Luxury Real Estate News and Gossip

18 luxury condos sold for $1.6 million at auction

Las Vegas CityCenter moves forwards; CB Richard Ellis and Jones Lang LaSalle post first quarter losses; auctions are the new black; and the Queen turns down a low class tenant. The New York Times reports that Dubai World and MGM Mirage have apparently settled their differences (most of them) and are now moving ahead with […]

Shanghai Luxury Property – The Only Market Immune to the Financial Crisis

Shanghai Luxury Property Immune to Downturn?

According to an “expert” in Shanghai, the luxury real estate sector in Shanghai will be the only market in the world that will continue to grow in value this year. Despite the fact that Hong Kong luxury real estate has seen massive falls in value, Dubai’s luxury market has all but collapsed and in 2008, […]

Luxury Property in Hong Kong – Prices Fall at Fastest Rate in Ten years

Hong Kong’s luxury property values fell at the fastest rate since the Asian financial crisis ten years ago, according to CB Richard Ellis. Prices on the Peak, Hong Kong’s most expensive area fell over 30% in the last quarter of 2008 compared to the same quarter 2007. Both the Hong Kong and Chinese stock markets […]

Hong Kong’s Luxury Residential Market Sees Sharp Fall in Value But Increase in Activity in January

Hong Kong’s residential property prices fell 35.4% in 2008, according to CB Richard Ellis’ Q4 market report and are continuing the decline in 2009. The number of transactions in the luxury property segment – measured as sales above $HK 10 million ($US 1.29 million) – fell to 575 compared to 2,807 transactions in the last […]

Luxury Real Estate Developer Launches New Website

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Balli Real Estate Ltd, the UK and UAE based investor-developer, have launched their new website to showcase the company’s brand, services and its $3.5 billion property investment and property portfolio on the internet. Built using a mixture of HTML and Flash Shockwave programmes, the new website is designed to be simple, stylish and easy to […]

Luxury Real Estate in Romania Faces Uncertain Future

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Uncertainty on the Romanian luxury residential real estate market is causing a shift in investment strategies – for both investors and developers In the last 6 months, prices in the luxury apartment market have fallen 10% for older apartments and newer construction sales have stalled almost completely, which is a major turn-round. The last few […]

Luxury Real Estate – Market Trends and News

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The Calgary Herald reports that the US mortgage crisis is hitting Costa Rica’s vacation home market. Sales of the high end are still strong (Albeit after a large drop in prices) but the less expensive condos ($100-$200,000) are not selling. Slump hits vacation homes in Costa Rica Donald Trump, in an interview with the New […]

Citi announces three preferred EMEA real estate advisors

Citi today announced that its has selected three preferred real estate services advisors for its transaction management services across Europe, the Middle East and Africa (EMEA). – CB Richard Ellis, Knight Frank and Cushfield & Wakeman. The joint mandate for Citi’s real estate network covers over 1,640 offices, call centers and retail outlets in 53 […]

Luxury Real Estate Strong in Thailand

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CB Richard Ellis´ sales at an exhibition in Bangkok during May increased 80% over 2007 reports Asia Property Report. The company sold fifty condo units worth a total of $20.5 million US, located in Pattaya, Bangkok and other resort destinations . CBRE says that one of the main reasons for the impressive sales figures is […]

Luxury Real Estate Market – Asia

The Asian Luxury Property Market saw record prices in many areas in 2007. Luxury property developers took advantage of the flourishing market and in some cases adapted existing plans to increase floor area and the level of appointments to attract a wealthier clientele. Hong Kong Luxury Residential Real Estate Hong Kong set a new record […]