Backed by strong demand and healthy returns on investments, the global luxury real estate market has seen substantial growth.
Middle East and Latin America drive growth; Europe lags
According to the report, the strongest growth was recorded in the Middle East (7.2%) and Latin America and the Caribbean (6.3%), which significantly contributed to the overall improvement in annual price appreciation.
However, Europe lagged behind at 2.5%, impacted by high interest rates, slowing economies, and weaker consumer confidence. Similarly, North America saw subdued growth at 2.4%, largely due to weaker gains in Canada and parts of the US, including Miami, which slowed after a period of rapid growth. Read more
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