Prime rents have been rising in main cities around the globe as pandemic restrictions ease.
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Following the lifting of pandemic restrictions and border controls, housing rents gained 10.2% in 10 main cities around the globe within the third quarter of 2022 from a 12 months in the past. That is in accordance with the most recent Knight Frank Prime World Rental Index report.
The Prime World Rental Index, which is launched on a quarterly foundation, tracks luxurious residential rents throughout ten cities utilizing knowledge from Knight Frank’s international analysis community.
Out of the ten cities tracked by the true property consultancy, solely two of them — Hong Kong and Auckland — registered declines in prime rental costs. Monetary hub Hong Kong was affected by pandemic restrictions, whereas provide was robust in Auckland’s luxurious property phase, Knight Frank wrote in its report.
As for the seemingly relentless rise in different cities’ leases, there’s some excellent news. The speed of progress is slowing: The ten.2% lease enhance is decrease than the 11.9% enhance Knight Frank recorded within the second quarter of the 12 months.
Preserve studying for a take a look at the 5 main cities the place prime — or luxurious — leases rose the quickest within the third quarter of 2022. Rounding out the highest 10, however not included in our listing, are Geneva, Monaco, Tokyo, Auckland, and Hong Kong.
