Based on Knight Frank's latest Global House Price Index, average annual price growth slowed across a cohort of world cities in Q2 2023, falling to 1.7% from 3.2% in Q1 of 2023.
Global house price growth ticked up to 3% in Q2 of 2023, up from 2.9% in the previous quarter. About a third of markets saw prices decline during the most recent three months, narrowing from four in ten over the past year.
According to ING, high interest rates and soaring building costs have drastically reduced the demand for new buildings in Europe.
Based on Knight Frank's newly released Global Branded Residences Report 2023, the branded residences property sector has enjoyed sustained growth despite significant recent global economic turmoil.