Luxury Market Report 2012

Over the last decade, Coldwell Banker Previews International® has watched closely as the luxury market has dramatically shifted from local to global. That is why we decided to consult with our affiliates from all four corners of the globe to give you an exclusive look inside the luxury real estate world in our first-ever Previews Luxury Market Report. Our hope is that this information will give you a clearer view of where the global market is currently, and where it could be moving...so you have the best intelligence to achieve your goals.  

Here are some key global highlights from the report: 

•In 2011, France was one of the few European nations to see property values go up as home prices increased by 4.3%. Now well into 2012, the French property boom continues, with prices outpacing euro zone averages   

•The Canadian luxury housing market (typically defined as $3 million and up) is currently experiencing a slowdown in sales activity, while prices remain stable.  In Vancouver, prices are currently up 1.7 percent in June from a year ago, yet sales are down. Nationally, average sale prices in June were up year-over-year in about seven out of every 10 local markets. 

•China is currently seeing similar trends in the U.S. and Canadian markets, where both the number of property sales and prices have decreased. International investors continue to play a role in the Shanghai housing market, with about 30% of all properties in Shanghai being purchased by buyers from Taiwan, Japan, Hong Kong and United States. 

There are also some significant domestic points to take note of in the report:
  
• In New York's Manhattan, prices and sales volume continue to hold steady in the second quarter of 2012. The upper Manhattan market saw the biggest increase in contract activity in July 2012, compared to the prior year.  

•The Westside of Los Angeles, which is known for affluent neighborhoods such as Bel Air, Beverly Hills, Brentwood, Santa Monica and Malibu, has seen inventory levels far lower than in years past, while sales in the luxury sector are up compared to last year. 

•In Miami, the high-end market is extremely active, partially due to the influx of foreign buyers, notably from Russia and Brazil. The luxury market has been energized in the Miami area since the summer of 2011 and has not abated through 2012.  

We invite you to read the entire Luxury Market Report by downloading the report above.