Jakarta’s luxury real estate market is once again the hottest in the world, according to a study by real estate firm Knight Frank.
Where’s the hottest luxury real estate market in the world? Try Jakarta – for the second year in a row.
According to Knight Frank’s Prime Global Cities Index, which tracks luxury real estate markets in 30 cities around the world, prices for top homes in the Indonesian capital rose more than in any other city, up 37.7% at the end of 2013 from the year before.Dublin?...What's the richest country in the world?
Liam Bailey, Knight Frank’s global head of residential research, cited “very limited supply” and “very strong” demand as factors driving Jakarta’s high luxury property prices, “even if the Indonesian economy isn’t as strong as it was maybe two years ago.”
It’s the second year in a row Jakarta has topped the list. In 2012, the city saw its upper echelon of homes jump 38% in price from 2011.
The increase in Jakarta was more than double the price rise in second-ranked Dublin (17.5%)...MORE
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