In 2014, 5 houses sold for more than $US100 million.
A record number of properties around the world are now commanding prices above $US100 million. Last year, five homes sold for more than $US100 million and at least 20 more were on the market with nine-figure asking prices, says Christie's International Real Estate in a report released Thursday. Just one $US100 million+ home was sold in 2013, following four in 2012 and three in 2011.
Last year's sales of homes for at least $US100 million were led by an East Hampton, New York, estate bought for $US147 million for by Barry Rosenstein, managing partner at hedge fund Jana Partners. The other top sales were a $US146 million villa in Saint-Jean-Cap-Ferrat, France; a $US120 million estate in Greenwich, Connecticut; a $US104 million Hong Kong residence; and a $US100.5 million duplex penthouse in New York's One57 condominium tower, said Christie's.
Demand for ultra-luxury homes is growing among affluent Americans and Europeans, billionaires from unstable economies such as Russia and Middle Eastern countries, and buyers from mainland China who have only been allowed to invest overseas since 2012, the report shows. It analysed home sales in 10 cities known for prime property: Dubai, Hong Kong, London, Los Angeles, Miami, New York, Paris, San Francisco, Sydney and Toronto. The average starting price for a luxury home was $US2 million in these cities.
"You're looking at a universe of over 1800 billionaires who are starting to become members of this club of collectors of the most unique and incredible real estate in the world," said Dan Conn, chief executive officer of Christie's International Real Estate.