International Property Consultancy Firm, Knight Frank's Prime Global Cities Index - Q1 2021 Report
International Property Consultancy Firm, Knight Frank’s Prime Global Cities Index – Q1 2021 report has been released for 46 Cities on 06 May 2021. Knight Frank’s Prime Global Cities Index tracks the performance on quarterly basis.
The Prime Global Cities Index is a valuation-based index tracking the movement in prime residential prices in local currency across 45+ cities worldwide using data from our global research network.
Some key Points of Prime Global Cities Index-Q1 2021 Report:
- Eleven cities registered double-digit priced growth up from just one a year ago.
- Three Chinese cities – Shenzhen (+19%), Shanghai (+16%) and Guangzhou (+16%) – topped the index this quarter.
- Shenzhen recorded the strongest performing world region with a growth of 18.9%.
- New York recorded the weakest performing market with negative 5.8% growth.
- Some of the world’s top metropolises, New York (-6%), Dubai (-4%), London (-4%), Paris (-4%) and Hong Kong (-3%) are seeing prices soften.
About Indian Cities:
- According to the report, Bengaluru has slipped four places to the 40th position. The prices of Bengaluru’s prime residential property have decreased by 2.7% on an annual basis.
- On the other hand, New Delhi and Mumbai are ranked 32nd and 36th respectively, both cities has moved one spot down. Earlier, in the report of December 2020, New Delhi and Mumbai ranked at 31st and 35th, respectively.
Knight Frank's Prime Global Cities Index - Q1 2021 Rankings (Ranked by annual % change):
Top Five Cities:
- Rank 1 – Shenzhen (18.9%)
- Rank 2- Shanghai (16.3%)
- Rank 3- Guangzhou (16.2%)
- Rank 4- Vancouver (15.2%)
- Rank 5- Seoul (14.8%)
Bottom Five Cities:
- Rank 42- Hong Kong (-3.1%)
- Rank 43- London (-3.5%)
- Rank 44 – Dubai (-3.6%)
- Rank 45- Paris (-3.7%)
- Rank 46- New York (-5.8%)
Indian Cities:
- Rank 32- Delhi (-0.2%)
- Rank 36- Mumbai (-1.5%)
- Rank 40- Bengaluru (-2.7%)
Other Cities:
- Rank 7- Los Angeles (12.6%)
- Rank 8- Moscow (12.4%)
- Rank 15- San Francisco (7. 5 %)
- Rank 23- Singapore (2.5%)
- Rank 25- Sydney (1.9%)
- Rank 38- Bangkok (-2.4%)
About Knight Frank:
Knight Frank was founded in 1896. Its headquarter is in London, UK. Knight Frank is one of the world’s leading independent real estate consultancies.