The Most Luxurious Global Property Market Is …

May 24, 2018

Homebuyers with more than a few dollars, euros or bitcoin laying around may want to consider looking for property in Hong Kong, which was named the world’s most luxurious global residential market for the second consecutive year by Christie’s International Real Estate.

Worldwide luxury residential sales recorded robust 11 percent annual growth in 2017. Hong Kong’s prime ranking was followed by New York, London, Singapore and San Francisco, and two North American cities topped Christie’s “luxury thermometer”: Victoria, British Columbia, was named the hottest primary market and Santa Fe, N.M., was named the hottest second-home market.

As for getting a foothold in the local luxury housing market, Monaco led the world with a $10 million starting price for luxury residential property. The global average, in comparison, was a mere $2 million.

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Phil Hall

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May 24, 2018

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