Vancouver Ranks Top in Global Luxury Real Estate Market

A new report into the 2015 global luxury real estate market by Knight Frank 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.

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.

Vancouver’s surge is credited to a lack of supply compared to international demand, as well as the weakened Canadian dollar.

See top 20 in the image below: