The COVID-19 pandemic plunged many global housing markets into chaos as sellers and movers were forced into lockdown – but house prices are still increasing in many cities at the same rate as in previous years.
Coronavirus has hit many markets – fewer cities are reporting double digit price rises and the number with falling property values has slightly increased, says monitor Knight Frank’s Global Residential Cities Index for Q2 2020.
Strong demand and a weakening currency have put three Turkish cities – Izmir, Ankara and Istanbul – at the top of the listing for the first time with house prices rising between 20% and 28%.
Several European cities have slipped down the rankings and real estate prices in the USA have echoed the collapse.
The cities with the biggest price drops are in the United Arab Emirates, when property values fell 6.6% in Dubai and 8.3% in Abu Dhabi.
Many of the 150 cities listed are favoured destinations for expats who can see how local property markets are performing before moving.
Global Residential Cities Index Q2 2020
Rank | City | Country | Yearly price change |
---|---|---|---|
1 | Izmir | Turkey | 28.10% |
2 | Ankara | Turkey | 26.40% |
3 | Istanbul | Turkey | 20.20% |
4 | Manila | Philippines | 18.30% |
5 | St Petersburg | Russia | 16.20% |
6 | Seoul | South Korea | 15.20% |
7 | Luxembourg | Luxembourg | 13.90% |
8 | Ottawa | Canada | 13.00% |
9 | Zagreb | Croatia | 12 .6% |
10 | Halifax | Canada | 11.80% |
11 | Kiev | Ukraine | 11.20% |
12 | Lyon | France | 10.90% |
13 | Hobart | Australia | 10.80% |
14 | Milan | Italy | 10.80% |
15 | Athens | Greece | 10.50% |
16 | Montreal | Canada | 10.30% |
17 | Budapest | Hungary | 9.80% |
18 | Bratislava | Slovakia | 9.70% |
19 | Bucharest | Romania | 9.60% |
20 | Sydney | Australia | 9.40% |
21 | Toronto | Canada | 9.10% |
22 | Wuxi | China | 9.00% |
23 | Phoenix | USA | 9.00% |
24 | Utrecht | Netherlands | 9.00% |
25 | Warsaw | Poland | 8.90% |
26 | Hamilton | Canada | 8.40% |
27 | Tallinn | Estonia | 7.90% |
28 | Wuhan | China | 7.80% |
29 | Rotterdam | Netherlands | 7.80% |
30 | Xi’an | China | 7.80% |
31 | Marseille | France | 7.80% |
32 | Venice | Italy | 7.80% |
33 | Trieste | Italy | 7.80% |
34 | Wellington | New Zealand | 7.30% |
35 | Vilnius | Lithuania | 7.00% |
36 | Hyderabad | India | 6.90% |
37 | Melbourne | Australia | 6.80% |
38 | Paris | France | 6.80% |
39 | Canberra | Australia | 6.70% |
40 | Santiago | Chile | 6.70% |
41 | Seattle | USA | 6.50% |
42 | Malmo | Sweden | 6.30% |
43 | Sofia | Bulgaria | 6.20% |
44 | Stockholm | Sweden | 6.10% |
45 | Nanjing | China | 6.00% |
46 | Geneva | China | 6.00% |
47 | Ningbo | China | 6.00% |
48 | Porto | Portugal | 6.00% |
49 | Edinburgh | UK | 5.80% |
50 | Auckland | New Zealand | 5.80% |
51 | Thessaloniki | Greece | 5.50% |
52 | Zurich | China | 5.50% |
53 | Changsha | China | 5.40% |
54 | Minneapolis | USA | 5.40% |
55 | Amsterdam | Netherlands | 5.30% |
56 | Shenzhen | China | 5.30% |
57 | Mexico city | Mexico | 5.30% |
58 | Hangzhou | China | 5.20% |
59 | Chongqing | China | 5.20% |
60 | Winnipeg | Canada | 5.10% |
61 | San Diego | USA | 5.00% |
62 | Berlin | Germany | 4.90% |
63 | Lille | France | 4.90% |
64 | Bristol | UK | 4.60% |
65 | Reykjavik | Iceland | 4.40% |
66 | London | UK | 4.30% |
67 | Atlanta | USA | 4.20% |
68 | Hamburg | Germany | 4.20% |
69 | Vienna | Austria | 4.10% |
70 | Bogota | Colombia | 4.10% |
71 | Miami | USA | 4.00% |
72 | Denver | USA | 4.00% |
73 | Los Angeles | USA | 3.90% |
74 | Gothenburg | Sweden | 3.80% |
75 | Shanghai | China | 3.70% |
76 | Frankfurt | Germany | 3.60% |
77 | Beijing | China | 3.60% |
78 | Brussels | Belgium | 3.60% |
79 | Washington | USA | 3.50% |
80 | Boston | USA | 3.50% |
81 | Detroit | USA | 3.30% |
82 | Bengaluru | India | 3.30% |
83 | Tokyo | Japan | 3.20% |
84 | Copenhagen | Denmark | 3.10% |
85 | Dallas | USA | 3.10% |
86 | Munich | Germany | 3.00% |
87 | Osaka | Japan | 3.00% |
88 | Qingdao | China | 2.50% |
89 | Sao Paulo | Brazil | 2.50% |
90 | Bern | Switzerland | 2.40% |
91 | Glasgow | UK | 2.40% |
92 | Moscow | Russia | 2.40% |
93 | Lisbon | Portugal | 2.20% |
94 | Oslo | Norway | 2.20% |
95 | Adelaide | Australia | 2.20% |
96 | Limassol | Cyprus | 1.90% |
97 | Manchester | UK | 1.80% |
98 | New York | USA | 1.70% |
99 | Tel Aviv | Israel | 1.70% |
100 | Jakarta | Indonesia | 1.50% |
101 | San Francisco | USA | 1.50% |
102 | Nagoya | Japan | 1.40% |
103 | Skopje | Macedonia | 1.40% |
104 | Ljubljana | Slovenia | 1.40% |
105 | Nicosia | Cyprus | 1.20% |
106 | Singapore | Singapore | 1.20% |
107 | Vancouver | Canada | 1.10% |
108 | Exeter | UK | 1.00% |
109 | Helsinki | Finland | 1.00% |
110 | Florence | Italy | 0.90% |
11 1 | Sevilla | Spain | 0.80% |
112 | Napoli | Italy | 0.80% |
113 | Rome | Italy | 0.80% |
114 | Jerusalem | Israel | 0.70% |
115 | Chicago | USA | 0.60% |
116 | Brisbane | Australia | 0.50% |
117 | Guangzhou | China | 0.50% |
118 | Taipei city | Taiwan | 0.40% |
119 | Birmingham | UK | 0.30% |
120 | Haifa | Israel | 0.30% |
121 | Riga | Latvia | 0.10% |
122 | Quebec | Canada | 0.00% |
123 | Tianjin | China | -0.10% |
124 | Lima | Peru | -0.10% |
125 | Malaga | Spain | -0.20% |
126 | Zhengzhou | China | -0.40% |
127 | Dublin | Ireland | -0.50% |
128 | Turin | Italy | -0.60% |
129 | Madrid | Spain | -0.80% |
130 | Kuala Lumpur | Malaysia | -1.20% |
131 | Perth | Australia | -1.20% |
132 | Calgary | Canada | -1.30% |
133 | Rio de Janeiro | Brazil | -1.30% |
134 | Palermo | Italy | -1.40% |
135 | Oxford | UK | -1.80% |
136 | Ahmedabad | India | -1.90% |
137 | Barcelona | Spain | -2 .1% |
138 | Edmonton | Canada | -2 .4% |
139 | Genoa | Italy | -2 .5% |
140 | Valencia | Spain | -2 .7% |
141 | Hong Kong | Hong Kong | -2 .7% |
142 | Mumbai | India | -3.20% |
143 | Kolkata | India | -3.70% |
144 | Darwin | Australia | -5.10% |
145 | Pune | India | – 5. 4% |
146 | Chennai | India | -5.50% |
147 | Aberdeen | UK | -5.70% |
148 | Delhi | India | -5.80% |
149 | Dubai | UAE | -6.60% |
150 | Abu Dhabi | UAE | -8.30% |
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