looked at 20 major luxury residential property markets around the world and found that only four will see price growth in 2020.Visit Business Insider's homepage for more storiesThe coronavirus pandemic has put a halt to activity in major luxury housing markets all over the world.
Now, of the 20 major luxury markets Knight Frank analyzed, only four are expected to see prime price growth for th remainder of 2020. Those four are Lisbon, Monaco, Shanghai, and Vienna, and they are expected to grow just slightly, between 0.1% and 4.9%. "Of the 20 cities Knight Frank has analyzed, 16 of these will see prime price declines in 2020, with only a handful avoiding a fall into negative territory – either because of historic supply shortages or because transactions were able to continue during lockdown and these measures are already being eased," Bailey stated.