"While cities are still in vogue, global capital value growth slowed during the second half of 2022. The prime rental markets, however, told a different, more positive story"

"Following two years of staggering growth, the prime residential markets are set to slow in 2023. Of the 30 major global cities in the index, 17 will record slower capital value growth than in 2022. However, 13 cities are forecast equal or even slightly enhanced growth in 2023, and rental markets will remain a bright spot"

"Positive capital value growth continued throughout 2022, with average increases of 3.2% across the 30 cities in the index. However, rising interest rates and negative sentiment took a hold in the second half of the year"

"Rents outpaced capital values last year, increasing by an average of 5.9% in 2022, and bringing total growth to 10% in the last two years"

"On average, prime residential gross yields have remained stable at 3.0% in 2022. Yields have largely held steady since December 2020, fluctuating by just 10 bps during the pandemic"

"In an environment of rising interest rates, the costs associated with buying, holding and selling a prime residential property are an important consideration"