San Francisco tops a global index based on prices for high-end real estate around the world. Its booming tech industry has helped push median asking prices in the area to more than $1 million, according to the Knight Frank Prime Global Cities Index. Home prices have risen about 14 percent in the past 12 months alone, according to the index.
The Knight Frank Prime Global Cities Index compares prime residential prices of the top 5 percent of the market in major global cities. The global index shows the following cities worldwide boast some of the hottest luxury housing markets, based on where home prices are rising by some of the highest amounts in the past 12 months:
- San Francisco: 14.3% (price rise)
- Bangalore, India: 13.6%
- Miami: 12.2%
- Vancouver, Canada: 11.8%
- Jakarta, Indonesia: 11.2%
- Tel Aviv, Israel: 10.2%
- Tokyo, Japan: 8.1%
- Dublin, Ireland: 8%
Source: “World’s Hottest Housing Markets,” CNNMoney (May 2015) via RealtorMag Online
http://realtormag.realtor.org/daily-news/2015/05/20/us-has-worlds-hottest-luxury-market?om_rid=AAFmZk&om_mid=_BVXMujB9B8LNd8&om_ntype=RMODaily
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