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Discover The World’s Best Luxury Real Estate Markets

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The luxury real estate market contains the world’s most sought after properties.

These luxury properties are available on the market for prices in the region of $1 million to $66 million.

The current housing market

The current global markets are rising thanks to low-interest rates.

The top performing countries continue include:

  • United Kingdom
  • Canada
  • Sweden
  • Australia

The two top performing countries for house prices are Canada and Sweden.

Housing prices in Russia and Brazil are going against current trends, and continue to fall due to high-interest rates, growing unemployment, and severe recessions.

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The US housing market is continuing on a steady upward trend.

Contributing to this is a surge in demand and an improving jobs market.

 

Uncertainty in not just the housing market, but in the markets as a whole, has begun to surface due to the current unease in Europe.

Despite steep falls across the financial markets over the weekend, the markets appear to be stabilizing towards the end of the week with stock markets currently showing mostly growth.

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The luxury housing market

The top luxury housing markets in 2015-2016 have been:

  • London
  • Hong Kong
  • New York
  • Los Angeles
  • and Singapore

What makes these places attractive to property buyers and how have the current markets affected them?

London

After a period of growth in 2013, the luxury housing market has been declining due to new tax policies.

Despite these declines, London continues to be popular with domestic and international property investors.

London boasts high numbers of luxury properties, the average price of luxury real estate is $2,356,292.

The EU referendum caused luxury-housing sales to slow down in the capital; however, the housing market has shown signs of growth despite the left vote winning.

It is uncertain if this will continue to be the case.

Hong Kong

Hong Kong boasts the most expensive luxury property sale, at $194 million in 2015.

Property sales have declined in the last year due to ongoing government regulations.

Hong Kong, however, remains popular with Chinese and international investors.

New York

New York boasts several high priced property sales and currently places just behind London for great sales.

The Stock market’s volatility has hit the New York luxury housing market due to low liquidity from buyers.

The hit on the luxury property market is affecting the whole of New York.

Los Angeles

The average sale of a luxury property in Los Angeles is $2,590,000, with the high end of the market hitting $60 million.

Los Angeles boasts many high profile properties and residents including Hugh Hefner’s Playboy mansion; the estates are sold in the region for $200 million.

Sale prices have shown a slight slowdown when you compare growth in 2015 with growth in 2014.

Singapore

The average price for a luxury property is in the region of $1 million, with the highest priced at $66 million.

The decline of house prices disturbing the luxury housing market is affecting Singapore, with the liquidity of buyers contributing to this gradual decline as well as Government cooling measures.

Other luxury property markers

These are not the only luxury property markets available; there are also luxury property markets available in:

  • Paris
  • Miami
  • San Francisco
  • Toronto
  • Sydney

Despite stock market fluctuations and shifting in the fortunes of buyers, the luxury property market is carrying on.

Conclusion

The whole of the global housing market is currently on a gradual rise, although how long for remains is unknown due to uncertainty in the financial markets.

Despite predictions of global chaos, the stock market has shown slight signs of growth.

However, experts believe that we have not yet seen the fall-out from the EU referendum.

Currently, there are increases in house prices seen across the globe with the expectation of Brazil and Russia.

Brazil and Russia are going against the trend due to many economic problems such as high-interest rates and low employment levels.

The luxury housing market has seen a slowdown in house prices.

There are many reasons for this, however; economic issues, Government interventions, and reduced liquidity among buyers are the most common contributing factors.

Each of the cities listed all have different strengths and weaknesses.

London boasts the most amounts of luxury properties, however; Los Angeles is famous as the home for the rich and famous.

The luxury property market, much like the rest of the financial markets, appear to be holding on despite all the trouble already faced and that which may be yet to come.

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