The “Super Talls” and the Impact of New-build Inventory on Prime Markets
Years of record-breaking price increases, bidding wars due to limited luxury inventory, and strong international buyer interest resulted in a flurry of new ultra-luxurious buildings from developers eager to capitalize on ever-growing demand. 2015 was the apex of the new development blitz globally. The world’s 100th “super tall” skyscraper opened in New York this January, following the development of more than 50 skyscrapers between 2010-2015, many outfitted with ultra-luxury…