2024-03-20-莱坊-Prime_Global_Cities_Index_Q4_2023_2页_125kb

Knight Frank Prime Global Cities Index Q4 2023 Summary

The Knight Frank Prime Global Cities Index tracks nominal prime residential prices across 45 cities worldwide, and for the fourth quarter of 2023, it showed an average annual increase of 3.7%. This growth was the strongest recorded since Q3 2022 and represented an improvement over the previous quarter, indicating a recovery despite global economic uncertainties, including interest rate hikes.

Key trends include a 3.7% annual growth, with most cities seeing price increases over the past year, though volatility persists in some areas due to supply-demand imbalances and policy changes. Luxury housing markets experienced three consecutive quarters of growth, driven by supply increases, while factors like low supply in key cities (e.g., New York) sustained high prices.

Top performing cities by annual price growth:

• Manila: +26.3%
• Dubai: +15.1%
• Mumbai: +10.0%
• Los Angeles: +8.2%
• Vancouver: +7.2%
• Christchurch, Wellington, and Auckland (New Zealand): All exceeded 5% growth.
• Seoul: +6.2%

Cities with declines:

• New York: -3.3% annual change
• Hong Kong: -2.1%
• London: -2.1%
• Toronto: -1.0%

The outlook for 2024 is positive, with expectations of interest rate cuts stimulating demand and supporting price appreciation. Factors like high net migration and unchanged supply levels are expected to drive continued growth in major cities.

This summary highlights the index's performance, key influencing factors, city-specific trends, and future prospects.