Global Luxury Property Market on the Rise

The global luxury property market is booming, with millions of pounds being spent on high-end properties around the world.

Family offices and high-net-worth individuals are driving the demand for luxury properties, with 44% of family offices worldwide looking to increase their exposure to property.

Luxury property markets are popular with international investors, with bustling cities and idyllic holiday destinations attracting buyers.

In the US, New York and Los Angeles are competing for prestige sales, while in Europe, London, Rome, and Paris are the top destinations.

Dubai, Singapore, and Cape Town are also magnets for the wealthy, while Caribbean properties remain in high demand for those seeking sun, sea, and sand.

Malta, a relatively new European hotspot, is gaining popularity thanks to its citizenship schemes that enable wealthy investors to establish residency in the European Union.

The advantages of buying luxury property through an auction include transparency, potential to secure the property at an attractive price, and quick and open process.

Many luxury property auctions are still conducted in the traditional way, but online auctions are increasingly frequent, offering a more convenient option for buyers.

Buyers should research the property's background, including any potential issues or concerns, and have a solid understanding of the financial implications involved.

Careful planning and preparation are essential to navigating the luxury property market with confidence, and buyers should get everything lined up beforehand and have a decision in principle in place.