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NAR News (National Association of Realtors / 전미 부동산 중개인 협회)

(마이애미) 4 U.S. cities tops for luxury home price increases – Florida Realtor News (마이애미)


LONDON, U.K. – Nov. 11, 2014 – The value of luxury property in 33 of the world’s top cities grew 4 percent year-to-year in September, and 0.2 percent quarter-to-quarter – its weakest result in two years, says Knight Frank, though the U.S. outperformed Europe. A year earlier, luxury home prices had grown 6.6 percent.

The Prime Global Cities Index from Knight Frank tracks luxury residential prices across 33 cities. It rose just 0.2 percent in third quarter 2014, its weakest performance in two years.

According to Knight Frank, one Florida city, Miami, ranked seventh worldwide for its increase in luxury home prices. In the U.S., three other cities – Los Angeles (No. 2), San Francisco (No. 5) and New York (No. 11) also ranked high in the 33 markets studied.

In Miami, luxury home prices rose 16.3 percent year-to-year in September, though they fell 3.6 percent over six months and were down 4.1 percent year-to-year.

Jakarta, Indonesia, still tops the rankings, with prices rising 27 percent year-to-year, but that’s unlikely to last. In the first six months of 2014, Jakarta values increased just 2.5 percent.

Los Angeles ranked second with a 16.3 percent annual rise, and Tel Aviv, Israel, third at 14.0 percent, though both are calculated using second quarter figures.

Looking at the recent results, Kate Everett-Allen, partner in residential research for Knight Frank, says different cities are emerging in the luxury home market.

“Although Jakarta tops the rankings, with prices rising 27 percent in the year to June (for the latest data), the city has seen a sharp deceleration in prices with prices rising by only 2.5 percent in the first half of the year,” she says. “In Dubai, the rate of luxury price growth has declined. This is in part due to temporary factors such as Ramadan, which led to weaker buyer activity, but also due to the UAE Central Bank’s mortgage cap, which is stricter for those purchasing properties above AED5million.

“Analyzing the data on a quarterly basis, Tokyo and Cape Town were the strongest performers with prices ending the three month period 9.2 percent and 6.3 percent higher respectively,” says Ms. Everett-Allen.

The moderate price growth is partly attributable to much of the world having summer holidays, which usually slows sales and price increases.

However, prime city luxury property prices continue to outperform mainstream homes.

The average price of a luxury home is 36 percent higher than the index’s lowest point in the second quarter of 2009, but the average price of a mainstream property rose just 14 percent over the same period.

The prospect of negative European economic news, tightening monetary policy in the U.S., the Scottish referendum and approaching general election and ‘mansion tax’ debate in the UK, and the persistence of cooling measures in key Asian cities have also had an effect, Knight Frank analysts say.

On average, luxury prices rose by 10.5 percent on average across North American cities annually compared with only 1 percent in European cities.

For the first time, Seoul in South Korea joins the index. Since reaching a low in 2013, luxury residential prices are continuing to recover, rising by 4.1 percent in the year to September.

© 2014 NNA LEBANON Provided by SyndiGate Media Inc.


About jennyformiamihome

성심껏 도와드리겠습니다. 연락주시면 바로 상세히 답변드립니다. Jenny Shin / 신정미 부동산 (Broker's Real Estate) 남부 플로리다 마이애미 지역 한인 부동산 주택매매 렌트 싱글하우스 타운하우스 콘도 브라워드 카운티 마이애미 데이드 카운티 포트로더데일 웨스턴 코랄스프링 도랄 Rent or Buy single house, town house and Condo Miami Dade County / Broward County, fort lauderdale, coral springs, copper city, weston, doral 1398 SW 160TH AVE. SUITE 105 Weston, FL. 33326 Direct : 954-551-0236 Office : 954-384-1616 Fax : 954-697-0447 E-mail :


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Jenny Shin / 신정미 부동산
(Broker's Real Estate)
1398 SW 160TH AVE. SUITE 105
Weston FL 33326
Direct : 954-551-0236
Office : 954-384-1616
Fax : 954-697-0447
E-mail :


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