Five cities buck global super-prime slowdown

Below are the key highlights of the Global Super-Prime Intelligence report. Download the full report for all the details.

Key highlights:

• Global super-prime ($10m+) residential sales fell 2.4% in Q3 2023 on a year-on-year basis, with 362 sales across the 12 markets covered in the three months to September compared to 371 in the same period last year.

• Five markets saw volumes rise through the last quarter on a year-on-year basis, with Hong Kong, Dubai, Geneva, Miami and Sydney seeing more sales in Q3 this year against Q3 2022

• Dubai once again leads the ranking of quarterly sales, a position it has held since Q4 2022. London follows in second position, with Hong Kong sitting in third place.

• The super-prime market is driven more than most by new-build completions. Strong sales volumes in 2021 were flattered to an extent by delayed completions in 2020. As we move into 2024, the tailwind from new build sales will weaken as the lower volume of new project starts through the pandemic begins to be felt.