New Delhi, 20 June (IANS). The global market of super-prime residential properties recorded a 6 percent increase in transactions during the first quarter of 2025. This information was given in a report on Friday.
According to data compiled by Real Estate Consultancy Knight Frank, a total of 527 super-prime deals of $ 9.43 billion were recorded in 12 global cities in the first quarter of 2025, which was more than 498 bills in the previous quarter.
The average sales price of these luxury homes was $ 17.9 million.
Dubai once again topped the global rankings with 111 deals, recording the most transactions and the most transactions.
Palm Beach and Miami also performed strongly.
Palm beach saw a great growth with 74 deals in the first quarter of 2025, which continues its recovery with only 21 deals in the fourth quarter of 2023.
Miami recorded a 35 percent increase in the number of deal on an annual basis, with the amount of transactions almost doubled compared to the same period last year.
75 transactions were recorded in New York, while London and Hong Kong decreased somewhat after a strong closing at the end of 2023.
The number of deal in Hong Kong declined to 42, which is a 16 percent decline compared to the previous year and the volume declined to $ 690 million.
London also saw a higher slow pace, where 34 deals took place in the first quarter of 2025, which is 37 percent lower on an annual basis and the total price declined to $ 590 million.
Knight Frank reported that the super-prime market remains active despite increasing global uncertainties.
However, it warned that buyers and developers would need to be conscious of factors such as changing interest rates, currency fluctuations and local policy changes while planning their investment.
The report includes both quarter and annual figures on residential sales of over $ 10 million in major global cities.
-IANS
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