International property consultant JLL's latest Residential Sales Market Monitor report shows Hong Kong's luxury residential capital values saw a 0.8% rebound q-o-q in the first quarter of 2021 after dropping 8.2% in 2020, while luxury rents remained largely flat with a mild drop of 0.2% q-o-q; both recorded the best performance since the second quarter of 2019.
Brexit and weak pound helped London leapfrog Hong Kong and New York in 2020
International property consultant Knight Franks' Liam Bailey, Global Head of Research, is reporting this week that the world's ultra-wealthy spent almost $4 billion on super-prime properties ($10m+) in London last year, more than any other city.
Luxury spec homes rarely surprise me anymore. After 10 years in Dubai real estate and two years in Los Angeles I have seen many, many "dream homes" with multi-million-dollar price tags. Walk-in closets that look like boutiques on Rodeo Drive, infinity pools that spill over hills with skyline views and swanky garages that display limited-edition super cars like the Louvre displays art are now commonplace in the modern world McMansion.
According to the Miami Association of Realtors, Palm Beach County total home sales increased in February 2021 as pent-up demand and record-low mortgage rates continue fueling transactions.
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