Christie’s International Real Estate publishes "Global Luxury Residential Property White Pape

March 12, 2013

Christie’s International Real Estate is delighted to announce its new quantitative white paper Luxury Defined: An Insight into the Luxury Residential Property Market has been released to the international press.

The pioneering report compares 10 of the world’s top property markets, including Hong Kong, London, New York, Paris, San Francisco, Côte d’Azur, Toronto, Dallas, Los Angeles and Miami; and debuts the “Christie’s International Real Estate Index”, the first ever true global indicator for luxury residential real estate. The Index ranks markets across key metrics including record sales price, prices per square foot, percentage of non-local and international purchasers, and the number of luxury listings relative to population. It measures the performance of the luxury residential real estate market year-on-year. In future, when this composite index is compared to prior years, it will be a powerful gauge of luxury market trends.

According to the report, London’s $121 million (£75 million) sale and New York’s $88 million sale pushed both cities to the top of the Index with the highest record sale prices. Hong Kong had the second highest average price per square foot at $2,958. A popular second-home destination for the European jet-set, the Côte d’Azur recorded the highest percentage of international and non-local buyers (90%) and the highest percentage of secondary and additional home buyers (95%). Toronto reported the lowest average number of days on the market for luxury properties (46 days).

Hong Kong’s robust property market experienced a significant shift in October 2012, resulting from measures imposed by the government to curb property speculation and negate a growing asset bubble in the city’s property market. These measures have had major impact on the large number of Mainland Chinese investors, but experts anticipate that long-term investors will return. “Hong Kong’s property market has high liquidity and remains a strong investment choice for mainlanders who wish to diversify their assets,” says K.S. Koh, Founder and Chief Executive of Landscope Christie’s International Real Estate.

For additional information, please contact:

Ms. Yeoman Ho

Director

Direct: +852 3102 4874

Mobile: +852 6205 0415

Email: [email protected]