House prices in the mega-popular Hamptons area of New York have hit an all-time high.
A new report Douglas Elliman and Miller Samuel found that in the fourth quarter, the median house sale price for the Hamptons reached US$2.34 million, an increase of 34% year-on-year.
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Join nowSales above $5 million were also the highest on record.
The Hamptons, a coastal area past Long Island, is a hotspot for the rich and famous to holiday, with this latest sales boost coming from hedge funders, and those with tech wealth, according to real estate brokers.
Real estate brokers also reported that the Hampton's rental market for this year is going strong as well, with many holidaymakers opting to do annual leases of a beachside property, rather than outright buying.
