Global Luxury Home Markets Soared in 2021, Showing Record Increase in Sale Prices
Among 100 cities worldwide, five U.S. locales had exceptionally high appreciation last year.
A lavish architectural estate built into the rock overlooking the Coachella Valley has sold for an area record of $42 million.
The contemporary home in Messina comes with a low-carbon design, a glass and timber facade and room for a heliport.
It’s estimated that there are more than 8.7 million privately rented homes across the U.K. property market, making the country the fourth-largest rental market in the world, behind the U.S., Germany and Japan, according to data from London-based real estate lender Octane Capital. “While we will never rival the might of the United States due to the mismatch in geographical size, population and property market size, we could see the U.K. start to catch the other frontrunners as long-term renting becomes more prevalent as a lifestyle choice,” said Jonathan Samuel, CEO of Octane Capital.
Following a prolonged stretch of price gains, February marked the first time in 17 months that Sydney’s property prices recorded a monthly fall. While minimal, at just 0.1%, the dip was significant, according to CoreLogic’s head of Australian research Eliza Owen. The fall was “the equivalent of about A$1,000 (US$725) at the median value level, but I think it’s definitely a sign that the market is shifting slightly from a sellers’ to a buyers’ market,” she said.
A Victorian mansion in New Orleans that belonged to the late author Anne Rice, writer of “The Vampire Chronicles,” is now asking a hair under $4 million following a price cut. Though Rice moved out of the Gothic-style house in 2010, it remained in her possession until her death in December at the age of 80. Located in the city’s Garden District, the five-bedroom house, built in 1888, spans close to 8,800 square feet and boasts porches, fireplaces, crystal chandeliers and elaborately carved corbels.