Palm Springs' luxury housing market is cooling after a pandemic-era boom, with home prices falling, properties taking longer to sell, and significant price cuts observed on upscale homes. The market, once fueled by low mortgage rates and remote work, now shows signs of balance with increased inventory.
Billionaire Steve Wynn has relisted his exclusive New York City duplex penthouse at the Ritz-Carlton Residences on Central Park South for $70 million, the price he originally paid in 2012. After failing to sell it for $90 million in 2022 and later reducing the price, the property is back on the market, reflecting trends in the ultra-luxury real estate sector.
Despite a new tax on second homes in New York City, luxury real estate sales remain robust with falling inventory. Contracts signed for apartments $4 million+ are up year-over-year, and average Manhattan apartment prices hit a second-highest level. Wealthy buyers are driven by market liquidity and asset price gains, outweighing tax concerns.
Dans les arrondissements les plus chers de Paris, les prix immobiliers oscillent entre 12 000 et 20 000 €/m², atteignant 30 000 € pour les biens d'exception. La demande reste forte, mais certains biens se vendent plus difficilement. Les acheteurs privilégient les appartements lumineux, en étage élevé, avec ascenseur et dans des adresses prestigieuses.
The Knight Frank Wealth Report reveals $1 million buys just 16 sqm in Monaco, down from 17 sqm in 2020, making it the world's most expensive luxury market. Global prime real estate prices rose 3.2% in 2024, outpacing mainstream housing growth of 2.9%. Dubai surged 25% in 2025 and Tokyo jumped 58%, while the ultra-wealthy are increasingly mobile, driven by rising tax and regulatory pressures toward tax-friendly jurisdictions like Miami, Milan and Dubai.
