Knight Frank’s data shows that 80% of markets see positive rental growth year-on-year. When compiling the report, they looked at New York, London, Miami, Singapore, Sydney, Toronto, Berlin, Los Angeles, Tokyo, Auckland, Monaco, Frankfurt, Zurich, Geneva, and Hong Kong.
Hong Kong, Toronto, and Singapore were the only cities that did not see positive yearly growth this quarter.
When comparing the latest figures to Q1 2021, prime rents are now 27% above these levels on average. The most robust growth was found in New York and London, where rents have risen by over 50% since Q1 2021, making these cities long-term leaders in prime rental inflation.