The Knight Frank Global Cities 2017 Report
Knight Frank releases its 2017 report on global cities.
Published on 13 March 2017
Which cities should you invest in? Independent global property consultancy Knight Frank launched Global Cities: The 2017 Report, which examines the market performance of 31 global cities across the world.
Asia-Pacific cities experienced highest rental growth: three of the five costliest cities globally are in Asia-Pacific – with Hong Kong boasting the highest capital values for prime central office space, followed by Tokyo in second place and Singapore in fifth. According to the report’s Skycrapers Index, Hong Kong skyscrapers are the world’s most expensive.
Of the global cities analysed, 12 are in Asia-Pacific – a region continuing to grow in economic importance globally. However, the prime office rents forecast from Q4 2015 to Q4 2019 show a huge range of future performance prospects:
the cities that draw the most overseas capital
Sales to foreign investors – USD billion (12 months to June 2016)
*Source: Knight Frank, Newmark Grubb Knight Frank, RCA
Global Cities: The 2017 Report was developed in light of three major trends shaping the times. Firstly, negative interest rates have reduced investors’ expectations on what constitutes an acceptable return, which is drawing capital towards real estate.
Secondly – despite the volatile economic environment – the avalanche of technological innovation continues to drive demand for property on a global scale.
Thirdly, fast-growing cities are centrestage in the digital and creative revolutions. In many of those at the forefront, supply is not keeping pace with demand for both commercial and residential real estate.
To learn more, download the report here
In 2017 SmartSearch™ has found better advice for over $500 million of our user’s wealth