only city to record a two-digit increase is Stockholm, which is ranked seventh in the global ranking with a 10.7% increase in prices, followed by Berlin with 8.7%.

Due to Brexit's uncertainties, London's ranking in luxury property prices fell 38rd, with -6.4%.
Among the 41 cities considered in the study are only two Italian metropolises: Rome, 28th with zero growth, and Milan, 30th with a 0.9% drop in prices.
The fall in prices also hit the luxury real estate market in Moscow and St. Petersburg, while in the US there was a general but modest rise in prices. Miami is the US city with the largest increase, with 4.1%.
In general, Kate Everett-Allen, author of the report and member of Knight Frank International Research, technology capitals had an average growth of 7.4%, while financial centers did not exceed 3.2%.