How are the international prime property markets performing, and what are the chief drivers of performance? Which are the “hottest” luxury primary and second-home markets?
Luxury Defined, Christie’s International Real Estate’s sixth annual white paper, seeks to answer these questions and provide exclusive insights into the world’s greatest luxury property markets. By synthesizing the data of over 80 luxury real estate brokerages around the globe, Luxury Defined offers crucial observations and statistics that are invaluable for understanding today's international prime residential property market.
- Worldwide luxury residential sales recorded a robust 11% annual growth in 2017
- Hong Kong ranked as the world’s most luxurious housing market, followed by New York and London
- The “hottest” ranking luxury primary housing market in the world is Victoria, British Columbia, with strong year-on-year luxury sales volumes and high domestic demand
- Santa Fe, New Mexico, is the “hottest” luxury second-home market, reaching sales volumes of million-dollar-plus homes not seen since pre-crisis years.