2024-01-02-莱坊-Global_Residential_Cities_Index_Q3_2023_2页_105kb

Global Residential Cities Index Q3 2023: Knight Frank's report indicates a recovery in global housing prices, with average annual growth increasing to 2.3% from 1.6% in the previous quarter. Key findings include signs of price relief following interest rate considerations, though affordability remains stretched. Ankara experienced the fastest price growth at 102.7% year-over-year, while Istanbul and other Turkish cities secured top rankings, alongside Dubai in the top three. European markets saw some declines, reflecting affordability challenges exacerbated by higher mortgage costs expected from policy shifts. The future outlook anticipates interest rate decreases potentially easing buyer pressure, but persistent affordability issues due to loan servicing costs and record-high debt costs could continue to strain households. Rankings are based on quarterly and annual percent changes across over 100 cities.

This summary highlights a general trend of price growth alongside affordability concerns and regional variations, with Istanbul showing strong performance and certain European cities experiencing downturns. Key factors influencing the markets include low inventory, wage growth, and elevated savings, while challenges involve constrained new builds and rising borrowing costs, potentially amplified by upcoming interest rate changes in key economies.