The global property market stable during the first half of 2021
According to Savills, one of the world’s leading real estate consultants, luxury housing in the world is experiencing the fastest price increase since 2016. Real estate prices in the “prime market” have increased by almost 4% during the first half of 2021.
The global property market has been stable during the first half of 2021, according to the latest update of the ‘Prime Residential World Cities Index’ by Savills Aguirre Newman. Prices in the 30 cities analyzed increased by an average of 3.9% during the first half of the year, the fastest growth since December 2016.
Low interest rates, increased sales in the upper price range and economic stimulus measures have contributed to the sharp rise in property prices, according to Savills. This growth has been preceded by a more moderate period, as prices between June 2018 and December 2020 only grew by an average of 0.7% due to global uncertainty.
However, more than 70% of the sites saw positive growth, while the rest are heavily dependent on international buyers and have been damaged by travel restrictions.