If you are interested to invest in luxury real estate market, you could find more bargains in U.S. than the other countries. The U.S. is cheaper than China when it comes to home prices in its luxury market.
Instead, luxury home prices in Guangzhou, the capital of the southern province of Guangdong, rose a whopping 36.2 percent from March 2016 to March 2017, according to Knight Frank’s first-quarter Prime Global Cities Index, which ranks the top 5 percent of luxury real estate sales in 41 large international cities.
Meanwhile, the U.S.’s increases in the same period may seem more modest. The top four U.S. cities included in this ranking are Miami (at number 14 on the list with a 4.1 percent year-over-year price increase), Los Angeles (prices up 2.5%), San Francisco (prices up 1.8%), and New York (prices up 1.7%).
Luxury real estate buyers may find bargains in the U.S. compared to the rest of the world. The U.S. is hardly the most expensive when it comes to home prices in its luxury market. Read more: More Ultra-Luxury Sellers Face ‘Stale’ Listings Instead, China takes the world crown in that arena for the fastest-rising prices in luxury residential real estate around the world.