For the second year running, Hong Kong has seized the top slot in our Luxury Index rankings. With two residential sales above $100 million and significant annual growth in luxury home sales, Hong Kong led in almost all categories and once again set new sales price records for the region.
Coldwell Banker Pacific Properties notes that the number of luxury condos and single-family homes priced at $1.5 million and above that are in escrow is 50 percent higher than a year ago, with 99 transactions awaiting closing, compared to 66 at this time last year.
The Howard Hughes Corp. is taking a slightly different approach with sixth mixed-use tower in Honolulu, called Koula, by reserving all of the ground floor of the 570-unit tower for commercial space and moving the lobby and other residential services to the second floor.
Sales of condominiums on Oahu rose by single digits last month, along with median prices for both single-family and condo properties, while sales of single-family homes slowed, according to statistics from the Honolulu Board of Realtors.
Ala Moana Center is valued at $5.74 billion, making it the most valuable real estate investment trust-owned mall in the United States, according to a new study by boutique research firm Boenning & Scattergood.