21. Dublin, Ireland — 1.5%. As the country's economy continues to recover, those working in the capital of the Republic of Ireland are earning more to afford a luxury property.
20. Geneva, Switzerland — 1.7%. The Swiss city is one of the most expensive cities to live in and property prices, especially in the luxury market, are continuously high.
19. Bengaluru, India — 1.8%. The city, also known as Bangalore, is a growing tech hub for the country where more and more people are earning healthy wages to buy a prime property.
18. Madrid, Spain — 2.1%. Overall, the city has seen a rise in prices across the year but Knight Frank points out that over the last six months price growth has fallen, signalling a potential wane over the next few months.
17. New York City, USA — 2.3%. As one of the key cultural and financial hubs in the US, NYC's property prices are on the rise. However, Knight Frank said that price growth is slowing because "cash buyers now have to comply with new transparency rules above set price thresholds," which means there are fewer buyers in the market right now.
16. Mumbai, India — 2.8%. The city is home to some of the wealthiest people in the whole of India and the prime residential market is seeing increased demand.
15. Nairobi, Kenya — 3.3%. The city is Kenya's busiest economic hub and wealthy business people are buying up luxury homes across the region.
14. Miami, USA — 3.8%. The city on the Atlantic coast is seeing a slowdown in prime residential property price growth much like NYC.
13. Guangzhou, China — 4.1%. The sprawling port city is an epicentre for mass employment and wealthy locals are snapping up prime properties across the region.
12. Seoul, South Korea — 4.4%. The country's capital is the economic powerhouse for South Korea and is fast growing as a tech and finance hub — drawing in some of the biggest companies in the world.
11. Monaco — 4.9%. The rich person's playground is seeing no slowdown in price growth as the microstate continues to house some of the wealthiest people in the world due to its favourable tax conditions.
10. Los Angeles, USA — 5.1%. As one of the world's most sought after locations for the rich and famous, LA is seeing a continual upward trend in property price growth.
9. Jakarta, Indonesia — 5.1%. The emerging market is drawing in more and more foreign direct investment and is growing as an economic hub for developing Asia.
8. Singapore — 5.4%. The island nation is notoriously short of space and therefore the property market is constrained and is boosting prices across all types of homes.
7. Beijing, China — 5.9%. The economic hub for China is proving to be a sought after location for workers and, in turn, is pushing up prices for luxury properties due to the number of wealthy people snapping up homes in the country's capital.
6. Bangkok, Thailand — 6.3%. The Thai city is one of the world's most popular tourist destinations and those looking for a plush holiday home are pushing up local prices in prime properties.
5. Cape Town, South Africa — 6.9%. Prices may have jumped over the last year but Knight Frank's ranking shows that price growth is slowing.
4. Melbourne, Australia — 12.1%. Prices in the city have shot up despite the country imposing a new fee for foreign buyers.
3. Sydney, Australia — 12.3%. Knight Frank said "Australasia proved the world’s hottest world region in the year to March 2016 with prices rising 12% on average."
2. Shanghai, China — 20.3%. "Record-low interest rates and cheap finance fuelled demand in Shanghai. However, in March the government tightened mortgage lending rules which is likely to result in slower growth in the second quarter," said Knight Frank.
1. Vancouver, Canada — 26.3%. The city has led Knight Frank's rankings for the fourth consecutive quarter due to "severe lack of supply is creating an upward pressure on prices."
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