Rooftops in Paris. Image courtesy: Reuters
Prices of luxury residential spaces in Paris have risen the fastest lately. This is probably because of buyers from emerging markets who competed for a limited number of properties, a Knight Frank report stated.
The values of houses and apartments that are worth more than 2 million euros has increased about 22 percent in the Paris, and according to the Knight Frank report, it is buyers from the BRIC nations - Brazil, Russia, India and China - who are increasingly looking to Paris as a safe haven to invest funds in a mature and high-performing market, the report claims.
Seconding the French capital is Hong Kong with a 15 per cent rise and third place was bagged by Helsinki with 12 per cent. Shanghai and Beijing were among the top five.
Knight Frank deals in global property transactions, management and advisory services.
Here's the 15 Prime Global Cities Index by Knight Frank:
- Hong Kong
- St Petersburg
- New York (Manhattan)
- Los Angeles
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