According to a Knight Franke report released last on October 31st, this year’s global luxury housing prices increased 4.2 percent, with the greatest price growth taking place in China’s Guangzhou. The greatest price increase for luxury homes has taken place in the Asia Pacific, with the region holding five of the top 10 cities for annual growth.
Luxury markets around the globe are continuing to hold strong with steady price growth. Cape Town, South Africa is currently ranked No. 3 for the fastest rising luxury prices globally, having a year-over-year appreciation of 14.5%.
Of current, the typical price per meter is ranging around $20,840 USD, and the Knight Frank report writes “buyers—both domestic and international—recognizing the comparative value of such markets, whether looking for an investment or second home.”