Taiwan News
Date: 2016-08-24
By: Central News Agency

Taipei, Aug. 24 (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 Hong Kong, according to real estate market consulting agency REPro Knight Frank.
The average luxury home price in 37 cities in the world covered by the Knight Frank Prime Global Cities Index rose 4.4 percent from June 2015 to June 2016, but fell 7.7 percent in Taipei during the same period, ranking it 36th in the world in the survey.

The rate of decline was only surpassed by Hong Kong, which ranked at the bottom of the index with an 8.4 percent fall in the price of an average luxury home in the city, according to REPro Knight Frank.

Vancouver topped the rankings with a 36.4 percent increase in luxury home prices from June 2015 to June 2016, followed by Shanghai with a 22.5 percent increase and Cape Town with a 16.1 percent increase. REPro Knight Frank said the index was compiled based on government statistics, including data from central banks of the countries where the cities are located.     [FULL  STORY]