2023-11-29-莱坊-Global_Super-Prime_Intelligence_Q3_2023_2页_603kb

Global Super-Prime Intelligence: Q3 2023 Key Summary

Overview

Knight Frank’s Global Super-Prime Intelligence report for the third quarter of 2023 provides a detailed analysis of US$10 million+ residential sales across 12 key international markets. The report highlights a global slowdown but emphasizes the resilience of high-end property markets.

Main Statistics

• Global Super-Prime sales volume decreased by 2.4% year-on-year to 362 units in Q3 2023, with a total value of US$31.7 billion over the most recent 12-month period. This contrasts with a drop to 3.4% for mainstream markets.
• Sales fell to 362 units from 371 in the same quarter a year ago, though volumes in included markets rose 0.25%.
• Dubai led with the highest number of sales and value, followed closely by Hong Kong and London. The market saw activity regaining some strength, with five cities experiencing year-on-year increases.

Key Factors

• New-build completions remain a major driver, offsetting lower purchase volumes in some areas. However, reduced new launches in key cities like London and New York are expected to weaken sales in upcoming quarters.
• Increased finance costs have made super-prime properties less accessible, impacting affordability.
• Overall, the super-prime market shows stronger resistance to economic pressures compared to primary residence markets, maintaining resilience despite global challenges.

Comparison and Insights

• Compared to pre-pandemic levels (Q3 2019), some cities saw sales volumes stabilize or increase, indicating recovery, though finance costs remain a concern.
• Performance was boosted by luxury completions from pre-pandemic schemes, with Hong Kong, Dubai, Geneva, Miami, and Sydney leading in volume growth year-over-year.
• Data indicates a shift in focus toward affordability, but core drivers like international demand and completion numbers continue to shape the market.

Data Notes

The report synthesized publicly available sales information, with aggregate values calculated based on reported transactions and exchange rates at the time of sale. Detailed tables show historical trends and comparisons.