Knight Frank and Douglas Elliman have teamed up to market US luxury listings to wealthy buyers around the world.

The high end estate agents said they will market more than $38 billion (£23.4 billion) of prime and super-prime properties priced at $1.5 million across New York City, the Hamptons, Long Island, Westchester County (New York), South Florida and Los Angeles.

New York-based Douglas Elliman is the fourth largest residential brokerage in the US while London-based Knight Frank is the largest independent residential brokerage in the UK.

In announcing the agreement the two companies released a wealth report that found that New York and London are set to remain the key global city economies in the next decade.

"The property market has become increasingly global as the mobility of buyers increases; accordingly, there is now a wider selection of both investor origins and investment destinations," said Lord Andrew Hay, global head of Knight Frank.

"For agents, this trend dictates that it is essential to be best in class in both New York and London in order to provide high net worth clients with the most comprehensive service and access to the best properties globally."

The report also noted the trend of Chinese, Indian and other emerging-market developers competing to buy top-tier residential development sites in locations such as central London, Los Angeles and Manhattan.

This is a result of emerging-market buyers increasingly travelling, working, studying and investing in those cities, the report said.