Residential sales above US$10 million in the 12 cities covered by the Douglas Elliman | Knight Frank Global Super-Prime Intelligence Report totaled 422 in Q2 2023. This number was 11% below the 475 recorded in Q1 of this year and 13% below the 483 sales seen in Q2 2022.
Higher interest rates have impacted all levels of the global housing market, and the luxury segment is not immune. That said, sales in the 12-month period up to June of this year (totaling 1,638 globally) are still running well ahead of the levels seen pre-pandemic (1,009 in 2019).
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