2024-03-10 23:16:21
New Zealand’s capital Auckland will become the world’s largest luxury property market in 2024. CNBC reports this with reference to a report from Knight Frank Wealth and Douglas Elliman, Day.Az reports with reference to Lenta.ru.
Experts studied the preferences of super-rich people with a net worth of $30 million and above regarding the purchase of housing and made a corresponding forecast for the current year. The report finds that Auckland will be the city of choice for the world’s wealthiest people in 2024, with property values expected to increase by 10 per cent over the year. Experts named India, in particular, the city of Mumbai, as another country popular with super-rich people – where the expected price increase in 2024 will be 5.5 percent. The third place on the list is shared by Dubai (UAE), Madrid (Spain) and Sydney (Australia), where the cost of high-budget housing will have to increase by five percent in each of them over the year.
Prices in the 100 largest luxury real estate markets rose an average of three percent in 2023. The greatest positive dynamics last year were observed in the capital of the Philippines, Manila, where the cost of such housing increased by 26 percent over the year. Dubai and the Bahamas took second and third place with price increases of 16 and 15 percent respectively. On the contrary, the cost of luxury real estate fell the most in 2023 in Oxford (UK) – by eight percent.
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