THE ADDRESS Magazine Summer 2014 - Page 318

Meanwhile, demand for trophy properties will continue to outstrip supply, ensuring continued growth in value. No wonder, then, that luxury residential real estate continues to be perceived as a safe haven for investors. Prognosticators are keeping a close watch on the U.S. Federal Reserve, the Bank of England and the European Central Bank before determining what they expect the future to bring, but all know interest rates will rise eventually. Hefty price increases recorded in Dubai Shaped by fame, fortune and real estate: the world’s top cities International real estate consulting firm Knight Frank is reporting that their “Global House Price Index” has risen for eight consecutive quarters through the first three months of 2014. Yet the rate of price growth slowed. Globally growth in the first quarter of 2014 was up only 0.6% compared to 1.2% last quarter, yet the index still recorded annual growth of 7.1%. Dubai leads the pack, where real estate prices rose 27.7% in the year ending in March. Typically, house prices rise more slowly at the beginning of the year as end-of-year buyers often rush to complete deals ahead of changes in publ