LUXURY LIVING PROPERTY u
LUXURY THERMOMETER
The world’ s“ hottest” city for luxury real estate based on our survey of 100 affiliate markets is Auckland, which posted an incredible 63 percent growth in million-dollar-plus sales thanks to strong international and local demand.
Last year’ s top-ranking market, Toronto, continues to thrive and saw an extraordinary 48 percent growth in year-on-year luxury home sales as well as a shrinking number of days on the market. Canada’ s Pacific waterfront city Victoria took third place in this year’ s rankings with exceptional year-on-year growth in luxury sales.
High-end second-home markets- Wyoming’ s mountain resort Jackson Hole saw increased interest from affluent domestic buyers whereas Spain’ s beachfront paradise Valencia experienced strong growth from an uptick in tourism and“ Golden Visa” overseas buyers.
After several years of softening prices, Sardinia’ s waterfront enclave Costa Smeralda, is beginning to witness a positive uptick, ranking seventh overall.
San Francisco and Sydney, ranking fifth and ninth respectively, both saw continued luxury sales growth along with strong interest from international buyers.
Two markets positively impacted by an influx of affluent tech buyers- Portland and Stockholm- saw high demand yet inventory constraints hampered further growth.
Auckland overtakes Toronto as the world’ s hottest luxury housing market
1
Auckland
2
Toronto
3
Victoria, British Columbia
4
Valencia, Spain
5
San Francisco
6
Jackson Hole, Wyoming
7
Costa Smeralda, Sardinia
8
Portland, Oregon u
9
Sydney
10
Stockholm
Source: Christie’ s International Real Estate 2016- Luxury Defined Report- www. christiesrealestate / luxury-defined 196 LUXURY LIVING