{"id":10786,"date":"2018-11-04T10:10:25","date_gmt":"2018-11-04T18:10:25","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=10786"},"modified":"2018-11-02T14:40:43","modified_gmt":"2018-11-02T21:40:43","slug":"vancouver-placed-last-on-global-luxury-real-estate-markets-ranking","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/11\/vancouver-placed-last-on-global-luxury-real-estate-markets-ranking\/","title":{"rendered":"Vancouver Placed Last on Global Luxury Real Estate Markets Ranking"},"content":{"rendered":"<p style=\"text-align: justify;\">Two years ago, Vancouver topped international real estate consultancy Knight Frank\u2019s global ranking of the hottest luxury real estate markets.<\/p>\n<p style=\"text-align: justify;\">Now, the city placed dead last.<\/p>\n<p style=\"text-align: justify;\">\u201cVancouver &#8230;.. sits at the bottom of our rankings as upmarket areas such as West Vancouver have seen a marked slowdown in sales and prices as a result of the raft of measures introduced in February\u2019s Budget,\u201d Knight Frank explains in its latest Prime Global Cities Index report.<\/p>\n<p style=\"text-align: justify;\">BC\u2019s 2018 budget included a provincial speculation tax and a 5-percent hike to the existing foreign-homebuyer tax. The 20-percent tax was also expanded beyond Metro Vancouver to include the Fraser Valley, Capital Regional District, Nanaimo Regional District and Central Okanagan.<\/p>\n<p style=\"text-align: justify;\">Each quarter, Knight Frank rates 43 upscale global real estate markets, looking at the top 5 percent of properties.<\/p>\n<p style=\"text-align: justify;\">In the third quarter, luxury home prices took an 11.2-percent hit compared to the previous year, according to the index. Prices were off 8.1 percent from a half year ago and down 4.8 percent from the second quarter.<\/p>\n<p style=\"text-align: justify;\">The other Canadian city on the index, Toronto, was ranked seventh. With annual price growth of 8.5 percent, Canada\u2019s largest city placed behind Auckland and ahead of Moscow. \u201cToronto continues to see prime prices rise in its exclusive areas of Rosedale and Yorkville,\u201d Knight Frank notes.<\/p>\n<p style=\"text-align: justify;\">The top city for luxury real estate last quarter was Singapore. Prime real estate prices in the city-state surged 13.1 percent in 12 months.<\/p>\n<p style=\"text-align: justify;\">Singapore\u2019s strength is \u201cdriven by the limited availability of prime properties and a strong market outlook in the first half of 2018,\u201d says Knight Frank.<\/p>\n<p><a href=\"https:\/\/www.livabl.com\/2018\/11\/vancouver-dead-last-ranking-luxury-real-estate-markets.html\" target=\"_blank\" rel=\"noopener\">Vancouver Just Placed Dead Last on A Ranking of Global Luxury Real Estate Markets<\/a> by Josh Sherman | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two years ago, Vancouver topped international real estate consultancy Knight Frank\u2019s global ranking of the hottest luxury real estate markets. Now, the city placed dead last. \u201cVancouver &#8230;.. sits at &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/11\/vancouver-placed-last-on-global-luxury-real-estate-markets-ranking\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-10786","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Vancouver Placed Last on Global Luxury Real Estate Markets Ranking &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2018\/11\/vancouver-placed-last-on-global-luxury-real-estate-markets-ranking\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Vancouver Placed Last on Global Luxury Real Estate Markets Ranking &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Two years ago, Vancouver topped international real estate consultancy Knight Frank\u2019s global ranking of the hottest luxury real estate markets. Now, the city placed dead last. \u201cVancouver &#8230;.. sits at &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/11\\\/vancouver-placed-last-on-global-luxury-real-estate-markets-ranking\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/11\\\/vancouver-placed-last-on-global-luxury-real-estate-markets-ranking\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Vancouver Placed Last on Global Luxury Real Estate Markets Ranking\",\"datePublished\":\"2018-11-04T18:10:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/11\\\/vancouver-placed-last-on-global-luxury-real-estate-markets-ranking\\\/\"},\"wordCount\":289,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/11\\\/vancouver-placed-last-on-global-luxury-real-estate-markets-ranking\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/11\\\/vancouver-placed-last-on-global-luxury-real-estate-markets-ranking\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/11\\\/vancouver-placed-last-on-global-luxury-real-estate-markets-ranking\\\/\",\"name\":\"Vancouver Placed Last on Global Luxury Real Estate Markets Ranking &#8226; 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