Global Residential Cities Index



by Lisa Ronosetiko

Global cities index

Global Residential Cities Index

The GRCI provides a quarterly snapshot of trends in mainstream housing markets across 150 world cities.

Key findings:

  • Annualised price growth across the Knight Frank Global Residential Cities Index has fallen sharply in recent quarters, from a high of nearly 12% at the beginning of 2022.

  • The latest reading confirms that across our basket of 150 cities prices rose on average by 3.1% in the 12-months to March 2023.

  • Fully 51% of the cities tracked in the index saw prices fall over the most recent three-month period, with seven markets seeing prices fall by more than 5%.

  • The correction in prices which began in late 2021, has seen peak to trough falls of up to 24% in Wellington, New Zealand, closely followed by 22% in Buenos Aires.

  • Several eastern and south-eastern European markets have continued to see strong price acceleration in recent months: Zagreb (22.5%), Budapest (20.2%), Skopje (18.8%) and Athens (16.4%).