Citi Private Bank and Knight Frank have released their 2007 Annual Wealth Report, and in it, they use property benchmarks to rank the world’s prime property markets. London, takes the title of Most Expensive, just barely edging out Monaco. New York comes in third, with Hong Kong and Tokyo rounding out the Top 5.
Not many surprises there, though. What’s more interesting are the cities making moves towards the Top 10. The report calls out St. Petersburg and Moscow in Russia, Dehli and Mumbai in India, and Guangzhou and Beijing in China as the cities with the most price growth and therefore, the most potential for a higher status in the near future: “We forecast that within 10 years, Moscow will view with London for the most expensive city in the world”.
Who falls? New York. The report forecasts New York City slipping to four behind Hong Kong.
Source: Overseas Property Mall
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Mercer Consulting: Moscow Most Expensive City « The Qube Exchange // June 18, 2007 at 5:48 pm |
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