CHICAGO, July 09, 2024 (GLOBE NEWSWIRE) -- Christie's International Real Estate,
the global authority on luxury real estate, has released its 2024 Global Luxury
Mid-Year Outlook (https://www.christiesrealestate.com/blog/2024-global-luxury-
mid-year-outlook). From Verbier to Vietnam, the report offers a look at the
current state of luxury real estate around the world and predictions for the
rest of 2024.
The report is based on insights from more than three dozen Christie's
International Real Estate broker-owners in 18 countries on five continents. It
is designed to guide homebuyers and sellers and those looking to invest in
luxury homes in the near future, so they can be confident participants in the
current market. Highlights include:

  * A global overview (https://www.christiesrealestate.com/blog/global-luxury-
    real-estate-mid-year-overview) of the luxury real estate market,
    highlighting commonalities across markets and three themes predicted to
    impact luxury real estate sales over the next several months;
  * Regional forecasts (https://www.christiesrealestate.com/blog/mid-year-
    regional-market-updates/), offering insight on what to expect in the second
    half of the year in 29 different markets;
  * A look at 10 significant sales
    (https://www.christiesrealestate.com/blog/mid-year-significant-luxury-home-
    sales) from the Christie's International Real Estate affiliate network and
    what these transactions tell us about the luxury real estate market in each
    location.

Key takeaways include:

  * The mood for U.S. brokers is cautiously optimistic, as high interest rates
    continue to impact both available supply and the luxury buyer's psyche;

* The sunsetting of tax regimes is expected to create a dynamic environment in

    Europe, where markets including Portugal and the UK have recently phased
    out, or are planning to phase out, programs incentivizing the purchase of
    real estate by foreigners;
  * Ultra-high net worth (UHNW) buyers have been relatively unfazed by global
    economic conditions and continue to set their sights on trophy assets in
    regions including Dubai, London, Beverly Hills, and Naples, Fla.

"Hearing from our affiliates in major financial centres, emerging markets and
top resort destinations around the world, we found commonalities, stark
differences, as well as some surprises, when it comes to luxury real estate
activity and predictions for the second half of 2024," said Thad Wong, co-CEO of
Christie's International Real Estate. "Looking at our most significant sales in
the first half of the year, it's clear that, despite a complex economic and geo-
political environment, the best properties continue to be in high demand."
To read the full report, click here
(https://www.christiesrealestate.com/blog/2024-global-luxury-mid-year-
outlook).
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About Christie's International Real Estate
Christie's International Real Estate (http://www.christiesrealestate.com/) has
successfully marketed high-value real estate around the world for more than 30
years. Through its invitation-only Affiliate network spanning nearly 50
countries and territories, Christie's International Real Estate offers
incomparable services to a global clientele at the luxury end of the residential
property market.
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