{"id":184651,"date":"2017-07-11T14:47:21","date_gmt":"2017-07-11T12:47:21","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=184651"},"modified":"2017-07-11T14:47:21","modified_gmt":"2017-07-11T12:47:21","slug":"cape-town-outperforms-new-york-and-london-for-luxury-property-rental-growth","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/184651\/cape-town-outperforms-new-york-and-london-for-luxury-property-rental-growth\/","title":{"rendered":"Cape Town outperforms New York and London for luxury property rental growth"},"content":{"rendered":"<p>Despite indications that Cape Town&#8217;s property sector is cooling off, the luxury property market shows no signs of slowing, including rentals.<\/p>\n<p>Knight Frank\u2019s Prime Global Rental Index, which tracks luxury residential rents across 17 cities globally, recorded annual growth of 0.5% in the year to March 2017.<\/p>\n<p>The number of cities where prime rents have increased on an annual basis rose from six in the first quarter of 2016 to 12 in the first quarter of 2017.<\/p>\n<p>&#8220;Yet the general trend has been for steady, rather than spectacular growth,&#8221; the property group said.<\/p>\n<p>Cape Town leads the rankings with rents rising by 5.9% in the year to Q1 2017. &#8220;Growth has been underpinned by strong migration into Cape Town with potential buyers choosing to rent before committing to purchasing,&#8221;\u00a0Knight Frank said.<\/p>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2017\/07\/KnightFrank.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-184655\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2017\/07\/KnightFrank.png\" alt=\"\" width=\"576\" height=\"480\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2017\/07\/KnightFrank.png 576w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2017\/07\/KnightFrank-300x250.png 300w\" sizes=\"auto, (max-width: 576px) 100vw, 576px\" \/><\/a><\/p>\n<p>Prime rents in London continue to bottom out with the annual rate of falls slowing to -4.9% to March 2017. Uncertainty in the sales market following a series of tax hikes has led to an increased supply of properties for rent. However, this trend is starting to ease as the sales market stabilises, Knight Frank said.<\/p>\n<p>Some of the world\u2019s top financial centres have shown divergence in terms of the performance of prime rents. Annual rental values fell in New York (1.2%) and Singapore (2.3%) whereas Zurich and Hong Kong recorded a rise year-on-year of 5.1% and 0.6% respectively over the year to March 2017.<\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/wealth\/158615\/these-are-the-top-10-most-expensive-suburbs-to-rent-property-in-south-africa\/\" target=\"_blank\" rel=\"noopener\">These are the top 10 most expensive suburbs to rent property in South Africa<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite indications that Cape Town&#8217;s property sector is cooling off, the luxury property market shows no signs of slowing, including rentals.<\/p>\n","protected":false},"author":10,"featured_media":184657,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[26,7585],"class_list":["post-184651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-headline","tag-knight-frank"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/184651","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=184651"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/184651\/revisions"}],"predecessor-version":[{"id":184663,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/184651\/revisions\/184663"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/184657"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=184651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=184651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=184651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}