November 30, 2022

Taylor Daily Press

Complete News World

American rich increase investment in real estate; Austin strong growth market

Last year, more than 2,300 homes worth at least $ 10 million were handed over in the United States. This is twice as much as the previous year. This is according to research by American real estate group Compass.

Traditionally, a large number of transactions have been recorded in Los Angeles (California). Strong growth, on the other hand, was recorded in Austin (Texas).

Los Angeles

In Los Angeles, 628 properties turned up at least $ 10 million last year. This gave the city a 27.3 percent share of the total sales of American luxury real estate.

“Many rich people have seen their wealth rise sharply in recent years,” the researchers note Compass On. “Luxury real estate is often referred to Secure and valuable possession The owner can also protect against inflation.

In addition, it must be installed Many candidate buyers in the market At the time of registration, the limit of available assets will be less. That imbalance has further raised prices.

After Los Angeles, Manhattan became the most important market for luxury real estate sales in the United States last year. 326 transactions are registered here. Palm Beach in Florida is in third place with 203 properties sold.

Farms

According to the compass, these ratios were also Reflects on gross revenue Realized that. The largest market is Los Angeles, with revenues of $ 10.6 billion, followed by Manhattan ($ 6.31 billion) and Palm Beach ($ 3.75 billion).

However, Austin, the capital of Texas, recorded the largest growth in interest last year. Eleven homes worth at least $ 10 million were sold during that period. This is 450 percent more than the previous year.

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“The market in and around Austin can be expected to perform strongly this year,” the analysts said. “The best opportunities for the first half of this year have already been announced. The local market is characterized by strong demand and limited supply.

“Strong growth of at least five years – especially on farms and estuaries – can be expected here.”

(Kg)