Tag

luxury property investing

Browsing

Land ownership is one of the most ancient proofs of wealth. However owning contemporary luxury real estate is not only an attribute of good living, but also a great investment tool and market indicator, which hints at global property trends and reveals economic and political outlooks. The UHNWIs (Ultra High Net Worth Individuals) wouldn’t spend dozens of millions of US dollars for property they don’t find promising, would they? Last year the top segment of growing luxury property markets was dominated by cities in China, New Zealand, Canada and Australia, while oil-dependent markets such as Moscow and Lagos were down at the bottom, according to Knight Frank’s fresh Prime International Residential Index (PIRI). The index ranks luxury property prices in 100 key locations worldwide. In 2016, the value of urban luxury property increased on average by 2.4% year-on-year, while beach or coastal property slipped marginally by 0.5%. Average prices on…