Toronto is towering above the rest of the world’s luxury property markets, as the only city to record an acceleration in the sales rate of high-end homes from 2013 to 2014. The Canadian city, well known for its economic stability, experienced a 37pc increase in the sale of luxury penthouses, apartments and houses in the 12 months to the end of December
The Knight Frank team predicts an immediate rise in sale volumes in the next two quarters of this year. Activity is likely to be most marked at the highest end of the market, which had been particularly subdued in the early part of 2015 because two of Britain’s main parties—Labour and the Liberal Democrats—looked at introducing a new levy on homes worth more than £2 million, the so-called mansion tax.
The latest figures show that the Irish real estate market generated total returns of 36.3% in the year to end-Q1 2015, among the highest in the MSCI index universe… “A recovering economy; falling unemployment; and an imbalance in the space markets, particularly in Dublin’s office, hotel and residential markets, offer a positive backdrop for further rental growth”
House prices in Sweden surged by 8.57% during 2014, according to Statistics Sweden, probably due to rock-bottom interest rates and a shortage of housing supply… House price growth this past year was much higher than the 3.90% rises seen in 2013 (3.83% in real terms), or the 2.28% house price rises in 2012 (2.21% in real terms).
Property values are soaring in Auckland, New Zealand, a city of 1.4 million people on a remote island straddling the Tasman Sea and the Pacific Ocean… Auckland’s beaches, clean air and environmentally friendly image are clear selling points for foreign property investors, analysts said. And New Zealand’s property investment laws — which do not include a stamp duty or a capital gains tax — are seen as more welcoming than those of Singapore, Hong Kong and other global investment hubs.