Knight Frank's 3Q'11 global prime properties report:
Summary points from Knight Frank's 3Q'11 global prime properties report:
1. Prime properties price growth slowing for the first time since the recession of 2008/2009. On average, prime property price increased 4.3% in Sept 2011 compared to a year ago. The cooling down is partly due to government deflationary measures in Asian cities.
2. New York prices up 9.3% during the same period, outperforming the global average.
3. Prime properties recovered well from the recession. New York was up 25% from its recession low. London up 37%, Hong Kong 72%.
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