The Best Performing Residential Markets Around the World

Price appreciation in the Philippine’s capital city of Manila lead the annual ranking of Knight Frank’s latest Global Residential Cities Index for the second year in a row with a 35 percent change between Q3 2019 and Q3 2020.

Globally, the annual rate of home price growth increased between Q2 and Q3 2020, from 4.1% to 4.7%, and 18 international cities saw prices rise by more than 10% year-on year, up from 16 in Q2 2020.

Four Canadian cities (Ottawa, Halifax Montreal and Hamilton) are in the top 20 with news that Canada is considering a countrywide foreign buyer tax. US cities have also risen up the rankings with three making it into the top 20 (Phoenix, Seattle and San Diego).

Some 15% of cities saw prices decline in the year to Q3 2020. Dubai ranked last in the index with a negative price appreciation of 8.1 percent.