The world's wealthiest property hunters descended on Monaco during the recent Formula One Grand Prix weekend, sending real estate searches soaring and helping drive the city-state's housing market to new record highs.
Global luxury rental markets are entering a more measured phase after a post-pandemic boom, with rental growth stabilizing across key international cities, according to property consultancy Knight Frank.
Global super-prime real estate--homes sold for $10 million or more--surged into 2025 with strong momentum, as rising wealth and investor appetite fueled luxury transactions across key global cities.
According to the latest data from Knight Frank, prime rental growth across 16 key cities slowed in the final quarter of 2024, with rents rising by 2.2% over the past year -- the slowest pace in more than three years.