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The leading cities in price increasing of elite real estate

kf The international consulting company Knight Frank presented results of an index of the world markets of elite real estate (Prime Global Cities Index) for the III quarter 2015. The index traces dynamics of the prices in the markets of elite housing of 34 cities of the world.

Vancouver is at the first place. The price growth from September to September made 20,4%. Vancouver already second quarter holds the leadership in price increasing. Against decrease in volume of the offer – for 32% in comparison with last year – demand from local and foreign buyers grows.

The Australian city of Sydney was at the second place. Here, increase in prices in annual calculation made 13,7%. Among the reasons of increase in prices for elite housing of Sydney: weak Australian dollar, low speed of construction of new objects and strength of local economy.

And at last Shanghai where increase in prices made 10,7% is on the third place. Demand for elite housing grows in Shanghai against cancellation of policy of the authorities on protection of the local market of real estate against an overheat and introduction of new fiscal measures, including growth of taxes and decrease in interest rates.

In Jakarta and Melbourne in annual calculation identical increase in prices – 9,4%.

Among the cities of the former Soviet Union countries Moscow took the 32nd place. In the capital of Russia the falling of the prices is 3,8%. The average price of elite apartments in Moscow made 14250 dollars (944 000 ruble) for sq.m.

Among regions Australia is leading (11,6%). North America is in the second place - 8,5%. Europe with an indicator of 0,8% today "is in the positive territory", but price dynamics remains multidirectional depending on a location.

While the US dollar grows elite real estate will remain in sight of investors. Fears are caused today not by a situation in Greece and Eurozone, but in delay of growth rates of economy of China. Nevertheless the Chinese investors will continue to invest money in the foreign markets of real estate of Great Britain, the USA, Canada and Australia so far, writes www.knightfrank.ru.

About situation in Azerbaijan, we will note that in a housing estate of a premium class of "Renessans Palace" which construction is carried out by one of the leading representatives of construction and developer activity of the region - "AS Group Investment" Group of Companies, the prices remain without changes since November of last year.

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