Budapest is the third city in the world with the highest flat price growth
Knight Frank revealed its Global Residential Cities Index of 2018 to represent the price increase of flats and estates in major cities. The statistics revealed that the Hungarian capital has the highest rate of annual growth, approximately 19%.
Portfolio reported that the first two places are taken by an Indian and a Chinese town, and the bronze medal goes to Budapest. Besides the Hungarian capital city, other major cities like Porto, Rotterdam and Amsterdam are in the top 15 with more than 10% of annual growth.
The statistics revealed the annual growth of more than 150 cities across the world.
The last fifteen places are taken by mostly Italian towns and cities like Torino, Genova, Palermo and Rome with 13% of annual growth. Many Australian towns are also at the end of the list along with the Swedish capital Stockholm and the town of Goteborg with 3% of annual growth.
This means that, in Italy and Sweden, the price of flats started to decrease.
Other honourable mentions in the statistics might be Berlin and San Francisco with an annual growth of 10% while Los Angeles, Istanbul, Tokio and Paris have gone through a 3-5% of growth in the last year. The price of flats increased with 2,7% in New York City, 0,4% in Beijing and decreased in London with 0,3%.