LUXURY REAL ESTATE ON FIRE
Bonnie Stone Seller’s, CEO of Christie’s International Real Estate, was featured on a recent episode of Fox Business to weigh in on the state of luxury real estate. The feature is titled “Luxury real estate on fire”, which tells us immediately that things are looking good in the world of lux real estate.
Seller’s begins by giving us the major stat from the Christie’s Annual Report, which indicates that luxury real estate sales are up 20% since last year. The demand is stronger and the days that luxury real estate properties are on the market is much shorter since past years.
The top markets include urban-central locations such as London, San Francisco, Hong Kong, Miami and Los Angeles. Resort sales are right behind urban-central sales – which is a good indicator for the market in Park City. As a whole, the stats of luxury real estate sales are a great global indicator for the economy.
Make sure you watch the video to get the details and see what sectors are spending their money on luxury real estate: