Water Mill, NY home; listing via Knight Frank
For the fifth consecutive quarter, luxury home prices are growing faster in Vancouver, British Columbia, Canada than anywhere else.
According to Knight Frank, in the 12-month period ending June 2016, Vancouver?s average prime real estate surged 36.4 percent, considerably more than second-place Shanghai?s 22.5 percent growth. Globally, the price index increased 4.4 percent, the most in two years, even as traditional players have faltered.
“If we omit Vancouver, the index increased by 3.4 percent in the year to June 2016,” said Kate Everett-Allen, partner, international residential research at Knight Frank. “Our mainstream equivalent index, the Global House Price Index which tracks prices in 55 countries globally, increased by 3.4 percent in the year to March (latest data available) suggesting there is some correlation between prime and mainstream residential markets globally.” The Prime Global Cities Index, which tracks real estate prices across cities worldwide, expanded for Q2 2016 with the inclusion of Toronto and San Francisco to bring the total to 37 cities. Prime real estate is defined as property priced in the top 5 percent of each city?s housing market.
Foreign investments

New players Toronto and San Francisco recorded annual growth of 12.6 percent and 4.9 percent, respectively, accounting for a portion of the index?s holistic growth. San Francisco, ranked 14th overall, also represents the U.S.?s ...