Penthouses in New York are still in demand as according to the recent Knight Frank report which puts the Big Apple at the world's top spot for super-luxury properties
The post New York Snags The World?s Top Super-Luxury Property Market Spot appeared first on LUXUO.

 

According to the most recent index from Knight Frank, New York continued to hold the top spot in the globe for super-luxury housing markets last year, but it had to share the honours with London. There were 43 transactions worth US$25 million or more in both locations. In contrast to New York, where the number was down 35 per cent from the previous year, London saw a 26 per cent rise from 2021.
Liam Bailey, global head of research at Knight Frank, stated in the report released on Wednesday that “despite rising economic headwinds and growing uncertainty, the world’s wealthy have been committing to luxury residential property,” with London and New York being the standout cities in demand for ultra-prime sales. Los Angeles claimed the third position with 39 purchases costing US$25 million or more. Even though it had a turbulent year for its property market, Hong Kong came in second with 28 ultra-prime sales, followed by Miami with 23. These cities also had the most sales of US$10 million or more in 2022, which is not unexpected. According to the report, New York topped the list with 244 sales at this price range, followed by Los Angeles with 225 and London with 223.
There were a total of 1,3...