New York has become the world leader in the sale of ultra-expensive real estate
'02.08.2021'
Nurgul Sultanova-Chetin
New York, Los Angeles, Hong Kong, London, Sydney, Singapore and Dubai are cities where 785 properties have been sold since the beginning of the year at prices exceeding $ 10 million each. This is reported by the edition MinFin.
The data shows that prices have risen, and this number is twice the number of expensive homes sold in these cities in the same period of 2020 (the figures for 2019 were 52% lower).
The amount of investments in luxury real estate
The total investment in ultra-expensive real estate of wealthy buyers in the first six months of 2021 was $ 13,8 billion.
“We expect super-sales in the prime segment in 2021 to end at a high level,” said Liam Bailey, head of research at Knight Frank.
New York is leading in the growth of purchases of ultra-expensive housing: 6 objects of such real estate were purchased here in 202 months. A penthouse in a skyscraper at 432 Park Avenue was recently put up for sale there. Its cost is $ 169 million.
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According to a study by the Corcoran Group, 220 penthouses have already been sold in Manhattan this year. Miller Samuel of Douglas Elliman brokerage company compiled a real estate appraisal report. It shows that the average price of apartments in Manhattan in the second quarter of this year reached a record $ 999.
Sales leaders
New York is the leader among the cities with the highest growth in luxury real estate sales. He is inferior Los Angeles... Three times more transactions worth more than $ 10 million were registered there for six months than a year earlier.
В Singapore 119 objects of expensive residential real estate were sold in six months.
This is followed by: Hong Kong - 111, London - 106, Sydney - 54, Dubai - 22 objects.
Market growth
But such rapid growth in the luxury real estate market is not only related to the corresponding lifestyle.
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The fortunes of the 2755 billionaires on the Forbes list grew from $ 8 trillion in 2020 to $ 13,1 trillion in the 20th and 21st. The threat of inflation forces wealthy people to look for where to safely invest their money.
Half of investors surveyed by the financial holding UBS in the second quarter believe that inflation will accelerate in the next 12 months. A third of investors are planning to invest more in real estate in this regard.
