Prime Global Cities Index – Q1 2025
Prime city price growth holds steady as outlook becomes more uncertain.
Key findings:
- Average annual price growth across the 45-city basket was 2.8% in Q1 2025. This represents a marginal slowdown from the 3.2% recorded in Q4 2024, suggesting that while the recovery in prices continues, momentum remains modest and uneven.
- The market has now experienced two-years of positive growth following the trough of -0.6% in Q1 2023. Nevertheless, growth remains below the long-run average of 5.3%.
- Asia-Pacific and the Middle East continue to lead the recovery. Seoul remained a standout, with robust double-digit growth at 18.4%, driven by rising wealth and increasing institutional activity in the luxury residential segment.
- European cities show mixed results, with some markets such as Stockholm and Lisbon improving, while others including London and Vienna showing slower growth or slight decline.
Liam Bailey, global head of research at Knight Frank, said: “The resilience of prime global property prices is evident, particularly in Asia and parts of Europe. However, to unlock the next phase of growth, markets need the support of lower borrowing costs.”
Discover more by delving into our latest report below.
