Christie’s International Real Estate 2024 Global Luxury Mid-Year Outlook Offers Insights and Predictions for Luxury Real Estate
July 08 2024 - 12:00PM
Christie’s International Real Estate, the global authority on
luxury real estate, has released its 2024 Global Luxury Mid-Year
Outlook. From Verbier to Vietnam, the report offers a look at the
current state of luxury real estate around the world and
predictions for the rest of 2024.
The report is based on
insights from more than three dozen Christie’s International Real
Estate broker-owners in 18 countries on five continents. It is
designed to guide homebuyers and sellers and those looking to
invest in luxury homes in the near future, so they can be confident
participants in the current market. Highlights include:
- A global overview of the luxury real estate market,
highlighting commonalities across markets and three themes
predicted to impact luxury real estate sales over the next several
months;
- Regional forecasts, offering insight on what to expect in the
second half of the year in 29 different markets;
- A look at 10 significant sales from the Christie’s
International Real Estate affiliate network and what these
transactions tell us about the luxury real estate market in each
location.
Key takeaways
include:
- The mood for U.S. brokers is cautiously optimistic, as high
interest rates continue to impact both available supply and the
luxury buyer’s psyche;
- The sunsetting of tax regimes is expected to create a dynamic
environment in Europe, where markets including Portugal and the UK
have recently phased out, or are planning to phase out, programs
incentivizing the purchase of real estate by
foreigners;
- Ultra-high net worth (UHNW) buyers have been relatively unfazed
by global economic conditions and continue to set their sights on
trophy assets in regions including Dubai, London, Beverly Hills,
and Naples, Fla.
“Hearing from our
affiliates in major financial centers, emerging markets and top
resort destinations around the world, we found commonalities, stark
differences, as well as some surprises, when it comes to luxury
real estate activity and predictions for the second half of 2024,”
said Thad Wong, co-CEO of Christie’s International Real Estate.
“Looking at our most significant sales in the first half of the
year, it’s clear that, despite a complex economic and geo-political
environment, the best properties continue to be in high
demand.”
To read the full report,
click here.
###
About Christie’s
International Real Estate Christie’s International Real
Estate has successfully marketed high-value real estate around the
world for more than 30 years. Through its invitation-only Affiliate
network spanning nearly 50 countries and territories, Christie’s
International Real Estate offers incomparable services to a global
clientele at the luxury end of the residential property market. For
more information, please visit christiesrealestate.com.
- U.S. buyers are cautiously optimistic, tax regimes are having
an impact worldwide, while ultra-high-net-worth buyers remain
unfazed by global economic conditions
Bella Paredes
Christie's International Real Estate
2197657682
bellaparedes@atproperties.com