Istanbul and Dublin showed the highest growth in prices for luxury property

March 10, 2015

Istanbul and Dublin showed the highest growth in prices for luxury property

The cost of elite residential real estate in the world soared in 2014 by 2%, according to the Prime International Residential Index by Knight Frank. Unlike some American (New York, Aspen) and Asian mega-cities (Bali, Abu Dhabi), many European cities were limited to minor changes. Cities that stand out from the list in 2014 were Istanbul (+15%, the third place in the world top 20) and Dublin (+13.4%, 7th place), ee24.com informs.

Besides Istanbul and Dublin, among the leaders in Europe are Amsterdam (10%), Berlin (9%), Verbier and Munich (8%), Frankfurt (7.5%), Madrid and London (both 5.1%) and Ibiza (5%).

The worst situation with prices in 2014 was in the cities and regions of Italy as Milan (-12%), Cortina d'Ampezzo (-10%), Sardinia (-8%) and Umbria (-7%). The decline was also recorded in several regions of France (Dordogne -6%, Courchevel 1850 -5.4%) and Switzerland (Zurich -8%, Lausanne -5%, etc.).

The main photo: panorama of Istanbul

 

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The ee24.com forecast for 2015: what is the future of real estate markets in Europe?