May 12, 2016 / Market Insights

The World's "Hottest" Luxury Real Estate Market Is...

Auckland overtakes Toronto as the world’s "hottest" luxury housing market

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The world’s “hottest” city for luxury real estate based on our survey of 100 affiliate markets is Auckland, which posted an incredible 63 percent growth in million-dollar-plus sales thanks to strong international and local demand.

Last year’s top-ranking market, Toronto, continues to thrive and saw an extraordinary 48 percent growth in year-on-year luxury home sales as well as a shrinking number of days on the market. (See last year's rankings). Canada’s Pacific waterfront city Victoria took third place in this year’s rankings with exceptional year-on-year growth in luxury sales.

High-end second-home markets such as Wyoming’s mountain resort Jackson Hole saw increased interest from affluent domestic buyers, whereas Spain’s beachfront paradise Valencia experienced strong growth from an uptick in tourism and “Golden Visa” overseas buyers. After several years of softening prices, Sardinia’s waterfront enclave, Costa Smeralda, is also beginning to witness a positive uptick, ranking seventh overall.

San Francisco and Sydney, ranking fifth and ninth respectively, both saw continued luxury sales growth along with strong interest from international buyers. Two markets positively impacted by an influx of affluent tech buyers—Portland and Stockholm—saw high demand yet inventory constraints hampered further growth.

Source: Luxury Defined 2016 by Christie's International Real Estate

Tour properties from Auckland, our "hottest" city for luxury real estate:

This seven-bedroom home is perfectly located in the heart of Auckland City, next door to Government House and across the road from Florence Court. The double-entry doors welcome you into this turn-of-the-century, single-level solid masonry home which features five bedrooms, one large study, four bathrooms, and a powder room access off the spacious gallery hallway with lead light skylights.The beautifully proportioned home offers multiple living rooms including a grand ballroom/entertainment room, formal lounge, casual family/living room, and playroom above the three-car garage.
  
An exceptional Italian-inspired villa proudly dominates the hillside and boasts outstanding views of Rangitoto Island and the channel.This five-bedroom property features three levels of luxury living including a large theater room, climate-controlled wine cellar, a three-level elevator to ensure mobility for all ages, and extensive formal living rooms.The beautiful outside area offers a magnificent swimming pool, spa, covered fireplace, and outdoor dining area.

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