A new report by real estate agency Knight Frank finds that 153 properties in six cities’ “ultra-prime” category sold for a combined total of $6.6 billion in the last year, or an average of $43 million per house.
Hong Kong led the world in sales over $25 million, followed by New York, then London.
— Bloomberg
Market slowdown? What market slowdown? While the real estate sector in the U.S. and certain global regions (looking at you, Brexit-y London) is seeing signs of cooling, including the upper-scale segment, there has been no significant impact on the uppest-scale cream slice of the industry with ultra-luxury properties worth $25 million and up, according to the new study The Global Ultra-Prime Market 2019 from real estate consulting firm Knight Frank.
"Bailey’s team identified 129,730 people on the planet with more than $50 million in investable assets in 2017," reports Bloomberg. "They saw consistent participation from those individuals in the ultra-prime market in just 17 geographic sales areas."
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i'm so glad our job creators are doing fine.
their blessings shall continue to nurture our great civilization.
Actually, I just read an article in the WSJ detailing softness in the ultra-exclusive Manhattan and Hamptons houses, condos, and apartments. They listed many detailed instances of sellers' asking prices being reduced by millions of dollars because their properties aren't selling. Ditto for the pricey Connecticut super-rich enclaves.
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