THE highly regarded Christie’s International Real Estate has conducted a fascinating study into the world’s hottest luxury real estate markets which can expect spectacular growth in the near future.
Surprisingly Auckland in New Zealand came out on top of the exclusive list after seeing a 63 per cent growth in sales of homes with a seven-figure price tag.
Last year’s top dog Toronto came in second place in the latest analysis with a 48 per cent growth rate, closely followed by its Canuck neighbour Victoria in British Columbia in third place.
San Francisco and Sydney also made the top ten list but Spain was represented in fourth by Valencia which has seen remarkable growth of both its prime and luxury real estate markets in recent years.
The thriving Spanish city has been completely transformed over the past decade, ushering in a new age of cosmopolitanism, which Malaga is successfully attempting to re-imagine itself on the Costa del Sol.
Having Spain present on the luxury list represents further progress for the national and coastal markets which are once again in a great position to tout themselves as superior alternatives for wealthy elites from the UK, Russia and China to purchase second homes and invigorate local business.