Every year luxury estate agent Knight Frank and Wealth-X, the research firm that concentrates on high net worth individuals, release a comprehensive report about the world’s wealthiest people, and most expensive things.
It features all sorts of insights, including what super rich people are spending their money on, what they’re most worried about, and where they’re flying their private jets the most (seriously!)
The report also includes a look at the cities where the price of so-called “prime property” — basically swanky apartments and houses — is increasing the most, using data from Knight Frank’s global network of estate agents.
You might think that property prices in London, where average house prices are as much as 38 times higher than earnings in some places, would be right at the top of Knight Frank’s list, but it doesn’t even make it onto our ranking, coming in 54th.
Other major cities to miss out include New York, Moscow, Rome, and Tokyo, all of which saw prime properties gain less than 2.5% in value during 2015.
You can check out the cities where prime property prices are rising the most below.