Prime Property (PIRI)

Featuring more locations than ever before, The Wealth Report’s Prime International Residential Index (PIRI) is the ultimate guide to the world’s luxury home markets. Here we analyse the latest trends

Prime Residential Property in 2013 by World Region and for selected cities

Jakarta

 Average price change of prime
residential property in 2013
Jakarta 37.7%
 

Auckland

 Average price change of prime
residential property in 2013
Auckland 28.8%
 

Christchurch

 Average price change of prime
residential property in 2013
Christchurch 21.4%
 

Dublin

 Average price change of prime
residential property in 2013
Dublin 17.5%
 

Beijing

 Average price change of prime
residential property in 2013
Beijing 17.1%
 

Dubai

 Average price change of prime
residential property in 2013
Dubai 17.0%
 

Abu Dhabi

 Average price change of prime
residential property in 2013
Abu Dhabi 15.0%
 

Guangzhou

 Average price change of prime
residential property in 2013
Guangzhou 14.2%
 

Los Angeles

 Average price change of prime
residential property in 2013
Los Angeles 14.0%
 

Doha

 Average price change of prime
residential property in 2013
Doha 13.7%
 

Tokyo

 Average price change of prime
residential property in 2013
Tokyo 13.0%
 

Tel Aviv

 Average price change of prime
residential property in 2013
Tel Aviv 12.7%
 

Tel Aviv

 Average price change of prime
residential property in 2013
Tel Aviv 12.7%
 

Sao Paulo

 Average price change of prime
residential property in 2013
Sao Paulo 12.6%
 

Bangkok

 Average price change of prime
residential property in 2013
Bangkok 12.3%
 

New York

 Average price change of prime
residential property in 2013
New York 10.4%
 

San Francisco

 Average price change of prime
residential property in 2013
San Francisco 10.4%
 

Munich

 Average price change of prime
residential property in 2013
Munich 10.0%
 

Sydney

 Average price change of prime
residential property in 2013
Sydney 9.3%
 

London

 Average price change of prime
residential property in 2013
London 7.5%
 

Shanghai

 Average price change of prime
residential property in 2013
Shanghai 7.3%
 

Monaco

 Average price change of prime
residential property in 2013
Monaco 6.0%
 

Vienna

 Average price change of prime
residential property in 2013
Vienna 5.5%
 

Vancouver

 Average price change of prime
residential property in 2013
Vancouver 5.3%
 

Kuala Lumpur

 Average price change of prime
residential property in 2013
Kuala Lumpur 5.0%
 

Madrid

 Average price change of prime
residential property in 2013
Madrid 5.0%
 

Nairobi

 Average price change of prime
residential property in 2013
Nairobi 4.9%
 

Miami

 Average price change of prime
residential property in 2013
Miami 4.3%
 

Oslo

 Average price change of prime
residential property in 2013
Oslo 4.3%
 

Edinburgh

 Average price change of prime
residential property in 2013
Edinburgh 3.4%
 

Istanbul

 Average price change of prime
residential property in 2013
Istanbul 3.0%
 

Venice

 Average price change of prime
residential property in 2013
Venice 3.0%
 

Mumbai

 Average price change of prime
residential property in 2013
Mumbai 3.0%
 

Washington DC

 Average price change of prime
residential property in 2013
Washington DC 2.8%
 

Amsterdam

 Average price change of prime
residential property in 2013
Amsterdam 2.5%
 

Moscow

 Average price change of prime
residential property in 2013
Moscow 2.1%
 

St Petersburg

 Average price change of prime
residential property in 2013
St Petersburg 0.6%
 

Cape Town

 Average price change of prime
residential property in 2013
Cape Town 0.2%
 

Beirut

 Average price change of prime
residential property in 2013
Beirut 0.0%
 

Rome

 Average price change of prime
residential property in 2013
Rome 0.0%
 

Singapore

 Average price change of prime
residential property in 2013
Singapore -0.8%
 

Toronto

 Average price change of prime
residential property in 2013
Toronto -1.0%
 

Zurich

 Average price change of prime
residential property in 2013
Zurich -2.0%
 

Hong Kong

 Average price change of prime
residential property in 2013
Hong Kong -2.2%
 

Brussels

 Average price change of prime
residential property in 2013
Brussels -3.0%
 

Paris

 Average price change of prime
residential property in 2013
Paris -4.0%
 

Barcelona

 Average price change of prime
residential property in 2013
Barcelona -4.5%
 

Geneva

 Average price change of prime
residential property in 2013
Geneva -8.0%
 

Asia

 Average price change of prime
residential property in 2013
Bangkok 12.3%
Beijing 17.1%
Guangzhou 14.2%
Hong Kong -2.2%
Jakarta 37.7%
Kuala Lumpur 5.0%
Moscow 2.1%
Mumbai 3.0%
Shanghai 7.3%
Singapore -0.8%
St Petersburg 0.6%
Tokyo 13.0%
 

America

 Average price change of prime
residential property in 2013
Los Angeles 14.0%
New York 10.4%
Miami 4.3%
San Francisco 10.4%
Toronto -1.0%
Vancouver 5.3%
Washington DC 2.8%
 

South

 Average price change of prime
residential property in 2013
Sao Paulo 12.6%
 

Europe

 Average price change of prime
residential property in 2013
Amsterdam 2.5%
Barcelona -4.5%
Brussels -3.0%
Dublin 17.5%
Edinburgh 3.4%
Geneva -8.0%
Istanbul 3.0%
London 7.5%
Madrid 5.0%
Monaco 6.0%
Munich 10.0%
Oslo 4.3%
Paris -4.0%
Rome 0.0%
Venice 3.0%
Vienna 5.5%
Zurich -2.0%
 

East

 Average price change of prime
residential property in 2013
Abu Dhabi 15.0%
Beirut 0.0%
Doha 13.7%
Dubai 17.0%
Tel Aviv 12.7%
 

Africa

 Average price change of prime
residential property in 2013
Cape Town 0.2%
Nairobi 4.9%
 

Australia

 Average price change of prime
residential property in 2013
Auckland 28.8%
Christchurch 21.4%
Sydney 9.3%
 

The Performance of Luxury Property Markets around the World

Knight Frank’s unique Prime International Residential Index (PIRI) lies at the heart of The Wealth Report and this year’s instalment includes performance data for almost 100 of the world’s key luxury residential housing markets.

The full data set is available by downloading The Wealth Report 2014, but some of the highlights are covered below.

One of the most significant changes from a year ago is the general trend towards increasing prices. In 2013, values fell in 39% of the locations featured, compared with almost 50% in 2012. Last year there was double-digit growth in 20% of markets. In 2012 this level of price rise occurred in just 15%.

Cities in Asia-Pacific have, by and large, performed particularly strongly, although government cooling measures have pulled back growth in Singapore and Hong Kong.

Another trend is the strong rebound of some of the markets like, Dubai (+17%), Madrid (+5%) and Dublin (+17.5%), that were hit hard by the global financial crisis.

Top 10 fastest growing luxury residential property markets in PIRI

RankCity2013 Price Growth
1 Jakarta 38%
2 Auckland 29%
3 Bali 22%
4 Christchurch 21%
5 Dublin 18%
6 Beijing 17%
7 Dubai 17%
8 Abu Dhabi 15%
9 Guangzhou 14%
10 Los Angeles 14%

Top 10 most expensive property markets in PIRI

RankCitySq meters US$1m will buy
1 Monaco 15
2 Hong Kong 21
3 London 25
4 Singapore 33
5 Geneva 35
6 New York 40
7 Sydney 41
8 Paris 42
9 Moscow 43
10 Shanghai 46

For more analysis and data download the full report

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MY IDEAL SECOND HOME LOCATION IS…
"A ramshackle low-key house on a surfing beach with an outdoor fire pit"
DR PIPPA MALMGREN

MY IDEAL SECOND HOME LOCATION IS…
"London, because it continues to be a centre for global investment"
MARK O’DONNELL

MY IDEAL SECOND HOME LOCATION IS…
"Anywhere that overlooks water"
KAMAL RAHMAN

MY IDEAL SECOND HOME LOCATION IS…
"London, because the business and leisure opportunities are unmatched"
ABHISHEK LODHA

MY IDEAL SECOND HOME LOCATION IS…
"Anywhere but Hong Kong, where I live"
LAWRENCE WONG

MY IDEAL SECOND HOME LOCATION IS…
"Dubai, because a main part of my business is there"
TAN SRI A K NATHAN

% change by type of property in 2013.

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