Kyiv, with a rise of 7.5% in luxury residential prices in 2011, was ranked eighth among 23 key global cities, reads a press release of Knight Frank, referring to the Knight Frank Prime Global Cities Index, which tracks the performance of the world’s leading luxury residential markets.
"As for Kyiv’s luxury residential market, average prices in 2011 showed various trends. In H2, 2011, the price growth in Kyiv came to 14.2%, and the annual indicator stood at 7.5%. The growth is linked to new supply with high prices, for example, the Diamond Hill complex," the regional director of the housing property department at Knight Frank Russia & CIS, Elena Yurgeneva, said, commenting on the situation on the luxury residential market in Kyiv.
The expert also said that the entrance of each new project with prices that are higher or lower than the market prices due to the restricted supply of luxury residential in the capital influences the general price trend.
"As a whole, the prices were stable during the year for most projects," she added.
According to the report, Moscow was fifth with 9.8% growth, while St. Petersburg was tenth with 4% growth. Nairobi experienced the strongest price growth in 2011 – 25%.
Prices in Mumbai fell the most – by 18.1%, as well as in Monaco – by 10%.
Knight Frank was founded in London and provides a full range of agent and consulting services for developers, real estate owners and users, including businesses and individuals.
At present, Knight Frank jointly with its strategic partner – Newmark Knight Frank – has over 200 offices in 43 countries and unites over 6,300 specialists.
