Recently Christie’s International Real Estate issued their new “The State of the International Luxury Real Estate Market.” I have thoroughly read through it and found it quite informative, especially the international comparisons.
There are 4 main points that I took away from this report and first 3 I would echo from what we see on a daily basis.
1. According to the report the Christie’s affiliates rated 62.5% of sellers as having an unrealistic asking price.
2. Buyers are cautious… “The majority of the buyers in my market aren’t under pressure to buy,” adds Mr. Turpin.
3. “Buyers want turnkey”, mentioned in the report by Barbara Cleary from New Canaan, CT.
4. Pockets of the International market have solid demand. Including Hong Kong, Paris, L.A.
The full report can be found at The State of the International Luxury Real Estate Market.
Sellers that have committed to having the market decide the value of the property can be found on Upcoming Luxury Property Auctions page.
