Taipei property prices now 7th highest globally
The price of prime residential properties in Taipei has climbed almost 19% in the third quarter of the year - and that sees the city ranking in 7th place globally - that according to the latest Prime Global Cities Index.
The index is published by the real estate consultancy Knight Frank.
The valuation-based index tracks the price movement of prime properties across more than 45 cities worldwide.
And it shows Taipei moving up three notches from the previous quarter – as with housing prices rose by a quarterly 18.9%.
According to Knight Frank, Taipei's rise in the rankings means that the central bank's mortgage limits for prime residential properties are not reflected in the market.
Miami led the index with a 26.4% year-on-year rise in property prices in the third quarter while only Seoul and Shanghai were ranked higher than Taipei in Asia.