Spotlight: Monaco – 2024
"While not immune from global events and trends outside its borders, Monaco continues to punch above its weight, maintaining its position as the world’s most expensive prime property market in 2023"
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"While not immune from global events and trends outside its borders, Monaco continues to punch above its weight, maintaining its position as the world’s most expensive prime property market in 2023"
"For international buyers, a property’s purchase price is only part of the cost equation"
"Inflationary pressures and difficult market conditions in the prime residential markets across the globe lead to a subdued set of growth performance figures in 2023"
"In the face of economic uncertainty, prime residential pricing proved resilient in 2023, though at lower levels of price growth than seen in the immediate aftermath of the pandemic, with average increases of 2.2% across the index"
"Savills Prime Residential Index: World Cities monitors the performance of prime residential property across 30 global cities; tracking capital, rental and yield values. Average growth in 2023 was 2.2% for capital values, while rents grew at 5.1% on average"
"Prime Scottish sales have picked up post-summer, with prices holding steady. Looking ahead, the market will continue to be supported by cash purchases. But with more choice for increasingly discerning buyers, appropriate pricing is now essential to maintain the rate of agreed sales"
"Cash buyers have supported activity across prime London, but the market remains price-sensitive as buyers’ budgets have come under pressure. As such, sellers who are most prepared to be realistic on price will likely garner the best end result"
"Market uncertainty and economic fluctuations has led to a price-sensitive market. Committed sellers will need to price sensibly to generate the most interest"
"Autumn has traditionally been a popular time to put a home on the market. The rise of the cash-rich buyer is a common theme across many markets, with buyers relying less on debt. Does this mean the prime market has continued to function better than expected?"
"Debt and equity have shaped the sales and rental markets this year – what do we expect to see this autumn?"