The rate of increase in global prime home prices has slowed.

According to Knight Frank, worldwide luxury residential prices stagnated in the third quarter, registering the slowest quarterly gain since 2012. discount

Prime property prices grew 1.2 percent in the third quarter compared to the previous quarter in all 27 locations tracked by the firm.

The third quarter, on the other hand, is consistently the lowest for the worldwide home price index, according to the firm.

In the report, Kate Everett-Allen, worldwide residential research, said, "The slowdown can be largely ascribed to reduced sales activity in the summer months and this year to the time of Ramadan."

The survey shows that global cities have had robust yearly price rise, with prime property prices rising by an average of 6.6 percent in the year to September, the highest increase since the third quarter of 2010.

Despite the Chinese government's different housing policies, home price rise continues to outperform predictions, according to the business. In the third quarter, home prices in Beijing grew by 7.9%, the highest quarterly gain among all cities.

Jakarta's real estate market is Asia's hottest, with top housing prices continuously outpacing worldwide growth. Home prices increased by 27.2 percent in the third quarter. Dubai, Beijing, Bangkok, and Tokyo are the next cities on the list.

On the other hand, with a yearly fall of 7.7%, Rome led the pack; Singapore, Paris, Geneva, and Zurich rounded out the bottom five.

In the last 12 months, average luxury prices in the Middle East climbed by 13.1 percent, making it the region with the best performance.

According to the business, the prime global cities index is presently 31% higher than its bottom in the second quarter of 2009.

"With the Eurozone crisis abating, economic confidence rising - particularly in major markets such as the United States, the United Kingdom, and Germany - and financial markets delivering little return," Ms. Everett-Allen said, "the hunger among the world's elite for luxury bricks and mortar is growing."