Vancouver ranks best luxury real estate market in the world: Report

Posted on 16 March 2016. Tags: Best, estate, Luxury, market, ranks, Real, report, Vancouver, World

A new report on the behaviour of so-called “ultra-high net worth individuals” (UHNWIs) ranks Vancouver as the best-performing luxury housing market in the world. And it’s not close.

Vancouver is number one on the 2016 Prime International Residential Index (PIRI), a list of 100 real estate markets ranked in order by year-over-year growth, which is compiled annually by UK-based consultants Knight Frank in a publication called “The Wealth Report.”

The index measures the increase in value of what Knight Frank calls “the most desirable and most expensive property in a given location, generally defined as the top 5 per cent of each market by value.”

Contributed By Sonia Narula

News of Delhi