2025年第三季度全球主要租赁指数

knightfrank.co.uk/research Knight Frank’s Prime Global Rental Index provides a quarterly snapshotof trends in luxury lettings markets across 16 key world city markets. 2025 Q3 Edition Global rents are ticking higher 3.4%overall nominal annual growth in Q3 2025 The global luxury rental market strengthened further in Q3.Rental growth averaged 3.4% across our 16-city index in Q3 1.3%overall real annual growth in Q3 2025 and relocations. Elsewhere in Asia-Pacific, Sydney continues to recordrobust rental growth, reflecting strongpopulation gains and a steady influx ofnew tenants. Singapore has also seen THE GLOBAL VIEWThe unwinding of the pandemic rental boom saw annual global prime rentalgrowth fall from 10.7% in Q1 2022 toa low of 2.3% at the end of 2024, as Tokyofastest-growing market, up 9.6% year-on-year Since the beginning of 2025,momentum has shifted upward, withTokyo (+9.6%), New York (+7.8%), and Across Europe, rental marketsremain resilient. In Zurich, conditionsare still extremely tight, with new-lease rents continuing to edge higheramid very limited supply. Thisstructural undersupply, set againststrong demand, is maintainingupward pressure on rents despitea softer macroeconomic backdrop.Frankfurt has seen rents rise by nearly With the exception of Tokyo, whereprime house prices are currently risingby more than 50% per year, mostmarkets in our basket have experienceda recent slowdown in price growth as London rents are also increasing,supported by strong tenant demandand constrained stock. Prime CentralLondon average gross yields havereached 4.5%, the highest since June2006. However, landlord supply CITY ANALYSISManhattan’s rental market remains defined by very low vacancy and near-record pricing, with inventory fallingfor the eighth consecutive month In Hong Kong, rents have risen 6%year-on-year, reaching record highs due “Global luxury rents are outpacing inflation again as tight supply, strong demandconspire to test the limits of affordability across world cities.”Liam Bailey, Knight Frank’s global head of research Real vs Nominal annualrental growth PGRI annual growth, 15 city average We like questions, if you’ve got one about our research, or would like some property advice,we would love to hear from you. Keep up to speed with global housingmarkets with our monthly internationalresidential newsletter Astrid Recaldin+44 20 7861 1182astrid.recaldin@knightfrank.com Liam Bailey+44 7919 303 148liam.bailey@knightfrank.com SIGN UP ONLINE