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
December 4, 2024
Once the celebrations wind down, you’ll be left wondering what to do with all the extra food and treats piling up.
Lifestyle
December 4, 2024
Even the biggest travel fiends will admit that a busy travel schedule can leave you feeling more tired and in need of a vacation than before you actually left on vacat… Read more
Seller
December 4, 2024
A lot of people assume spring is the ideal time to sell a house.
Buyer
December 4, 2024
Lifestyle
December 3, 2024
Amid the holidays brimming with social events, gift-giving can sometimes be a mad scramble.
Lifestyle
December 3, 2024
There have been many food trends that have taken off on TikTok: There was the sleepy girl mocktail—a mixture of magnesium, seltzer, and tart cherry juice—scrambled pan… Read more
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