Invezz.com Reports On Knight Frank's Latest Ranking of World's Most Expensive Property Markets
Investment portal iNVEZZ.com has recently reported on the latest annual Wealth Report produced by property consultant Knight Frank, which ranks the world's most expensive prime real estate locations.
Online, March 14, 2013 (Newswire.com) - iNVEZZ.com has recently published an article headlined "Dubai Property Ranked 19th Most Expensive, Monaco Tops List" covering the release of Knight Frank's Wealth Report 2013, which provides a look at prime property and wealth from a global perspective and outlines the performance of the world's key luxury residential markets. The investment portal cited Knight Frank's ranking of the most expensive cities for buying high-end properties.
The iNVEZZ journo covering the news of the recently-released report read: "Knight Frank found that locations in Asia-Pacific tended to be the biggest gainers in terms of property price growth last year, but old favourites such as Monaco, Hong Kong and London continued to perform the best."
Providing further details of the ranking, the iNVEZZ article continued with an overview of the performance of the Dubai property market. The emirate was positioned 19th among the 20 cities in the Knight Frank's ranking with prices of luxury real estate assets ranging between £320 and £360 per square foot in the final quarter of 2012. In terms of price growth, the Dubai property market has made a turnaround from"what was the world's worst performing real estate market four years ago" with luxury property values rising by 20 percent last year. This increase lifted Dubai to the second position on the list of cities where prices rose most in 2012. As the investment portal remarked, the emirate shared its place in the ranking with Bali and followed Jakarta which took the top slot with luxury property prices rising by 38 percent.
The iNVEZZ article concluded with a statement made by Global Head of Residential Research at Knight Frank, Liam Bailey, who outlined the Dubai property market's strong growth since "the epitome of the global downturn between 2008 and 2009."
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