The 21 cities where prime property prices exploded the most

Advertisement

Sydney Skyline

Getty Images

Sydney had one of the highest prime residential value growth rates on the list.

Property prices in London have exploded over the last few years but there are a number of cities that are experiencing such a massive surge in growth that they make prices in Britain's capital look paltry.

Advertisement

In fact, there are some cities across the globe where prices have rocketed by over 25% in the last 12 months, according to Knight Frank's latest Prime Global Cities Index report.

This is the case for prime residential properties - which refers to the top 5% of the wider housing market in each city.

Four of the top cities recorded double digit price growth, which Knight Frank put down to low supply, combined with record-low interest rates.

Prime prices in the top 35 cities increased an average of 3.6% in the the twelve months up to March 2016, but London didn't make the top 21 - prime residential prices in that city only increased 0.8%.

Advertisement

Check out the list below: