{"id":605,"date":"2015-12-25T11:12:13","date_gmt":"2015-12-25T04:12:13","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-rents-across-the-globe-are-at-their-lowest-in-5-years\/"},"modified":"2016-01-03T17:51:58","modified_gmt":"2016-01-03T10:51:58","slug":"luxury-rents-across-the-globe-are-at-their-lowest-in-5-years","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-rents-across-the-globe-are-at-their-lowest-in-5-years\/","title":{"rendered":"Luxury rents across the globe are at their lowest in 5 years"},"content":{"rendered":"


\nEven London has slipped from first place
\nGuangzhou took the top spot
\nKnight Frank recently released its\u00a0Prime Global Rental Index for Q3 2015, revealing that luxury residential rents across the world fell by 0.9 percent in the year to September, the index\u2019s weakest performance in five years.
\nThe index tracks the changes in rents of the top 5 percent of the housing market in 17 global cities and ranks them accordingly.
\nGuangzhou leads the annual rankings this time with prime rents up 6.2 percent, knocking perennial luxury favourite London off the top spot, who only recorded rental growth of 2.4 percent over the year \u2013 its lowest rate since September 2014.
\nThe Chinese city is not expected to hold its number one ranking for long, however, as local housing policy is certain to influence prime rental demand. Rents are expected to dip in Q4 2015 as interest rate cuts across China and the relaxation of foreign ownership rules shift demand back towards the sales market.
\nMore: What\u2019s causing the global prime rents index to slip?
\nSingapore and Beijing performed the worst\u00a0of the recorded cities in Asia Pacific, finding themselves in 14th and 16th place, respectively. Moscow was placed in last position.
\n\u201cOf the 17 cities tracked by the index, nine recorded flat or falling prime rents in the 12 months to September 2015,\u201d commented Kate Everett-Allen, partner \u00a0of international residential research at Knight Frank.
\n\u201cThe strong link between economic performance and prime rental growth explains the low rankings of Singapore, Beijing and Moscow where economic output is slowing or tepid at best.\u201d
\nvia Knight Frank
\nAcross the world as a whole, Africa recorded the strongest rise in prime rents \u2013 up 1.3 percent on average \u2013 and proved to be the only world region to record a positive growth rate.
\nThe index peaked in Q4 2014, having increased 23 percent from the crushing lows it recorded in Q2 2009 amidst the context of the financial crisis.
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\nImage is\u00a0by\u00a0wallace_Lan\u00a0and used under a Creative Commons licence
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\nSource : property-report.com
\nRead more…Luxury rents across the globe are at their lowest in 5 years<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Even London has slipped from first place Guangzhou took the top spot Knight Frank recently...<\/p>\n","protected":false},"author":1,"featured_media":606,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-605","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2015\/12\/knight-frank-global-prime-rents-1024x681.jpg?fit=1024%2C681&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-9L","jetpack-related-posts":[{"id":28313,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-rents-in-these-4-asian-cities-are-rapidly-rising\/","url_meta":{"origin":605,"position":0},"title":"Luxury rents in these 4 Asian cities are rapidly rising","date":"October 3, 2016","format":false,"excerpt":"\r While Hong Kong and Singapore come crashing down Tokyo Skytree Tower in Japan. ZeroSystem \/ Shutterstock Prime rents in Tokyo are growing the fastest in Asia, Knight Frank revealed in its latest Prime Global Rental Index. Posting a 9 percent year-on-year growth in 12 months to June, the Japanese\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":50337,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/spore-prime-residential-rents-down-3-3-in-q4-2016\/","url_meta":{"origin":605,"position":1},"title":"S\u2019pore prime residential rents down 3.3% in Q4 2016","date":"March 31, 2017","format":false,"excerpt":"\r Luxury residential rents in Singapore are still falling. Singapore saw prime residential rents drop 3.3 percent in the fourth quarter of 2016 from the previous year, according to a Knight Frank report. This comes as Knight Frank\u2019s Prime Global Rental Index fell marginally by 0.4 percent in 2016. 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