US luxury properties still a hot investment for the wealthy

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While home buying for most of the US has decreased in the month of March, there still seems to be an interest among wealthier Americans for luxury home purchases. Knight Frank Global Head of Research Liam Bailey explains that despite rising interest rates, luxury markets have seen prices for residential property rise over the past six to nine months due to limited inventory. The report also reveals that 22% of wealthy individuals plan to invest in residential property this year, and 19% in commercial property. The luxury real estate market has become more globalized, with US buyers impacting demand and pricing in markets such as London, Lisbon, Spain, and Italy. The office market has split into two, with a high demand for best-in-class offices and a lack of quality stock available. The weaker sector of the office market is struggling. Wealth creation is back, with more wealthy individuals globally due to the performance of equity markets and cryptocurrencies.

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https://finance.yahoo.com/video/us-luxury-properties-still-hot-130043047.html