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Sotheby’s reveals cities recording highest luxury home prices in 2014

Sotheby’s reveals cities recording highest luxury home prices in 2014

Hong Kong, New York, and the Bahamas' luxury property markets were on fire in 2014, with high-end home prices registering the biggest gains globally. The highest purchase prices for luxury homes were reported among these cities, according to Sotheby's International Realty.

Sotheby’s International Realty’s 2014 Global Luxury Residential Real Estate Report looks at the property holdings owned by “ultra-high-net-worth (UHNW) individuals,” defined as those with a net asset of at least US$30 million or above.

Sotheby’s International Realty indicated that in Hong Kong, the most luxurious home is located in a famous area surrounded by mountains and with an excellent view. The house comes with its very own private elevator, dome-shaped sunroof, and super wide balcony. The cost is up to US$ 58,000,000.

The fourth and fifth highest purchase prices for luxury homes in the world were recorded in New York and Sydney, respectively. The sixth to tenth highest purchase prices were recorded in Texas, Connecticut, California, and in the Turks and Caicos Islands.

Sotheby's International Realty is a luxury real estate brand founded in 1976 by the Sotheby's Auction House. Sotheby's International Realty operates as a franchise focusing on brokering and marketing of luxury residential real estate. As of 2013, the network had nearly 14,000 sales associates located in approximately 680 offices in 49 countries and territories.


Updated : 2021-09-23 17:21 GMT+08:00