19 November 2017
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China conquers the list of top cities to purchase a luxury property

02 August 17 - RE+D Magazine
China conquers the list of top cities to purchase a luxury property

COMPANIES

Solum Property Solutions

Consultant - GREECE

ETAD.A.E.

Public entity - GREECE

Savills

Consultant - GREECE

IBI Group

Consultant - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
Guangzhou in China is the most expensive city in the world to buy luxury property, according to Knight Frank's latest prime global cities index which tracks the movement in prime residential prices across 41 cities worldwide.

 

Other Chinese cities in the top five include Beijing and Shanghai. However, the index showed all three Chinese cities that took top spots have recorded a decline in annual growth compared with the rate seen last quarter.

Although prices in prime central London, which ranked 38th on the index, fell 6.3% in the 12 months to the end of June, the quarterly figure of minus 0.3% was the lowest quarterly fall recorded since early 2016.

The ranking showed 28 of the 41 cities recorded flat or rising luxury prices over the 12-month period, a figure that has remain largely static in last two years.

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