The international luxury real estate market appears to be relatively immune to economic headwinds, according to a report by Christie International Real Estate, a luxury real estate affiliate network. Christie’s International Real Estate Index monitors record sales prices, prices per square foot, among other indicators in the global luxury real estate market.
London emerged at the top of the network’s index, boasting a record sales price of more than $121 million for a residential property in 2012. In New York, an $88 million sale allowed it to come in at No. 2.
The international luxury market is showing strong momentum, “driven by scarcity of quality inventory and demand from international buyers in many of the world’s top destinations,” says Bonnie Stone Sellers, CEO of Christie’s International Real Estate.
There are more billionaires worldwide now than there were in 2008. What’s more, the percentage of worldwide millionaires has grown by 55 percent since 2000, according to the report.
As wealth has grown so has the number of home buyers making housing deals in all cash. For example, the report notes that nearly all of the transactions in Los Angeles above $5 million were cash deals; 90 percent in New York; and 70 percent in San Francisco and Miami.
Source: “Global luxury real estate market showing ‘strong momentum’,” Inman News (March 11, 2013)
$2,095,000 : 606 President Ford Ln, Alexandria 22302
5 beds, 5 full, 2 half baths
Living area: 7,399 sqft
Year built: 2018
Days on Market: 61
$1,100,000 : 301 W Glendale Ave, Alexandria 22301
4 beds, 2 full, 1 half baths
Living area: 1,900 sqft
Year built: 1939
Days on Market: 26
Julie NesbittJulie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.
Enjoying Winkler Botanical PreserveWe had a great time walking the trails.
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[FWD: The Empire Strikes Back Pictures]We played a game at the office this Sunday. Lots of fun. Sincerely, Will Nesbitt Principal Broker Nesbitt RealtyAlexandria VA licensed in the Commonwealth of Virginia and the State of Maryland 703 765 0300 (main) 571 237 7902 (direct)888 783 6391 (fax) ——– Original Message ——– Subject: The Empire Strikes Back Pictures From: [email protected]…