25/04/2008

2008 Annual Wealth Report published

Those responsible for relocating senior managers may find the 2008 edition of Knight Frank and Citi Private Bank’s Wealth Report interesting reading. The report analyses the relationship between high net worth individuals and prime residential property. Key findings were:

• Global prime property prices rose by 11% during 2007

• The highest price growth achieved by prime residential properties was in Antigua (40%); St Jean Cap Ferrat, France (39%) and St Petersburg (38%)

• The areas with the weakest growth during 2007 were Dublin (-15%); Ibiza (-13%) and Noosa Heads, Australia (-7%)

• London is the most expensive location for prime residential property, with an average price of £3,025 per sq ft. Monaco is second at £2,877 per sq ft, and St Jean Cap Ferrat third at £2,860 per sq ft

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