Tag Archives: Bedford Corners NY
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Global luxury real estate market showing ‘strong momentum’ | Bedford Corners NY Homes
The international luxury real estate market remains relatively immune to the economic and political trends that drive the general housing market and is off to strong start in 2013, according to a report from high-end real estate affiliate network Christie’s International Real Estate.
The report compared 10 top property markets around the world: London, New York, Hong Kong, Paris, San Francisco, France’s Cote d’Azur, Toronto, Dallas, Los Angeles, and Miami. The company, a subsidiary of Christie’s auction house, also rolled out a new index, the Christie’s International Real Estate Index, which ranks markets across metrics such as record sales price, prices per square foot, percentage of non-local and international purchasers, and the number of luxury listings relative to population.
The 10 markets were also chosen for the network’s strong market share locally. Christie’s International Real Estate has 125 affiliated brokerages in 41 countries.
London, which topped the index, achieved a record sales price of more than $121 million for a residential property in 2012, followed by an $88 million sale in New York. In all of the cities studied except Dallas and Toronto, the highest sales price for the year exceeded $35 million, the report said.
Economist Robert Shiller has predicted U.S. home prices will rise only one or two percent a year in inflation-adjusted terms for the next half decade due to “lingering uncertainties” in world economies, the report said. By contrast, a study by the The Boston Consulting Group expects global sales of personal luxury goods, such as fine art, to grow about 7 percent annually through 2014, assuming there are no new major economic crises, the report added.
“Except where there is government intervention luxury residential real estate values will likely follow luxury goods and not the general housing market, and are therefore poised to increase in many of the cities studied in 2013,” the report said. “This is particularly true as (high-net-worth individuals) turn their luxury investments toward nonconsumables and experiential luxury products that have lasting value.”
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C21, Re/Max and Coldwell Banker most recognized brands | Bedford Corners Real Estate
Century 21, Re/Max and Coldwell Banker are the most recognized real estate brand names used by brokerages, according to an online survey of U.S. homebuyers and sellers commissioned by Century 21 and conducted by Millward Brown, a global brand research company.
The multiple-choice survey, which polled 1,204 randomly selected U.S. adults who have either bought or sold a home in the past two years or plan to buy or sell a home in the next two years during two separate two-week periods in 2012, showed that 96 percent of respondents had “seen or heard of” Century 21.
Re/Max, Coldwell Banker and Prudential rounded out the top four with 91 percent, 86 percent and 70 percent of respondents, respectively, indicating that they had ever “seen or heard of” the brands.
A similar survey by Millward Brown last year showed Century 21, Re/Max and Coldwell Banker retaining similar leadership positions in brand awareness.
Other brands in the poll, which was conducted Feb. 5-19, 2012, and Aug. 12-26, 2012, were Keller Williams, ERA, Real Living, Realty Executives and Weichert, Realtors.
Brand Percentage who “have ever seen or heard of” the brand Century 21 96% Re/Max 91% Coldwell Banker 86% Prudential 70% Keller Williams 44% ERA 42% Real Living 24% Weichert, Realtors 20% Realty Executives 16% Source: Millward Brown 2012 real estate brand research study
Article continues belowThis year’s survey marked the first time respondents were asked to identify the “most respected” brand in the real estate industry. Century 21, Re/Max and Coldwell Banker also topped this list.
Brand Percentage who selected the brand as “the most respected in the industry” Century 21 22% Re/Max 17% Coldwell Banker 16% Prudential 12% Keller Williams 11% Weichert, Realtors 8% Realty Executives 8% Real Living 7% ERA 5% Source: Millward Brown 2012 real estate brand research study
Respondents were also asked how likely they were to recommend one of the leading brands to someone else. Century 21 revealed only whether more or less than 25 percent of respondents would recommend a brand.
Less than 25 percent said they would recommend Coldwell Banker, ERA, Keller Williams, Prudential, Realty Executives or Weichert. More than 25 percent of respondents said they would recommend Century 21 or Re/Max.
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