Deviating from affordable housing a bit to luxury.
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Knight Frank: New York’s luxury home market is No. 1 in the world
Quote:
New York’s luxury home market was No. 1 in the world last year, with the biggest gains in high-end property prices.
The value of premium residential property in the Big Apple climbed 18.8 percent between December 2013 and December 2014, compared to the global average price growth of 2 percent, according to Knight Frank’s 2015 Wealth Report, released today.
The report’s Prime International Residential Index (PIRI) marks the change in price of prime residential property in 100 cities and second-home locations. After New York, the other cities with the biggest gains in luxury real estate were Aspen (16%), Bali (15%), Istanbul (15%) and Abu Dhabi (14.7%).
The US dominated the global luxury real estate market, with American cities taking four out of the top 10 PIRI slots — San Francisco (14.3%) was No. 6, and Los Angeles (13%) was No. 10.
Meanwhile, Asia experienced a slowdown in luxury home prices; in 2013, four Asian cities were in the top 10, but just one made it to the list this time — Bali, at No. 3. Jakarta, which previously led the rankings in 2012 and 2013, slid to 12th place this year, an indicator of the luxury market slowdown evident across many Asian markets in 2014.
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http://www.knightfrank.com/wealthrep...idential-index
http://news.buzzbuzzhome.com/2015/03...rk-luxury.html