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business9h ago
7 Cities Around the World With More Luxury Real Estate Than ‘Regular’ Homes
- Global luxury real estate markets are expanding beyond traditional hubs, with several cities now boasting more luxury homes than standard residences.
- Miami, Dubai and Seoul are highlighted as key examples where luxury markets have surged since 2020.
- Dubai is identified as the top market for five-year growth through late 2024, fueling its luxury segment.
- Seoul shows strong growth, ranking among top markets for five-year growth with a substantial rise in wealth creation.
- Other cities like Christchurch, Shanghai and Los Angeles also show thriving luxury markets, signaling a broader trend.
- Experts cite drivers such as safety, asset protection, and favorable tax policy as factors drawing buyers to luxury properties.
- Luxury market growth can raise challenges for local residents, including higher rents and access issues for essential services.
- City planning and zoning are crucial to ensure luxury growth does not outpace transport, schools, and infrastructure.
- The Wealth Report 2025 frames luxury real estate as a growing, global investment trend rather than isolated to a few markets.
- Market analysts emphasize the importance of understanding both benefits and downsides of luxury dominance for communities.
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