Seoul to Lead World in Luxury Home Price Growth in 2026

Last year closed with Seoul and Tokyo leading other cities around the world when it comes to luxury home value growth. That trend is expected to continue this year, with the South Korean capital topping other cities.

Seoul luxury market prices are expected to grow between 6 and 8 percent in 2026, Mansion Global reported, citing a new report from Savills. That would build on the 14 percent appreciation that high-end properties in the city saw last year.

Seoul is followed by Tokyo and Madrid, each predicted to see a rise of 4 to 6 percent in luxury home prices. Lisbon and Cape Town could post similar numbers this year, adding to their 2025 momentum. Miami and Paris’ high-end markets are each expected to see increases between 2 and 4 percent, while New York and Dubai follow with 0 to 2 percent price growth forecast.

Cities in the United States, along with some European metros like London and Athens, could see either flat or moderate price growth between 0 and 4 percent. Los Angeles, San Francisco and New York could see increases of up to 2 percent. Miami’s moderate price growth comes as the coastal city’s luxury market recovers from a 6.4 percent drop in 2025.

Beijing and Shanghai, meanwhile, could see value losses of 2 to 4 percent as China continues to face declines across the board following last year. Every Chinese city included in the report is projected to see luxury housing prices fall up to 4 percent. “With 22 consecutive months of year‑on‑year declines recorded across all surveyed cities, sentiment remains fragile, and a meaningful recovery in 2026 appears unlikely,” Savills said of the Chinese sector.

Overall, luxury property values around the world are expected to rise 1.3 percent this year, marking a slight tick downward from 1.8 percent growth in 2025 as the global market “continues to grapple with mixed sentiment and structural supply limitations,” per Savills.

— Chris Malone Méndez