Although the price of luxury homes posted an average year-on-year increase of 0.9% worldwide, that is the lowest rate since the fourth quarter of 2009, during the height of the global financial crisis.
Despite the rise, the annual growth rate according to Knight Frank’s Prime Global Cities Index for the first half of 2020 – which tracks price movements in 45 cities around the world – is the weakest in the past 11 years.
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