International Luxury Real Estate: The World’s Most Expensive Place to Buy a Luxury Home – Bloomberg Video

New York Luxury real estate sales have been extremely strong in 2012. With apartments at 15 Central Park West, One57 and the Ritz selling or going to contract for over 70 million dollars, some owners in Manhattan are starting to contemplate whether now is the time to sell their luxury coop or condo. Many of people I know who are not buying trophy properties in New York ask me, where is all this money coming from? Is it temporary? From research I’ve done, with the expansion of global economies and the increase the number of super-wealthy individuals in places like the former Soviet republics and Russia, Africa, the Middle East, Asia and some countries in Africa, as well as uncertain economic or political environments are driving high net worth individuals to move their assets to European and American markets like New York, London and the Cote D’Azur in France. Watch this video about the world’s most expensive place to buy real estate.

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