The Luxury Real Estate Market Through the Eyes of Christie’s International Real Estate Network
Thanks to the exclusive partnership between Svoboda & Williams and Christie’s International Real Estate, Monique Ghosh, Global Head of Referrals at this prestigious real estate network, was invited to speak at the Real Estate Investment 2019 conference organized by the Stavební forum magazine. Her presentation was part of a discussion panel on How to Sell and Buy. She touched on several recent trends that could be observed on the luxury real estate market in the last year and also highlighted the interesting developments taking place in several European cities, including Prague.
The Stavební fórum conference included 3 discussion panels on various topics, such as the development of real estate investments in a long-term context, property yields and how to maximize them, legislation related to purchasing real estate in the Czech Republic and abroad, as well as Prague’s strategic plan, which will have a significant impact on future investments.
Ghosh spoke about exceptional properties in the luxury real estate segment and presented some of the most interesting sales transactions that Christie's International Real Estate realized within the last year, for instance a house in the Australian state of New South Wales that achieved the highest overall price, selling for the equivalent of CZK 1.6 billion. Ghosh also mentioned other cities, like Hong Kong, Malibu, New York, or London, which has the highest concentration of luxury properties along with buyers who are willing to invest in them. Christie’s has also taken note of interesting developments in Paris and Amsterdam, where the prices of high-end properties are rising together with the increased demand for them. In Paris at the beginning of the year, Christie’s registered a record-breaking achieved price of CZK 1.024 million per sq. m. At the end of her presentation, Ghosh spoke about Prague, where the most expensive price per sq. m. in the history of transactions realized by the Svoboda & Williams real estate agency was an apartment in the historic center of Prague, which went for CZK 329,000 per sq. m. last year.