Luxury Rents Across 30 Global Cities Outpace Prime Sales Prices

The growth of luxury rental prices outpaced the sales market in top global cities last year, according to a report Monday from Savills.

Average prime rental values jumped by 5.9% in 2022 across the 30 world cities analyzed in the report, the data showed. Limited inventory and increased demand pushed rents higher, while capital values saw an average of 3.2% rise during the year.

“Rental growth came as people continued to return to cities after the lifting of pandemic-related restrictions, and as rapidly rising interest rates in the latter half of 2022 meant that more people chose to rent,” Lucy Palk, an analyst at Savills World Research, said in a statement. “The rebound in international travel was a factor too, by the end of 2022 international arrivals had recovered to between 75% to 80% of 2019 levels.”

Meanwhile, average rents were up 10% or more in cities such as Singapore, New York, Dubai and Lisbon, Portugal, the report said.

For example, in New York, the median rent for properties in luxury, doorman buildings spiked 53% to almost $5,000 at the end of last year compared to $3,270 in December 2020, the figures showed.

And in Singapore, prime rents shot up by 26.2% annually as the country opened its borders and students, expats and high-net-worth individuals flooded the city. “Delayed completions of new prime stock further contributed to the significant rental rise seen in 2022,” the report said.

Climate, quality of life and strong business environments have been big draws for Lisbon and Dubai last year, where luxury rents were up 25.4% and 22.9%, respectively, according to the report.

The two strongest performing cities in the Asia Pacific region last year were Seoul, with 4.9% rental price growth, and Tokyo, 4.1%, the data showed.

On the flip side, Hong Kong had the lowest rental growth for luxury properties. The country is still subject to Covid-19-related restrictions, and has yet to see the full return of international tenants. In addition, rising interest rates have undermined consumer confidence.

“This suppressed transaction volumes causing pricing declines across all price brackets except the ultra-prime residences,” the report said. “Average prime prices fell by 8.5% in 2022.”

From late 2026 and into 2027, PONANT Explorations Group will base two ships in French Polynesia, offering travellers a choice between a culturally immersive classic and a far more exploratory deep-Pacific experience.

The move builds on more than 25 years of operating in the region with the iconic m/s Paul Gauguin, while introducing the expedition-focused Le Jacques Cartier to venture into lesser-known waters.

Together, the two vessels will cover all five Polynesian archipelagos — the Society, Tuamotu, Austral, Gambier and Marquesas Islands — as well as the remote Pitcairn Islands.

THE PAUL GAUGUIN: CULTURAL IMMERSION, POLYNESIAN STYLE

Long regarded as the benchmark for cruising in French Polynesia, m/s Paul Gauguin will remain based year-round in the region.

Renovated in 2025, the ship continues to focus on relaxed, culturally rich journeys with extended port stays designed to allow guests to experience daily life across the islands.

A defining feature of the onboard experience is the presence of the Gauguins and Gauguines — Polynesian hosts who share local traditions through music, dance and hands-on workshops, including weaving and craft demonstrations.

The atmosphere is deliberately intimate and internationally minded, catering to travellers seeking depth rather than distance.

Across the 2026–27 seasons, the ship will operate 66 departures, primarily across the Society Islands, Tuamotu and Marquesas, with select voyages extending to Fiji, Tonga and the Cook Islands.

LE JACQUES CARTIER: EXPLORATION AT THE EDGE

Le Jacques Cartier introduces a more adventurous dimension to PONANT’s Polynesian offering, with itineraries focused on the least visited corners of the South Pacific.

The ship will debut three new “Discovery” itineraries, each 14 nights in length, which can also be combined into a single, extended 42-night voyage — the most comprehensive Polynesian itinerary currently available.

In total, the combined journey spans six archipelagos, 23 islands and the Pitcairn Islands, a British Overseas Territory rarely included on cruise itineraries.

Unlike the Paul Gauguin’s cultural focus, Le Jacques Cartier centres on exploration.

Each day includes one guided activity led by local experts, with excursions conducted via tenders, local boats and zodiacs. Scuba diving is available on board, supported by a resident instructor.

Across the 2026–27 period, the ship will operate nine departures, offering a deliberately limited and low-impact presence in some of the Pacific’s most isolated communities.

THREE NEW DISCOVERY ITINERARIES

The new itineraries aboard Le Jacques Cartier include:

– Secret Polynesia: Unexplored Tuamotu, the Gambier Islands and the Austral Islands
– From Confidential French Polynesia to Pitcairn Island
– Polynesian Bliss: Marquesas and Tuamotu

Each voyage departs from Papeete, with prices starting from $15,840 per person.

SCOUTING THE PACIFIC’S MOST REMOTE COMMUNITIES

In preparation for the new itineraries, PONANT Explorations Group undertook extensive scouting across the Austral and Tuamotu Islands to develop activities in collaboration with local communities.

José Sarica, the group’s R&D Expedition Experience Director, worked directly with residents to design experiences including welcome ceremonies, cultural workshops and visits to marae, the region’s sacred open-air temples.

Six new ports of call have been confirmed as part of this process, spanning both the Tuamotu and Austral archipelagos.

SIX NEW PORTS OF CALL CONFIRMED

New stopovers include:

– Mataiva, known for its rare mosaic lagoon
– Hikueru, home to one of the largest lagoons in the Tuamotus
– Makemo, noted for its red-footed boobies and frigatebirds
– Raivavae, famed for its crystal-clear lagoon pools
– Tubuai, rich in marae and spiritual heritage
– Rurutu, known for limestone caves and seasonal humpback whale sightings

A DUAL EXPERIENCE, ONE DESTINATION

By pairing its long-established cultural voyages with expedition-led exploration, PONANT Explorations Group is positioning French Polynesia not as a single experience, but as two distinct journeys — one grounded in tradition and comfort, the other pushing into the furthest reaches of the Pacific.

For travellers seeking either immersion or discovery, the South Pacific is about to feel both familiar and entirely new.