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Prime property in Delhi, India has jumped 4.4% this year.
- Global real-estate consultancy Knight Frank released its list of the fastest-growing luxury real-estate markets around the world.
- Topping the list was Moscow, Russia, which saw an 11.1% jump in prime real-estate prices over the past year.
- No US cities appear until much farther down the ranking, which researchers noted might be due to the tense political climate in the country.
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Global real-estate consultancy Knight Frank just released the latest edition of its Prime Global Cities Index, which tracks luxury residential real-estate markets around the world, with data current as of the close of the third quarter of 2019.
Moscow, Russia, takes the top spot as the fastest-growing luxury real-estate market in the world, showing an 11.1% jump in prime property prices over the past year and a 1.3% bump in the past three months alone. Following in second is Frankfurt, Germany, which reported a 10.3% jump in prime prices over the past year, though it had no change within the past three months.
Meanwhile, no city in North America made the top 15 - the highest-ranked North American city is Toronto, Canada, coming in at No. 19 with a 2.2% year-over-year jump in prime prices. The US real-estate market makes its first appearance even further down, with Miami, Florida, ranking at No. 25 on the list, showing a 1.4% jump in prime prices.
Knight Frank reports that prime prices in the United States have slowed over the years, largely due to escalating political tension, such as unsteady US-China trade relations and the upcoming 2020 presidential election. Moscow, the researches note, tops the list because of the completion of numerous high-end luxury residential projects in prime areas.
Keep reading to find out the 15 fastest-growing luxury real estate markets in the world, arranged in order of increasingly large growth.