The world's most expensive markets for luxury real estate
Billionaires have been on a real estate buying spree. Stateside, they`ve broken records on huge home purchases in every major housing market
from Woodside to Malibu to
Aspen to Chicago to Miami to
New York. And internationally, massive sales in London,
Singapore and
Hong Kong have garnered worldwide attention.
`Global billionaire activity in world real estate markets has been so intense over the last seven years that it has led to a doubling of property values in this sector,` says
Savills, a global real estate firm, in its annual World Cities Review report. The report found that major cities` super luxury housing markets, referred to as `billionaire markets`, have grown at a much faster clip than mainstream markets of the same cities. The largest value increases have been clocked in
China and Asia, thanks to the emergence of new wealthy classes and rising commodity prices.
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