Luxury

Luxury
Chinese buyers fuel US$3 billion HK luxury home spree
Hong Kong’s ultra-luxury property market has experienced a US$3 billion buying spree in the past 19 months, with mainland Chinese buyers accounting for approximately 80% of the 35 transactions valued at HK$300 million or more, according to property consultancy Savills. This shift in ownership reflects a transition from local property-industry tycoons to mainland investors who have amassed wealth in emerging sectors such as artificial intelligence, fintech, gaming, healthcare, and logistics. Thomas See, Savills’ director and head of residential sales, noted that these buyers primarily hail from industries that either thrived during or post-pandemic. Among the super-prime properties, 24 were situated on Hong Kong Island - including prestigious locations such as The Peak, Jardine’s Lookout, and the Southside - while 11 were in Kowloon’s Kai Tak and Kowloon Tong districts. Notable recent transactions include a HK$465.8 million purchase in April by the wife of Meitu’s co-founder, Mike Cai Wensheng. The 5,466 sq ft detached house at 8 Perkins Road in Jardine’s Lookout was acquired at a 22% discount to the HK$600 million asking price. Forbes estimates the Meitu executive’s net worth at approximately US$1.1 billion. In t
Luxury
Luxury property booms on South Africa’s north coast
Luxury real estate is booming on the north coast of South Africa, with Umhlanga Ballito and Durban becoming one of South Africa’s wealthiest regions. This comes as Business Tech reports that the area is expected to see four or five new developments worth around R80 million over the next few years as Umhlanga spends R20 billion to unlock investments in the next three years. EThekwini city manager, Musa Mbhele announced this at the launch of the North Oceans Tower at the Oceans mixed-use development. The R1.4 billion towers are the latest to open in the R4.3 billion (US$240 million) luxury oceans development. Mbhele also announced additional projects worth 80 billion that are expected to launch in the region in the coming years. Durban and its neighbouring areas have also attracted over 3,500 high net worth individuals according to a 2024 Africa Wealth Report published by Helney & Partners and New World Wealth. The region is also home to Zimbali, one of South Africa’s most prestigious estates and has attracted international buyers from the U.K. and Northern Europe. This trend of international buyers has boosted demand for real estate on KwaZulu-Natal’s North Coast, where property prices range from R13 million to
Luxury
LA dominates most expensive US homes sold in June
Los Angeles has dominated the charts of the most expensive homes sold in June. According to Redfin, five of the Top 10 sellers were in California and three were in Beverly Hills. This was led by Paris Hilton’s US$63 million purchase of Mark Wahlberg’s mansion at 71 Beverly Park, Beverly Hills. The home was also ranked as the fifth most expensive home sale in 2025. The Beverly Hills Estates agent Nicole Palxen said buyers displaced by fires remain big drivers of luxury real estate in LA. She says rising demand from foreign buyers, especially from China, is also fuelling deals in Beverly Hills and Bel Air. “I see this strength continuing based on the activity I’m seeing right now,” she told CNBC. “We’ve been showing every single day nonstop.” This comes after Redfin found the Palisades Fires in January impacted US$51.7 billion worth of homes in LA. Home market data also indicates that it will take a while for the affected communities a while to recover. Despite this, there has been a jump in lot sales with June data from the California Association of Realtors (CAR) showing there have been around 172 property or land lots sold in Altadena this year, compared to six at the same time last year. Similarly, the
Luxury
Luxury property market sees record sales in FY2025
The end of the financial year has brought renewed momentum and record sales to the luxury property market around Australia. According to the NAB Luxury Property review, the June quarter saw increased confidence and activity in the market. During the 2025 financial year, there were new record prices in Sydney and Melbourne for existing dwellings and still-to-be-built penthouse apartments being set, with buyers being influenced by macroeconomic performances and financial markets rather than the broader market’s focus on credit settings and interest rates. The majority of purchasers in this market are entrepreneurs and buyers in their 40s and 50s. However, there have been more millennials entering the space seeking innovative technologies and homes with sustainability and wellness-focused facilities. Key amenities are reflecting these trends, with wellness facilities like gyms and saunas becoming a high priority. Sustainability has also become a priority with buyers favouring homes with energy-efficient design and climate-appropriate features. Sydney has remained the premier luxury location in Australia, despite Melbourne making headway with a joint record-breaking sale in October 2024. ‘Elaine’ in Point Piper sold
Luxury
New Zealand's golden visa to boost luxury home market
New Zealand’s luxury home demand is about to rise as wealthy Hong Kongers and mainland Chinese become top applicants for the country’s golden visa program. The golden visa, also known as the Active Investor Plus (AIP) program restarted in April and was designed to incentivise wealthy migrants to invest in New Zealand. As of 28 May, Greener Pasturers New Zealand said the program had received over 100 formal applications, representing an estimated NZ$600 million in committed capital to be deployed across New Zealand’s private sector. The number of applications has now jumped to nearly 200. The top sources are from the U.S., China and Hong Kong. While investing in residential property does not qualify applicants for the scheme, it does allow them to reside in New Zealand and buy their own property. “Almost any number of new high-net-worth individuals buying homes in New Zealand will have a significant impact on the country’s relatively small land and luxury home markets,” said Kashif Ansari, founder and group CEO of real estate broker Juwai IQI. “They will be buying houses in premium suburbs and land for large estates.” Overall, median prices in New Zealand have steadied while the luxury housing sector has faced

Luxury
DiCaprio's A$3.1m RV rivals fellow celeb's mobile digs
When on the set of films, Leonardo DiCaprio lives in style in his A$3.1 million motor home. The trailer was showcased by King Kong Production Vehicles in a Bloomberg video, who also make motorhomes for celebrities like Brad Pitt and Ben Affleck. The RV comes fitted with a luxury shower that rivals those found in a resort. It reportedly costs A$83,558, and took two weeks to install. It also has seven televisions and a luxury wine bar. The RV also features two fireplaces, a large lounge, a kitchen covered in marble, an American-style fridge freezer and a large bedroom with a king-size bed and an ensuite with a shower big enough for two. When DiCaprio isn't using the motorhome, it is rented out for around A$10,5000 per week. DiCaprio’s RV rivals Will Smith’s movie trailer that went viral for being a two-storey masterpiece. Smith’s RV is reported to cost A$3.8 million with a large living space and 14 TVs spread across a 1,200 square foot area. Related contentDiCaprio's $1.5 million RV is like a five-star resort on wheels, it rivals Will Smith's
Luxury
Australia's luxury home prices up 73% since 2015
Luxury housing prices in Australia have risen 72.9% across the past decade, according to a Ray White report. Prices for luxury homes nationwide now begin at A$2.52 million. Sydney is the country’s most expensive luxury market, with the housing price threshold rising by 72.7% in the past 10 years to reach $4 million. “True luxury in real estate combines premium materials, architectural distinction, prime location, and limited availability,” said Ray White senior data analyst Atom Go Tian. "As our data reveals, the concept of luxury continues to transform across Australia’s diverse regions, shaped by changing demographics, wealth distribution, and lifestyle preferences." Sunshine Coast luxury housing prices have grown the fastest of any area, up 133.2% to $2.4 million. Gold Coast prices have similarly increased by 128.1% to $2.6 million, while Brisbane’s rose by 115.8%. Perth’s three luxury suburbs are also all within Australia’s top 10 areas by price growth. The city overall posted a 10% rise in luxury housing prices in the last year, or 69.5% growth in the past decade. Melbourne’s luxury market, meanwhile, has seen slower growth of 47% since 2015. Its luxury housing threshold is now $2.49 million, and was the only m
Luxury
Penthouse on world's narrowest skyscraper up for sale
A luxury penthouse on top of the world's skinniest skyscraper has hit the market for an eye-watering more that A$182 million. The Gilded Age inspired apartment is located at the top of Steinway Tower, an addition to Steinway Hall, which is an impressive 435 metres tall - but just 17 metres wide. This makes the Tower the world's skinniest skyscraper with a height-to-width ratio of 24:1. The new construction began in 2013, was completed in 2022 and is located on New York's Billionaire’s Row, next to the Central Park Tower. Now its five bedroom, six bathroom penthouse is up for sale, with staggering views of the surrounding city thanks to its “quadplex” design. Credit: 111W57 via InstagramArranged over four floors, starting on the 80th storey, the property has two terraces and a multitude of floor-to-ceiling windows throughout to keep the cityscape as uninterrupted as possible. First there is the entertaining suite on the lowest level, before heading further up the crown suite with its full bar and screening room, with marble and velvet adorning each space. To round out the luxury, the penthouse also boasts original artworks by the likes of Pablo Picasso and Henri Matisse on its walls and a 25-metre swimming pool.Cr