Debt crises and recession have not largely affected the luxury real estate market

In most economies debt crises and recession have not largely affected the luxury real estate market, as the wealthiest people in every market keep on investing in high end real estate.  In our own experience most of them pay cash.  The International Luxury Residential Report presented by Christie´s International Real Estate at their annual conference in London, shows that buyers' optimism is slowly increasing with more than 67% of its agents and affiliates reporting an increase in activity in the first eight months of 2011. 
Scarcity of property is driving up prices especially in top cities such as London, Paris, Hong Kong, New York and Beverly Hills.
This is a key statement:  They point out that the very best property in the world’s most desirable locations will sell whatever is happening in the world economy and property is still seen as a safe haven when stock markets and equities are more volatile.
  • Top performing real estate sales are in countries with an abundance of natural resources and favorable fiscal policies
  • Scarcity of property is driving up prices especially in top cities such as London, Paris, Hong Kong, New York and Beverley Hills
  • Cash continues to be the most popular means of payment, according to 87% of the affiliate network
  • Top buyers are from Russia, China and the Middle East
  • The challenge in the luxury market is a lack of quality properties
  • Location, lifestyle and sentiment are equally important as value and in some cases even more so
Costa Rica happens to be a favorite destination for nature lovers and high end buyers looking at buying unique pieces of property, the main problem we have encountered is the lack of inventory to satisfy that clientele.  Buyers in the million dollar range are specifically looking at unique architectural work, privacy, nature, views, good access roads and services.

Yalile Alpizar, President/Broker/Owner
Costa Rica Leading Estates CLE S. A.
Exclusive representatives of
www.prestige-mls.com
LOL Team of Experts
email:  yalile@clecr.com
http://www.costaricamilliondollarhomes.com
http://www.costaricaluxuryestates.com
http://www.costaricaluxuryvacationrentals.com/
http://www.atcostaricarealestate.com
Phones:  (506) 2235-7779  Cel:  (506) 8861-1515  


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