Despite a downturn in the stock market, Manhattan's ultra-luxury residential market is witnessing significant growth, particularly for properties priced above $20 million. The first quarter of 2025 marked the best performance for this segment in six years, with a substantial portion of sales conducted in cash. Increased demand from ultra-high-net-worth clients, driven by limited inventory and a migration of wealth from financial markets to real estate, suggests a strong rebound. Further analysis shows an overall improvement in New York City's real estate market, with sales and total transaction values notably rising year-on-year.
The stock market may be down, but Manhattan's ultra-luxury residential market is looking better than it has since the pandemic.
According to a cited Compass report, Manhattan's ultra-high-end luxury real estate market had its best first quarter in six years.
Limited high-end inventory and clients' desire to move money from financial markets into real estate play heavily into the recent wave.
Gary mentioned that people always feel Manhattan real estate is a safe bet and a hedge against inflation, especially amid stock market volatility.
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