- Surging demand pushes prime global residential rents to record highs.
- Rents in global luxury residential markets are continuing to see strong growth. The Knight Frank Prime Global Rental Index rose by 8.5% in the 12 months to March this year – with rents in a majority of markets hitting new records.
- 52% growth in prime rents in New York since the pandemic low (Q1 2021).
- 8 out of 10 markets are experiencing record rental levels.
- 14% – the amount that average prime global rents stand above the pre-covid peak.
- Governments are increasingly promoting investment in the build-to-rent sector as a solution to reduce rapid rises in rents.
- Knight Frank predicts that the build-to-rent sector will become the world’s largest investable real estate sector within the next ten years.
