According to the just-published 2023 edition of The Wealth Report—Douglas Elliman and Knight Frank’s flagship report—London and New York remain the critical cities for the world’s wealthy, with more ultra-prime property transactions ($25m+) in 2022 than in any other global market.
Forty-three transactions above this level took place in each city last year, representing a 26% increase in sales in London compared to 2021, but a 35% decline in New York. Los Angeles comes in third place with 39 sales, with Hong Kong (28) and Miami (23) making up the top five.
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