Guangzhou Is The Hottest Real Estate Market In The World

According to Knight Frank, in the second quarter of 2017, Guangzhou (China) is a city had the highest real estate price in the world.

This is the first city in mainland of China to record house price of 35.6% in the past 12 months, as of June 2017. Meanwhile, Beijing has the strongest decline, with high-end property values in the capital rising only 15 percent, compared to a year-on-year growth of 22.9 percent. Accordingly, 41 cities were tracked with a 4.4% increase during the survey period, while another 28 cities had a stable price.

Shanghai also recorded a sharp drop in its annual real estate price growth in the second quarter. Shanghai grew at an annualized rate of 19.7%.

Read more: Vietnam Real Estate News 

Guangzhou is the hottest property market in the world

According to Kate Everett-Allen, director of research for the global population of Knight Frank, the cities in Asia, Russia and the Community of Independent States account for 10 out of 17 cities with a growth rate yearly decreasing compared to the previous quarter. In contrast, the cities in Europe and Oceania have representatives in the group whose growth has increased year on year.

Toronto has a high-end real estate price increasing 20.7% as to June 2017. While the numbers indicate that the possibility overcomes restrictions for overseas home buyers, the big city of Canada shows an increased rate of 5.1% in the three months as to June, went down from an increased rate of 8.5% in the previous quarter.

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