InternationalMarkets & Economy

2016 retrospective: The year of global luxury real estate

A period of activity and change in the upscale market
  • The luxury real estate sector saw expanded growth during the past year.
  • A few high-end real estate developments surprised the industry in 2016.
  • Buyers and sellers will determine the future look of luxury real estate.

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As we move into autumn and head toward the last quarter of the year, let's look back at the state of global luxury real estate in 2016. What defined high-end property in recent months? Can we take away valuable insight from observing the performance of luxury real estate this past year? Luxury real estate 2016: The fact of the matter One thing is certain in the luxury sector. Despite fluctuating stock markets, exchange rates, regulatory issues and financial and political concerns as well as instability within some global regions, UHNW (ultra high net worth) individuals continue to be active in the luxury real estate market. Spreading luxury Of course, not all regions performed the same. Oddly, a few major centers (such as New York and London) did not see the same growth in luxury real estate during 2015 and early 2016 as in previous years. Yet other areas (including diverse regions such as Dublin and Detroit) showed surprising improvement. The expansion of the high-end real esta...