Luxury real estate explodes and goes everywhere ... even in Paris
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A study by Daniel Féau network, rich snapped again apartments to more than one million in the most listed cities.
The luxury goods market has exploded in number and prices in major big cities, with the exception of Paris and Hong Kong, says the study by the international network of luxury real estate Daniel Féau with Christie's International Real Estate.
This exponential growth is found everywhere, says the specialist, including the United States, where the general trend is very strong.
San Francisco arrived in 2013 and the head with a boom above the million sales by 62% (to achieve this international study, the figure of a million was used to define the high-end market). As the prices of apartments and mansions of international standard in the Californian city, they climb 17.2%.
"This surprising increase is explained by the development of the local economy due in particular to the Silicon Valley as well as the very rapid rise in the number of buyers 'Generation Y', enriched by the development of high-tech enterprises" says the study. Using the term 'Generation Y', the study implies that buyers of luxury property have more than 35 years!
Los Angeles in the second position
Los Angeles is second in the ranking of highest increases with 40% for the number of sales. On the evolution of prices over 12 months up by the city against the first place.
Sydney is located on the third place for both the number of products sold (= 29%) and price increases (+13%).
Followed by Miami (27%), New York (22%), London (20%) and Toronto (4%). The two cities are Paris, which fell (-7.5%) and Hong Kong (-15%). Paris also recorded a decline in prices of 9.8% while Hong Kong climbed 9.7%. (Lower prices of the French capital relates to property whose value exceeds € 2 million).