Prime residential prices across the cities on Knight Frank’s latest Prime Global Cities Index rose by 6.2 percent on average in the year to June 2014.
However, Singapore is listed at the bottom of the list of 32 cities as its prime prices dropped 7.7 percent in June 2014 from June 2013.
Along with Singapore, Hong Kong and Geneva are among the worst prime price performance recorded.
Jakarta topped the list with a 27.3 percent increase. However, its rate of growth has slowed in the second quarter.
In Dubai, prime prices rose by 6.3 percent in the year to June, down from 11.7 percent last quarter.
In a statement, Knight Frank said, “The mortgage cap and doubling of transfer fees at the end of 2013 influenced buyer activity more than forecast. New research by Knight Frank revealed 25 to 35 percent of purchases are mortgage financed in the Emirate, more than previously thought.”
The Knight Frank Prime Global Cities Index enables investors and developers to monitor and compare the performance of prime residential prices across key global cities.
Muneerah Bee, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
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