The city-state was rated 28th in Knight Frank’s Global Residential Cities Index report.

House prices in Singapore climbed 8.8 percent year-on-year during the 3rd quarter of 2018, exposed a Knight Frank record.

The city-state was rated 28th in Knight Frank’s Global Residential Cities Index Q3 2018, while Chinese city Xi’a covered the index with a rate growth of 20 percent.

5 other Asian cities sign up with Xi’an in the top ten rankings, including Hong Kong (7th) as well as four Indian cities– Ahmedabad (2nd), Hyderabad (fourth), Bengaluru (fifth) and Surat (nine).

Completing the top 10 checklist are Budapest (third), Porto (6th), Rotterdam (eighth) and Amsterdam (10th).

” Analysis by world region reveals cities in Asia Pacific have seen a surge in growth over the last 12 months,” claimed Knight Frank.

” On standard, rates throughout Asia Pacific cities boosted 6.2 percent over the 12-months to September 2018, up from 3.3 percent a year back. Of the remaining globe areas, only Latin America and also Russia/CIS have actually seen cost development accelerate, all others, including Europe and also North America, have registered slower development.”

Around the world, home rates increased 4.5 percent usually.

The report kept in mind that 123 of the 150 cities tracked registered a hike in residential rates, while numerous very first rate cities such as London, Shanghai, Melbourne as well as Kuala Lumpur posted a decrease in rates.

Stockholm, Tel Aviv as well as Turin stood for the three weakest city markets throughout the duration, with cost declines of 7, eight and 13 percent respectively.

“A mix of economic stagnancy, high prices of new supply and cost restrictions are contributing to softening costs in a number of these metropolitan markets,” said Knight Frank.

Source: https://www.propertyguru.com.sg/property-management-news/2018/12/177275/singapore-home-prices-up-8-8-in-q3

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