No surprise, house prices are getting more expensive worldwide
A new report has revealed what you’ve always suspected: property prices in Cape Town and Johannesburg are getting more expensive. The Knight Frank Global Residential Cities Index‚ released this week‚ shows that property prices have been increasing across the world from the third quarter of 2016 until the same period last year — even if the rate of growth has slowed. The index tracks the movement in mainstream house prices across 150 cities worldwide. Cape Town and Johannesburg are the only two South African cities on the list. Cape Town took number 31 on the index‚ with an 8.4% annual house price growth, with Johannesburg at 3.2% — beating big cities such as Mumbai‚ Washington DC‚ London and Auckland‚ despite coming at number 90 on the index. However, these property price increases were nothing compared to Reykjavik‚ the capital and largest city of Iceland. It tops the rankings and is the only one of the 150 cities where annual house price growth exceeded 20% in the year to Septembe...
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