London plunges, Berlin soars, in global property index

Knight Frank, the international property company, has reported that Berlin leads the latest league tables for increases in luxury property prices, with a 12.7 percent annual jump in the 12 months to June, 2019. Frankfurt has also leapt, with an increase from nine to 12 percent growth.

London luxury property prices fell by 4.9 percent over the 12 months, while Hong Kong remained stable. Madrid prices grew by 5.2 percent, Paris by five percent and Edinburgh by 4.3 percent. The biggest fall in prices was in Vancouver, where they fell by 13.6 percent.

Overall, the Prime Global Cities Index increased by 1.4 percent. The Index tracks 46 cities globally. According to Knight Frank, Monaco prices rose by three percent in the second quarter of 2019.

PHOTO: Berlin