THE CITY WITH THE MOST LUXURY HOME SALES IS…
WRE News July 22, 2023
Main
WRE News July 22, 2023
Main
The capital of the global luxury home market during the first quarter of this year was Dubai, according to a new data analysis from the real estate consulting group Knight Frank.
Working with the definition of luxury homes being residences costing $10 million and up, Dubai saw 92 luxury home deals closed in the first three months of 2023, resulting in $1.7 billion in transactions. The UAE city was far ahead of the other major centers for luxury housing during this period: Hong Kong totaled 67 transactions worth $988 million, New York had 58 deals worth $942 million and London saw 36 sales with a combined value of $736 million.
“Dubai’s luxury homes market continues to attract the attention of the world’s wealthy,” said Faisal Durrani, head of Middle East research at Knight Frank, who noted many of the residences sold in that market were second homes.
Knight Frank is forecasting that high-net-worth individuals from around the world will spend $2.5 billion on Dubai properties this year.
Stay up to date on the latest real estate trends.
Lifestyle
January 13, 2025
As harrowing and out-of-touch as show business can be, celebrities’ most-relatable sides are exposed in the bonds they share with their pets.
Buyer
January 13, 2025
Ferguson Partners, the Chicago-based talent management and strategic advisory firm for the real estate sector, announced the results of its first Artificial Intelligen… Read more
Lifestyle
January 13, 2025
The best all-inclusive resorts in Cancun inspire travelers to return to this lively beach destination year after year, and it’s not hard to see why.
Buyer
January 13, 2025
Experts say rates will come down slightly in the year ahead – but some volatility is expected.
Buyer
January 13, 2025
Buyer
January 12, 2025
If 2024 was the year of color in home design, 2025 will be the year of bold choices.
We Guide Homeowners through the complicated process of selling their home using our 4 Phase Selling Process and 3 Prong Marketing Strategy that alleviates their stress and moves them effortlessly to their next destination. Schedule a 15 Minute Complimentary Strategy Session Today