Weller Development Partners’ Post

Through the 2024 Luxury Outlook report, our goal is to help you navigate this fast-moving and ever-changing real estate market. We hope that this compilation of research and industry perspectives, exclusively presented by Sotheby's International Realty, helps you as you look to invest your equity wisely in the year ahead. The Sotheby’s International Realty® 2024 Luxury Outlook report overviews industry trends in high-end residential markets around the world and highlights what you can expect in the year ahead. As buyers are acclimating to the new normal of higher interest rates, high-end home seekers are expanding their searches to more parts of the globe. In this report, we explore topics from emerging markets including Saudi Arabia and Mexico City to the newest tech tools currently disrupting the real estate industry. We know buyers and sellers want to spend—and earn money—wisely, and staying well-informed is just the way to do it.

As we step into 2024, the luxury real estate market now stands at another fascinating juncture. Known for its resilience and capacity to set trends, will the luxury market once more take the lead and steer us towards a stronger year for sales? Click below to read the most recent Maui luxury market report along with comparative data on the top residential markets throughout the United States and Canada. https://buff.ly/49Mpf0z

The Sotheby’s International Realty® 2024 Luxury Outlook report overviews industry trends in high-end residential markets around the world and highlights what you can expect in the year ahead. As buyers are acclimating to the new normal of higher interest rates, high-end home seekers are expanding their searches to more parts of the globe. In this report, we explore topics from emerging markets including Saudi Arabia and Mexico City to the newest tech tools currently disrupting the real estate industry. We know buyers and sellers want to spend—and earn money—wisely, and staying well-informed is just the way to do it. Through the 2024 Luxury Outlook report, our goal is to help you navigate this fast-moving and ever-changing real estate market. I hope that this compilation of research and industry perspectives, exclusively presented by Sotheby's International Realty, helps you as you look to invest your equity wisely in the year ahead.

Luxury real estate prices just hit an all-time record Luxury real estate sees the biggest increase in three years KEY POINTS ·        Luxury real estate sales increased more than 2%, posting their best year-over-year gains in three years, according to Redfin. ·        The median price of luxury homes hit an all-time record of $1,225,000 during the period. ·        Real estate experts and brokers chalk up the divergence to interest rates and supply.

Christie’s International Real Estate is pleased to present our 2024 Global Luxury Real Estate Forecast, delving into the key trends shaping luxury real estate around the world in the year ahead. Looking ahead in 2024, we note that strong demand for luxury homes and estates persists, but one of the key questions is how this will translate to deal flow. In several markets, sellers feel little pressure to meet buyers’ moderating price expectations. Other historically strong-performing markets are growing more restrained by regulation. And others, as noted above, simply lack a supply of homes to sell. Our Regional Forecast examines micro-market factors in several key locations through the eyes of local Christie’s International Real Estate brokers.  Read the Full Report Here: https://lnkd.in/gYXhfZmB

Interesting article here

The luxury real estate market in the canton of Geneva appears well-positioned to continue growing in 2024. Several reports indicate sustained demand despite higher interest rates and global economic uncertainties. According to the Sotheby's International Realty report, demand for luxury properties remains strong, driven by international buyers and increased mobility among wealthy individuals. These buyers are increasingly looking for multiple residences and are influenced by factors such as government incentives and climate change (Premier Sotheby's International Realty) (Sotheby's Realty). Additionally, Christie's International Real Estate notes surprising robustness in the luxury market, largely due to high demand and relatively limited supply. Despite challenges posed by interest rates and geopolitical uncertainties, the sector has shown significant resilience (Christie's Real Estate). Coldwell Banker also highlights continued optimism among luxury consumers. They remain selective, preferring to wait for the perfect property that meets all their requirements, such as privacy, stunning views, and advanced technologies (Coldwell Banker Blue Matter) (RISMedia). In summary, while factors like high interest rates may pose challenges, demand for luxury real estate in Geneva is expected to remain strong, supported by international buyers and changing consumer preferences.

The luxury real estate market in the canton of Geneva appears well-positioned to continue growing in 2024. Several reports indicate sustained demand despite higher interest rates and global economic uncertainties. According to the Sotheby's International Realty report, demand for luxury properties remains strong, driven by international buyers and increased mobility among wealthy individuals. These buyers are increasingly looking for multiple residences and are influenced by factors such as government incentives and climate change (Premier Sotheby's International Realty) (Sotheby's Realty). Additionally, Christie's International Real Estate notes surprising robustness in the luxury market, largely due to high demand and relatively limited supply. Despite challenges posed by interest rates and geopolitical uncertainties, the sector has shown significant resilience (Christie's Real Estate). Coldwell Banker also highlights continued optimism among luxury consumers. They remain selective, preferring to wait for the perfect property that meets all their requirements, such as privacy, stunning views, and advanced technologies (Coldwell Banker Blue Matter) (RISMedia). In summary, while factors like high interest rates may pose challenges, demand for luxury real estate in Geneva is expected to remain strong, supported by international buyers and changing consumer preferences.

Canada’s luxury real estate markets prepare for robust fall activity as consumer confidence strengthens Sales of luxury homes were up in the first eight months of 2024 compared to the same period last year in most major cities http://spr.ly/6046oua80

You’ll get a little less bang for your buck when buying a luxury property in Sydney in 2024. That’s according to Knight Frank’s latest Prime International Residential Index (PIRI 100), which tracks luxury residential property prices worldwide. In Sydney, US$1 million bought 43 square metres of luxury space in 2023 compared to 44 square metres in 2022. Luxury sales also fell by 37% on average in 2023, primarily due to supply shortages. Knight Frank Partner Erin van Tuil said, “Whilst volumes have dropped for Sydney’s prime residential market, values have not, demonstrating once again that Sydney remains a popular location to live and invest for high-net-worth individuals and ultra-high-net-worth individuals.” Van Tuil also highlighted that Sydney remains competitive in a global market, with US$1m buying you 10 square metres more in Sydney than London, 9 square metres more than in New York and 21 square metres more than in Hong Kong. If you’re interested in buying a luxury home in Sydney, contact me on benhawley@azurafinancial.com.au or 0413 766 888. #homeloans #luxuryrealestate #Sydney