A Glance At The Luxury Residential Property Market
(Jackson Hole, Wyo.) – In spite of political and economic fluctuations worldwide, high-end residential real estate continues to be viewed as an attractive and lucrative investment, as evidenced through recent pockets of record sales and increased prices. The research is unveiled in Luxury Defined, the fifth annual white paper analysis of global luxury residential housing dynamics by Christie’s International Real Estate.
On the heels of a period of sustained growth, today’s luxury real estate marketplace is more nuanced, with benchmarks for high-end homes varying significantly from region to region. Disparities, including inventory, sales activity and sales prices, are prominent between individual markets.
What is the hottest luxury real estate market in the world? And how does that market compare with the top-ranking luxury real estate locations? What price point defines a true luxury property? Is cash still king in luxury real estate?
The answers to these questions and many other revelations are revealed in the analysis, including data from over 100 luxury housing markets worldwide, one being Jackson Hole Real Estate Associates. The report also uncovers reasons behind the generally slowing sales, upward-moving prices, and shifting sentiment of high- and ultra-high-net-worth individuals (HNWIs and UHNWIs) in both the challenged and best performing prime property markets.
The definition of ‘luxury real estate’ continued to broaden and bifurcate from region to region in 2016 and into 2017. For example, luxury is defined as under $1 million in Costa Rica, while it starts at $10 million+ in Monaco. In Jackson Hole, luxury properties start at $3 million.
CLICK HERE to view the full report.
About Jackson Hole Real Estate Associates
Jackson Hole Real Estate Associates is the exclusive affiliate of Christie’s International Real Estate in Wyoming and southeastern Idaho and has twice been recognized as the Global Affiliate of the Year from Christie’s International Real Estate. The reputation of Jackson Hole Real Estate Associates for exemplary client service and market knowledge combined with the power of Christie’s International Real Estate offers a synergy between local strength and global networking. The Christie’s International Real Estate network exceeds $118 Billion in annual sales and is the leading international network of real estate companies specializing in the sale of luxury and notable properties. For additional information, please visit www.jhrea.com.
Featured Image by Gibeon Photography: Aspensong, Jackson, Wyoming, $18M.