Knight Frank’s Prime Global Rental Index increased by 0.5% in the year to June 2016. Taimur Khan, senior research analyst at Knight Frank, says of the Index results: “Of the 17 cities tracked by the index, ten saw prime rents rise in the 12 months to June 2016.”

Knight Frank’s Prime Global Rental Index, which tracks the change in luxury residential rents across 17 cities globally, recorded annual growth of 0.5% in the year to June 2016. The number of cities where rental growth has increased rose from seven in the previous quarter to ten this quarter.

Moscow holds the top spot, with prime rents rising by 11.1% year-on-year. Sizable infrastructure investments in the city, combined with a marked slowdown in the contraction of the national economy and substantial gains in oil price over the last quarter have underpinned rental growth.

Nairobi continues to be the weakest performing market with prime rents falling by 9.2% annually. Since Q3 2011 Nairobi has recorded annual prime rental growth of 9.7% on average, the market is now looking to rebalance.