Save the date: @adelto #LuxVox Twitter chat on Thursday 13th June, 1pm BST
Recent figures show the luxury property market has taken a nosedive – but despite the economic gloom it has been predicted the luxury property market is set to pick up, according to international estate agents Knight Frank.
The average price of luxury homes in the world’s key cities fell by 0.4 per cent in the first quarter of 2013 although the annual rate remained positive at 3.6 per cent.
Key cities such as Tokyo, Paris and New York all saw 10 per cent falls in luxury home values between the end of December 2012 and the end of March 2013.
Madrid, Singapore and Tel Aviv saw falls of between 5 and 8 per cent, while Kiev, Geneva, Miami and San Francisco saw values drop slightly.
However, interest in purchasing luxury properties (valued to be worth above €1m) has increased by an average of 2 per cent in the last 12 months, according to analysis conducted by Luxuryestate.com.
In June this year a report compiled by Candy & Candy, Savills and Deutsche Bank, also predicts a significant growth in the fortunes of ultra-high-net-worth individuals (UNHWI), which, in turn, will boost demand in the luxury property market.
The report found that the total value of residential property purchases exceeding US$15.5 million is set to rise by 27 per cent in the world’s top financial centres of New York, London and Hong Kong.
Keeping this in mind Adelto will be co-hosting a Twitter chat next Thursday (13th June) with PRCo a specialist travel PR agency, representing some of the world’s foremost luxury hotel, property, and spa brands. The topic for the hour will be “luxury property”.
During this hour we will be discussing trends in the luxury property sector, where is hot to buy and giving tips and a lot more.
Joining the chat is simple and easy:
2 – Use hashtag #LuxVox so everyone can see your responses
3 – Join the #LuxVox Tweetchat room here
In the meantime we leave you with some images of our favourite properties featured on Adelto.
Love Interior Design & Exotic Travel? Follow us..