Global billionaire activity in world real estate markets has been so intense over the last seven years that it has led to a doubling of property values in this sector, says international real estate adviser Savills, in its latest World Cities Review. Although overall, aggregated world values did fall somewhat after 2007 and price movements seem relatively volatile, recovery has been significant since 2009 so billionaire markets have exceeded the growth seen in mainstream markets of the same world cities.
Butterfly Residential Latest News
It has been rising commodity prices and the creation of new, ultra-rich classes in China and Asia that has precipitated the highest growth in ultra-prime real estate values. Singapore and Mumbai stand out as having seen the highest growth in ultra-prime values since 2005 (at 232% and 176% respectively). Both grew from a relatively low base while the highest overall values are seen in Hong Kong. Cities in newly emerged economies have significantly outperformed those in the ‘old world’ economies of the US, Japan, Australia and Europe. Only London’s ultra prime market stands out among the ‘Old World’ cities as having shown significant growth since 2005, totalling 107%. New York’s billionaire real estate stands only 47% higher and Tokyo ultra-prime residential is only 8% more expensive (in local currency) than it was in 2005. Source: Savills
About Butterfly Residential
My name is Edward Fairless, along with my sister Nicola Fairless I run Butterfly Residential a company which specialises in sales and rentals of luxury property in Spain, London and Barbados. Butterfly Residential offers expert advice and support throughout all stages of buying a property. Whether you require private finance, design or concierge services, we aim to deliver the very best service. Visit us today http://butterflyresidential.com
Butterfly Residential are market leaders in the luxury real estate sector with exclusive properties for sale and luxury properties for rent in some of the finest locations across the world.