Screenshot 2015-11-05 at 11.56.55 AM

The luxury real estate market is slowing worldwide, with weakness in Europe and Russia weighing on prices, according to a new report. But as Chinese investors continue to seek investments outside of their home country, cities drawing interest from these buyers are outperforming the broader market.

The Knight Frank Prime Global Cities Index, which measures the market for the top 5 percent of real estate prices in 34 major cities, increased by just 1.9 percent in the first nine months of 2015.