Share this report: [social_share style=”circle” align=”horizontal” heading_align=”inline” facebook=”1″ twitter=”1″ google_plus=”1″ linkedin=”1″ pinterest=”1″ /]
If you are a owner, a seller or buyer, a luxury real estate agent or a luxury real estate broker, a financial adviser, a journalist, a estate lawyer, a wealth manager or simply interested in what is happening today in the Global Luxury Residential Real Estate Market, YOU MUST READ THIS REPORT !
Now in its third year, Luxury Defined presents an in-depth analysis of the shaping the luxury residential real estate market globally. This year’s report ranks the world’s top 10 cities for prime property and analyzes more than 70 key regional markets worldwide, offering a fresh and comprehensive look at global activity and correlated values.
The scope of the white paper, which includes the collective insights and quantitative data from the Christie’s International Real Estate network, has been widely broadened this year and establishes new benchmarks to further explore and define the dynamics and drivers impacting high-value asset classes (from fine art to real estate).
KEY FINDINGS INCLUDE:
- 2014 welcomed a return to normality in most major cities with growth showing signs of stabilizing in locations such as Paris, New York and Sydney.
- Toronto ranked as the world’s ‘hottest’ luxury market, and was the only Global Economic Hub city to see a faster year-on-year pace with a 37 percent increase in luxury home sales.
- Second home markets led the growth of high-value sales in 2014, with ‘Jet set destinations’ recording on average a 28 percent year on year increase.
- International second home buyers are driving market growth, particularly in Marrakech and Turks & Caicos where 100 percent of top end purchasers are from overseas.
- Dubai ranks as the most popular city for second home purchases amongst global HNWIs, who accounted for 75 percent of sales
- “Trophy” is the new buzz-word in luxury real estate. More properties than ever before were both sold and listed for sale at US $100 million or higher in 2014.