Luxury home prices were up and closings on some of the world's most beautiful properties picked up in the second quarter, bringing good news to those offering premium real estate in the U.S. and abroad.
"The luxury real estate market appears to be vibrant in many places domestically and internationally," said Robbie Briggs, president and CEO of Briggs Freeman Sotheby's International Realty in Dallas, in a real estate.
"In my experience, buyers are coming in with strong offers of cash or heavy down payments. For the first time in a long time, I see homeowners with renewed confidence in the second quarter, thanks to lower interest rates."
In Manhattan, people are buying co-ops and condos at top prices, and a penthouse on 57th Street just sold for more than $90 million - a record sale for New York City, according to Royce Pinkwater.
Attracting buyers from around the U.S., Brazil and other countries, the Miami market has seen price per square foot rise 18 percent over the past year, and sales were up 66 percent in the first quarter, said Mayi de Ia Vega.
"In talking to many associates in Europe, I'm hearing about record-setting sales prices in Sweden and increased interest from Americans and Russians looking at villas in Italy," Briggs said. "On top of that, the European debt crisis has driven the world's super-rich to seek stable investments in high-end properties in London.
"It all tells me that global prospects for luxury home sales are gradually strengthening."
