Hong Kong has become the leader in the global premium housing market


Hong Kong is ahead of New York and London in terms of the number of transactions in the premium housing market in 2018, Knight Frank reports. The city is leading in terms of the number of real estate transactions worth more than $25 million and an average property price of $52.8 million. The total cost of 153 transactions over $25 million was $6.6 billion. All transactions recorded by the company took place in Hong Kong, New York, London, Singapore, Los Angeles and Sydney. The volume of transactions increased by 12% over four years. Analysts at Knight Frank predict an increase in the number of people whose wealth is more expensive than $50 million, by 40% over five years. It is assumed that the activity in the market of premium housing will continue. The demand for second housing markets (Sardinia, Portofino, Alps) will grow, and many cities like Chicago and Shanghai will improve their position in the ranking.

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