Savills Prime Residential Index: World Cities

Savills Prime Residential Index: World Cities monitors the performance of prime residential property across 30 global cities; tracking capital, rental and yield values. Average growth in 2023 was 2.2% for capital values, while rents grew at 5.1% on average.

In a year of global economic volatility, residential property has defied expectations and remained resilient, with positive capital value growth seen across many of our World Cities markets in 2023. In times of uncertainty, real estate is often viewed as a safe store of wealth.

The year ahead is the year of elections, adding an additional layer of uncertainty to the outlook. Globally, there are elections taking place in almost 70 countries, accounting for over 40% of the global population and making up over 60% of the world's economic output. As such, we are expecting lower, but still positive, levels of capital value growth in 2024. Some cities are forecast to outperform, with Sydney and Dubai leading the pack.

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