Knight Frank’s Prime Global Forecast Report sets out how we expect the world’s top luxury housing markets to perform in the coming year, highlighting some of the key risks and opportunities that lie ahead.
Key Highlights:
- Knight Frank’s latest projections for prime prices in 2023 and 2024 have been revised upwards by the global research network, foreseeing an average growth of 2.4% in 2023 and 2.5% in 2024.
- Dubai leads the price forecast for 2023 with 14% growth envisaged, while Auckland (+10%) is the frontrunner for 2024.
- Cautious optimism is emerging as prime buyers consider economic headwinds to be easing, while supply remains constrained in several cities.
- Cash buyers as a proportion of all prime sales, have risen from 46% to 52% in the latest six months according to our research network.
- Elections rank as the biggest potential risk to prime markets in 2024, with the relaxation of tax and property regulations considered the biggest opportunity.
Discover more by delving into our latest Global Prime Residential Forecast Report below.
