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Vancouver Ranks Top In Global Luxury Real Estate Market

Vancouver ranks top in global luxury real estate market

By CBC News for CBC News

A new report into the 2015 global luxury real estate market ranks Vancouver as the top performing city worldwide.

In a top 100 list that includes Shanghai, San Francisco and Monaco, Vancouver is the clear leader, with prices accelerating 24.5 per cent last year.

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Sydney, ranked second, grew just 14.8 per cent in the same time period. Toronto placed at number 12, with an eight per cent rise.

U.K.-based property consultants Knight Frank’s The Wealth Report ranks cities in what they call their Prime International Residential Index (PIRI), which, they say, tracks the most sought-after property markets around the world.

They define prime property as “the most desirable, and normally most expensive, property in a defined location,” generally the top five per cent of any given market.

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