We are pleased to present the Christie’s International Real Estate 2025 Global Luxury Real Estate Forecast, our yearly report exploring key questions, insights and trends shaping luxury real estate around the world in the coming year.

The new year brings renewed optimism from Christie’s International Real Estate affiliates, many of whom predict continued luxury demand along with additional inventory in their respective markets. While we hope this rings true, we know the outlook is contingent on a multitude of factors, not the least of which are mortgage interest rates, which remain at elevated levels, at least in the U.S. But other factors bode positively for luxury real estate in the coming year. Equities did well for investors in 2024, with the S&P 500 index coming off its best two-year run in more than 20 years. The report’s Regional Market Forecast delves into the microtrends impacting some of the world’s top luxury markets from the point of view of our local Christie’s International Real Estate owners and agents.

This year’s report also highlights four luxury markets to watch in the coming year, including Madrid, Perth, the Balkan region, and the New Jersey coast in the U.S. These emerging and in-demand markets entice home buyers and investors with local incentives, a high quality of life, strong potential for appreciation and return on investment.

Our report also offers a closer look at developing trends for 2025, from a shift to heritage architectural styles, to a heightened focus on privacy and security, to some of the newest and most requested luxury amenities. We also examine the impact of climate on the real estate market in cities around the globe and look back on some of our network’s top sales in 2024.

The strength of the Christie’s International Real Estate brand lies with our network of affiliates, and we are incredibly proud to partner with a growing list of leading luxury firms around the world. Over the past year, we brought our exceptional client service and international reach to 21 new markets, including Singapore, Thailand and Vietnam; Luxembourg, Bulgaria and Albania; and two of the world’s leading wine regions, Napa Valley and Western Australia. Several exciting announcements are already on tap for early 2025. Meanwhile, we continue to nurture our partnership with Christie’s auction house, facilitating two-way referrals benefitting clients looking to purchase or sell real estate, fine art and luxury goods.

We are happy to share the 2025 Global Luxury Real Estate Forecast with you, and we thank all of our affiliates who provided insightful data and commentary. Please visit christiesrealestate.com and follow us on social media for more information, and the world’s finest luxury properties.

Sincerely,

Thad Wong and Mike Golden, co-CEOs

Christie’s International Real Estate