A study by Swiss research group CIES Football Observatory has found that Brazilian star Neymar is worth €28.4m (NZ$46.3m) more than what was paid for him by French club Paris Saint-Germain.

The research company specialises in the scientific estimation of a player's value in the football transfer market.

Their newest data release ranks the footballers from Europe's big five leagues - Premier League (England), La Liga (Spain), Bundesliga (Germany), Serie A (Italy) and Ligue 1 (France) - based on whose transfer value has increased the most since July.

The study shows that the transfer value of Neymar, the world's most expensive footballer of all-time, has augmented to €239.6m (NZ$$390m), a €28.4m (NZ$46.3m) increase on the fee that Ligue 1 table-toppers PSG paid for him to leave La Liga leaders Barcelona in August.

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Since his transfer from the Catalan giants, Neymar has flourished in the French capital, averaging a goal per game in eight appearances for the six-time Ligue 1 winners in both the French league and in the Champions League.

Despite the astronomical transfer value of the 25-year-old, he is only ranked sixth on the list devised by CIES Football Observatory, with five other players earning a larger increase in their transfer worth.

Topping the list is Belgian striker Romelu Lukaku, whose value has rocketed to €158.5m (NZ$258.3) - a €55.8m (NZ$91m) increase on the transfer fee paid by Premier League powerhouses Manchester United to acquire his services from Merseyside club Everton.

Teenage sensation Kylian Mbappe comes in at second place, with the Frenchman's value inflating by €50.4m (NZ$82.2m) to a whopping €145.8m (NZ$237.7m) following his loan move to PSG from reigning French champions Monaco.

Juventus striker Paulo Dybala (+NZ$77.1m), injured Barcelona winger Ousmane Dembele (+NZ$73.4m), and Liverpool midfielder Alex Oxlade-Chamberlain (+NZ$51.7m) all placed higher on the list than Neymar.

The top ten is rounded out by Manchester City star Kevin De Bruyne (+NZ$42.1m), English starlet Marcus Rashford (+NZ$41.7), new Liverpool wing Mohammed Salah, and young Italian goalkeeper Gianluigi Donnarumma (both +NZ$41.1m).

FOOTBALL OBSERVATORY TOP 10 TRANSFER VALUE RISES
Transfer value trend since July 1, 2017, in €million

1. Romelu Lukaku (Manchester United) 102.7 to 158.5 (+55.8)
2. Kylian Mbappe (Paris Saint-Germain) 95.4 to 145.8 (+50.4)
3. Paulo Dybala (Juventus) 113.7 to 161 (+47.3)
4. Ousmane Dembele (Barcelona) 92.5 to 137.5 (+45)
5. Alex Oxlade-Chamberlain (Liverpool) 27 to 58.7 (+31.7)
6. Neymar (Paris Saint-Germain) 211.2 to 239.6 (+28.4)
7. Kevin De Bruyne (Manchester City) 105.7 to 131.3 (+25.8)
8. Marcus Rashford (Manchester United) 71.8 to 98 (+25.6)
9. Mohammed Salah (Liverpool) 72.8 to 98 (+25.2)
= Gianluigi Donnarumma (AC Milan) 39.9 to 65.1 (+25.2)