Douglas Elliman And Knight Frank Residential Release Joint Wealth Report Supplement

NEW YORK, Sept. 10, 2014 /PRNewswire/ -- With the launch of a new global alliance between Douglas Elliman and Knight Frank Residential, a first of its kind co-branded Wealth Report supplement has been released. The report outlines how the globalization of economic activity, wealth and investment is shaping the world's leading residential markets. Knight Frank's eighth annual 2014 Wealth Report confirmed the cities which are the most important to the world's wealthy, with New York and London heading the list. For Asia, Hong Kong is the regional city leader in this ranking.

Liam Bailey, head researcher at Knight Frank Residential and author of the 2014 Wealth Report Supplement, said  "While investors will always look for value and opportunities in less mature markets, our experience, throughout the relatively extreme market cycle over the past decade, is that a substantial portion of global residential investment remains focused on the key city markets."

Key Findings:

• A number of key global cities are seeing an increasingly close correlation in the performance of their prime housing markets.
• New York and London are set to remain the key global city economies over the next decade, attracting growing investment in their respective prime housing markets
• Asia's leading cities for inward investment in prime residential property are Hong Kong and Singapore. Beijing and Shanghai will become more important over time
• Los Angeles, Miami, Paris and Dubai, are all markets experiencing similar trends—with growing residential market globalization—in terms of funding, purchase, development and investment.

The flows of wealth, economic activity and migration mean that the world's leading business and financial centers are seeing property markets increasingly moving together. Two of these critical city markets are London and New York and this report has found that the prime markets in both cities share a closer correlation between the rate and direction of residential property price change than they do with their respective national markets.

One of the more high-profile property trends currently taking place in locations such as Central London, downtown Los Angeles and Manhattan, is the growing presence of large Chinese, Indian, and other emerging market developers, who are competing to buy the best available residential development sites. Wealthy residents from emerging market economies are increasingly traveling to, working in, being educated in and investing in these top tier cities, making a growing synergy between the economies and the prime residential property markets.

The report brings together three leading experts who share their thoughts on the outlook for New York, London and Hong Kong, the three regional city leaders: Jonathan Miller, President/CEO of Miller Samuel, Tom Bil, Head of London Research, Knight Frank and David Ji, Head of Research & Consultancy, Knight Frank Greater China.

For more information on the 2014 Douglas Elliman Knight Frank Residential Wealth Report Supplement on Prime Global City Markets, go to http://www.thewealthreport.net/

For more information, and additional media inquiries, please contact Scott Cooke, GCK Partners, [email protected] (212) 488-1081

ABOUT DOUGLAS ELLIMAN REAL ESTATE
Douglas Elliman Real Estate is New York's largest residential brokerage, with over 70 offices in New York City, Long Island, the Hamptons, Westchester/Putnam, Los Angeles, and South Florida and more than 5,000 real estate agents and a network of national and international affiliates. They have a strategic global alliance with London-based Knight Frank LLP for residential business in all of their markets. Douglas Elliman ranked in the top four of all real estate companies in the nation in 2007, 2008, 2009, 2010, 2011, 2012, 2013 and 2014. The company also controls a portfolio of real estate services, including Manhattan's largest residential property manager, Douglas Elliman Property Management, as well as DE Title and DE Capital Mortgage. For more information on Douglas Elliman as well as expert commentary on emerging trends in the real estate industry, visit the Douglas Elliman site at www.elliman.com

ABOUT KNIGHT FRANK RESIDENTIAL
Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, Knight Frank and together with its New York-based global alliance partner, Newmark Grubb Knight Frank, operate from over 370 offices, in 43 countries, across six continents and has over 13,000 employees. The Group advises clients ranging from individual owners and buyers to major developers, investors and corporate tenants. For further information about the Company, please visit www.knightfrank.com.

SOURCE Douglas Elliman Real Estate