Luxury residential rents rose faster than sales prices in 2023

  • Luxury residential rents outperformed capital values in 28 of the 30 cities tracked in the Savills World Cities Index
  • On average, luxury rents increased by 5.1% in 2023, compared to average home price growth of 2.2%
  • Lisbon saw the highest rental growth, with luxury rents increasing by 39% over the year
  • Singapore led the Asia-Pacific region with rental growth at 12.3%
  • A slight increase in luxury rents is expected across the 30 global cities in the year ahead

Luxury residential rents remained strong globally in 2023, outperforming capital values in 28 of the 30 cities tracked in the Savills World Cities Index. On average, luxury rents increased by 5.1% last year, compared to the average home price growth of 2.2%. Lisbon saw the highest rental growth, with luxury rents increasing by 39% over the year. Singapore led the Asia-Pacific region with rental growth at 12.3%. A slight increase in luxury rents is expected across the 30 global cities in the year ahead.

Public Companies: Savills (N/A)
Private Companies:
Key People: Kelcie Sellers (Associate at Savills World Research)

Factuality Level: 7
Justification: The article provides information about luxury residential rents globally and cites a report from Savills World Cities Index. It includes quotes from an associate at Savills World Research and provides specific data on rental growth in Lisbon, Singapore, and Hong Kong. The article also mentions a forecast for rental growth in Amsterdam. Overall, the article seems to be based on factual information and sources, but it lacks additional context and analysis.

Noise Level: 3
Justification: The article provides relevant information about luxury residential rents globally and includes data on rental growth in different cities. It also explains the factors driving the rental market and predicts future trends. However, the article contains some filler content, such as the mention of text-to-speech technology and a link to another unrelated article.

Financial Relevance: Yes
Financial Markets Impacted: Luxury residential rental market

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the performance of luxury residential rents globally, indicating the relevance to financial topics. However, there is no mention of any extreme events or their impact.

Reported publicly: www.marketwatch.com