The Hottest Prime Property Markets Around The World

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Photo: SPI, dbox via Getty Images

Investors looking to broaden their portfolio are always on the hunt for prime property. But luxury home prices are beginning to ease as the rout in the global economy is hurting home prices.¬†Luxury property prices surged 4.3% for 21 prime cities in the year-to-September, but climbed just 0.5% in the third quarter, according to Knight Frank’s Prime Global Cities Index.¬†

Luxury homes in Asia are driving up property prices, while St. Petersburg posted the largest decline in the third quarter, falling 11.6%. We ranked the cities based on annual change.

Note: All data is for Q3 2011 unless otherwise indicated. Annual per cent change measures difference between September 2011 and September 2010. Six month change reflects price changes between June 2011 and September 2011.

#21 Mumbai, India

Annual change: -17.9%

Six-month change: -9.1%

Quarterly change: -2.5%

Source: Knight Frank

#20 Cape Town, South Africa

Annual change: -8%

Six-month change: -8%

Quarterly change: N/A

Note: Data is for Q2

Source: Knight Frank

#19 Singapore

Annual change: -6.8%

Six-month change: -5.4%

Quarterly change: -3.5%

Source: Knight Frank

#18 Abu Dhabi, UAE

Annual change: -3.6%

Six-month change: N/A

Quarterly change: N/A

Source: Knight Frank

#17 Dubai, UAE

Annual change: -0.3%

Six-month change: -2.3%

Quarterly change: -1.8%

Source: Knight Frank

#16 Monaco

Annual change: 0%

Six-month change: 0%

Quarterly change: 0%

Source: Knight Frank

#15 Los Angeles, USA

Annual change: 1.8%

Six-month change: 1.2%

Quarterly change: 1.7%

Note: Data is for Q2

Source: Knight Frank

#14 Shanghai, China

Annual change: 3.8%

Six-month change: 0.5%

Quarterly change: -0.7%

Source: Knight Frank

#13 Tel Aviv, Israel

Annual change: 4%

Six-month change: -4.1%

Quarterly change: -6.5%

Note: Data is for Q2

Source: Knight Frank

#12 Kiev, Ukraine

Annual change: 6%

Six-month change: 6.3%

Quarterly change: 13%

Source: Knight Frank

#11 Geneva, Switzerland

Annual change: 6.2%

Six-month change: 7.3%

Quarterly change: 4%

Source: Knight Frank

#10 Zurich, Switzerland

Annual change: 6.5%

Six-month change: -1.1%

Quarterly change: -0.8%

Note: Data is for Q2

Source: Knight Frank

#9 Paris, France

Annual change: 7.3%

Six-month change: 0%

Quarterly change: 0%

Source: Knight Frank

#8 St. Petersburg, Russia

Annual change: 7.7%

Six-month change: -4.2%

Quarterly change: -11.6%

Source: Knight Frank

#7 Hong Kong

Annual change: 7.8%

Six-month change: 0.4%

Quarterly change: -2.4%

Source: Knight Frank

#6 Moscow, Russia

Annual change: 8.5%

Six-month change: 3.4%

Quarterly change: 1.3%

Source: Knight Frank

#5 New York, USA

Annual change: 9.3%

Six-month change: 9.2%

Quarterly change: 5.4%

Source: Knight Frank

#4 Beijing, China

Annual change: 10.2%

Six-month change: 4.9%

Quarterly change: 2.2%

Source: Knight Frank

#3 London, UK

Annual change: 11.4%

Six-month change: 5.7%

Quarterly change: 2.2%

Source: Knight Frank

#2 Jakarta, Indonesia

Annual change: 15.1%

Six-month change: 11.9%

Quarterly change: 5.6%

Source: Knight Frank

#1 Nairobi, Kenya

Annual change: 25%

Six-month change: 12%

Quarterly change: 5%

Source: Knight Frank

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