Prime rents in key cities worldwide rose by 5.1% in 2012, up from 3.5% a year earlier. A tight mortgage market along with limited supply (in the established markets) and rising property prices (in the emerging markets) pushed many would-be purchasers into rental accommodation. Kate Everett-Allen assesses the latest data.
Prime rents in key cities worldwide rose by 5.1% in 2012, up from 3.5% a year earlier. A tight mortgage market along with limited supply (in the established markets) and rising property prices (in the emerging markets) pushed many would-be purchasers into rental accommodation. Kate Everett-Allen assesses the latest data.
Results for Q4 2012
- The Knight Frank Prime Global Rental Index rose by 1.6% in the final quarter of 2012 and by 5.1% over the course of the year
- The index now stands 20% above its post-financial crisis low in Q2 2009
- Nairobi saw the largest increase in prime rents, rising 17.9% in 2012
- Since Q2 2009, Hong Kong has seen the largest increase in prime rents (up 42.2%) and Moscow the lowest (up 3.3%)
- In 2012, of the cities tracked, only London recorded a fall in prime rents, down 3.2% in the 12 months to December
Julie is passionate about property – development, investment and portfolio planning. Along with husband Alec, Julie is actively building a property portfolio while helping others to do the same.
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