The ranks of the ultrawealthy are growing fast, and their money is driving up high-end real estate prices. According to “The Wealth Report” for 2018 from London-based real estate consultancy Knight Frank, the number of people worldwide with at least $50 million in net worth increased 10% in 2017, to 129,730. Meanwhile, Knight Frank’s PIRI 100, an index of real estate prices in the world’s top 100 markets, gained 2.1%, vs. 1.4% in 2016. Leading the way was Guangzhou, China, where values shot up 27.4%, even as price growth in Shanghai and Beijing slowed. Europe placed four cities—Amsterdam, Frankfurt, Paris, and Madrid—in the top 10.
Real Estate
The Cities Where Luxury Real Estate Prices Are Rising the Fastest Globally
Prices in European markets surged last year. And values in one Chinese city shot up 27%.
