India, Aug. 25 -- Hong Kong (8.6%) and Tokyo (8.3%) recorded the fastest annual rental growth. New York (6.9%) saw strong gains, with a significant 6.6% quarterly rise. European hubs like Berlin (4.9%) and Frankfurt (4.7%) maintained steady growth, the Index showed.

London (1.5%) and Singapore (1.5%), while lower on the index, continue to show resilience, supported by international demand and constrained new supply, it said.

Over the past five years, Miami has led prime-rental growth by a wide margin - surging 61% - driven by domestic migration and luxury demand. It is followed by New York, which saw a 47% rise underpinned by a post pandemic rebound in Manhattan rental demand, it said.

Asia-Pacific powerhouses Sydney and Singapore each...