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the rise in luxury property prices

the rise in luxury property prices

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Real estate has remained a safe bet for the luxury sector during the health crisis. Investment has been strong around the world, according to the Knight Frank Prime Global Cities Index, which has surveyed property price rises from Q1 2020 to Q1 2021.

 

The Knight Frank Prime Global Cities study was able to identify price increases in real estate in the major international metropolises over the past year. Interesting results, which can be linked to the pandemic that hit the world and had a major influence on the figures.

 

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First and foremost, worldwide, there was a 4.6% increase in purchases in the sector in the period March 2020 – March 2021. No fewer than eleven cities have recorded double-digit growth this year, compared with just one the year before. This is due to low mortgage rates – which are at an all-time low in some markets – tight inventory levels and a desire for a change of scenery after the multiple restrictions of Covid-19.

 

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