2019 Knight Frank Prime Global Forecast releasedKnight Frank's recently released Prime Global Forecast 2019 predicts a convergence of price growth across the world's luxury residential markets. © jakobradlgruber – 123RF.com The proliferation of property market regulations, the rising cost of finance, uncertainty surrounding Brexit and, in some markets, a high volume of new prime supply, is weighing on prime prices. However, key European cities are bucking the trend for lower growth, and are leading the rankings with prices expected to rise by 6% in Madrid, Berlin and Paris over the year. Kate Everett-Allen, partner, international residential research at Knight Frank commented, “Of the 15 cities monitored, the key European cities of Madrid, Berlin and Paris, lead our forecast for 2019 with growth of 6%. Still positive, but marginally down on 2018, the normalisation of monetary policy, weaker economic growth and a fragile political landscape post-Brexit will influence demand, but the relative value of these cities remains a key driver.” Knight Frank’s Prime Price Forecast 2019:Taking account of the latest economic indicators, supply, demand and sales trends, Knight Frank predicts price performance in 15 cities worldwide: Top performers over the last 10 years:
Events to watch in 2019A number of key events in 2019 are likely to impact prime residential markets:
Trends to monitor:
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