Prime Global Cities Index – Q3 2025
Knight Frank’s Prime Global Cities Index tracks the performance of luxury residential prices across key global cities on a quarterly basis using data compiled by our global research network.
Key findings:
-
Average annual house price growth across our 46-city basket slowed to 2.5% in the third quarter of 2025, down from 3.0% in Q2.
-
61% proportion of the cities tracked saw positive house price growth over the past 12 months.
-
Dubai registered a five-year growth of 198%.
-
Tokyo is the city with the fastest rate of annual growth in Q2.
Liam Bailey, Global Head of Research at Knight Frank, commented: “Prime house price growth has cooled to its slowest pace in two years, as a slowing pace of global rate cuts keeps a lid on performance across global cities. But with rates set to fall further in 2026, the groundwork for a rebound is building.”
Discover more by delving into our latest report below.
