GLOBAL COMPARISON:The Knight Frank Prime Global Cities Index compares 39 cities. Taipei’s Q4 showing, an 8% drop, was two notches up from the previous quarter
Date: Feb 27, 2017
By: Staff writer, with CNA
The prices of prime residential property in Taipei have fallen faster over the past year than in any major global city with the exception of Tokyo and Moscow, real-estate consultants Knight Frank said.
The average luxury home price in 39 cities in the world covered by the Knight Frank Prime Global Cities Index rose 4 percent in the fourth quarter of last year from a year earlier after an 3.8 percent year-on-year increase in the third quarter.
However, luxury home prices in Taipei fell 8 percent from a year earlier, only better than Tokyo (down 8.8 percent) and Moscow (down 11.2 percent).
Taipei rose two notches in the rankings from the third quarter, when luxury home prices fell 8.9 percent from a year earlier, Knight Frank said. [FULL STORY]