The Luxury Market Report
All signs point to a robust market for luxury homes in 2013, according to a new report from Christie’s International Real Estate that analyzed sales trends in San Francisco and nine other cities worldwide.
Global economic and political trends have a minor impact on luxury sales, the report concluded. Pacific Union is a partner with Christie’s, and we’re proud to have contributed to the report.
Analysis of luxury sales worldwide also found:
Among the 10 cities that were part of the survey, residential sales continue to set records – with out-of-town buyers accounting for many of the top sales.
Prestige property values are more likely to follow growth trends of luxury goods, such as fine art, rather than growth trends in the general housing market.
Recent tax law changes in many markets are expected to impact 2013 market activity.
High-net-worth individuals see real estate as an essential part of their investment strategy.
Read the full report for more details on the luxury real estate market, including a comparison of what $5 million buys in San Francisco and other top destinations.