Categorized | Residential

Luxury Property Market Remains Strong Around the World

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The luxury residential real estate market continues to show signs of growth around the world, as many of the world’s wealthiest individuals are investing in real estate. Billionaires are investing in prime city properties more than ever, and as such, major cities like New York, London, and Paris continue to experience increases in value in their most luxurious residential property sectors.

 

Ultra-prime residential property values in New York City have increased by more than fifteen percent since the middle of 2011. Similar properties in London and Paris have increased by as much as four percent during the same time period. Only in Hong Kong did ultra-prime properties experience a decline in value.

 

Much of the growth in the ultra-prime real estate values in all of the major cities can be attributed to international billionaires, particularly from Russia, China, Brazil, and Argentina.

 

The majority of the ultra-prime property that has been purchased in the last year by these billionaires is located in major cities around the world, and is likely going to be used as a home during business travel. Those ultra-prime properties that were purchased in areas outside of the major cities are likely to be used for vacation purposes.

 

New York has been the hottest ultra-prime market in the last six months, as international investors are likely looking to take advantage of low prices now before there is a big spike. Singapore also showed very strong signs of growth in the past six months, with ultra-prime property values jumping nearly fourteen percent.

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About Ella Jourgeson

Ella was recently an intern who checked all the articles for grammatical and spelling errors. She is now an all purpose writer filling in wherever we need help.

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