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Old 03-30-2015, 10:36 AM
 
6,795 posts, read 6,608,299 times
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Paris would also be flyover on that map lmfao. That map is meaningless. Paris is a top 4 city in the world with a ton of rich people and real estate.
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Old 03-30-2015, 10:57 AM
 
10,847 posts, read 10,614,462 times
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Quote:
Originally Posted by J R View Post
Listings of homes priced $10 million and above

Manhattan: 612
The Hamptons: 253
Miami-Dade: 239
Los Angeles County: 177
Greenwich:45
Aspen: 42
Naples: 37
Palm Beach: 28
Dallas: 20
Westchester County: 19
Honolulu: 19
Marin County: 17
Santa Clara County: 16
Atherton: 12
Brooklyn: 10
La Jolla: 10
San Francisco: 9
Santa Barbara: 9
Atlanta: 9
Newport Beach: 6
Houston: 6
Washington, DC: 6

Obvious which cities appeal most to the world's super-rich.
Seriously, it is a very incomplete list... Does it only include western countries?

First of all, cities like Beijing and Shanghai definitely have more than 20 homes priced above $10 million. For Christ sake, even condo price is about $1500-1600/sf in central Beijing/Shanghai. Many luxury condos and suburban homes are well above $10 million.
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Old 03-30-2015, 12:35 PM
 
Location: Dallas
282 posts, read 257,916 times
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Quote:
Originally Posted by botticelli View Post
Seriously, it is a very incomplete list... Does it only include western countries?

First of all, cities like Beijing and Shanghai definitely have more than 20 homes priced above $10 million. For Christ sake, even condo price is about $1500-1600/sf in central Beijing/Shanghai. Many luxury condos and suburban homes are well above $10 million.
Is this a Chinese website?
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Old 03-30-2015, 12:38 PM
 
Location: Dallas
282 posts, read 257,916 times
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Quote:
Originally Posted by Ant131531 View Post
Paris would also be flyover on that map lmfao. That map is meaningless. Paris is a top 4 city in the world with a ton of rich people and real estate.
I agree, Paris is absolutely fabulous and a top 3 city for me, but rich people seem to be avoiding Paris like the plague these days. Something to do with taxation.

In any case, Paris has a respectable ranking in terms of billionaires.

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Old 03-30-2015, 12:47 PM
 
9,090 posts, read 5,427,950 times
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Quote:
Originally Posted by J R View Post
Keep at subject. We aren't talking about middle-class homes, we're talking about UHNWI level homes. San Francisco only has 9 homes priced above $10mm lol. Such a paltry number, but not really surprising because San Francisco isn't a place that appeals to fabulous people.

SF has a lot of local demand from it's robust middle-class but is there any interest from the 198,000 UHWNI worldwide? Between this and the Knight Frank survey, it's looking like a negative.

It's very amusing how the combined sum of all of those Bay Area counties barely has more $10mm homes than NAPLES! And that's not even getting to Miami. Hahahahahah

You failed to factor in the different housing stocks of each region.

In Miami-Dade, a mega-rich might spend $10+ million on a huge mansion with car ports, pool, theatre room, gym, etc.

In San Francisco, where land is in much tighter supply and many houses were built nearly a century ago, the supply is different. The mega-rich would more likely spend $2-3 millions on a 1,500 sq ft 2 bedroom condo on top of Nob Hill.

Plus, the size of San Francisco itself is tiny compared to other regions. The entire housing stock of San Francisco is less than the other regions.

If you sort things by Price/Sq ft, I think you'll get Manhattan and San Francisco at the very top.
.
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Old 03-30-2015, 07:03 PM
 
Location: Miami Beach, FL/Tokyo, Japan
1,699 posts, read 1,485,604 times
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Quote:
Originally Posted by 18Montclair View Post
Normal people please note this is largely tongue-in-cheek...
Quote:
Er, you fly commercial? That is so ghetto.

Haha
Quote:
Oh, and SF has wayyyy more people who can afford a $9,000( yawns) plane ticket than Miami. As if.
If you want to save up so you can afford that ticket, come to Miami Beach, I can use some landscaping and gardening of my courtyard. I'm not currently happy with the Cuban I'm paying
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Old 03-30-2015, 07:13 PM
 
Location: Miami Beach, FL/Tokyo, Japan
1,699 posts, read 1,485,604 times
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Originally Posted by beb0p View Post
In San Francisco, where land is in much tighter supply and many houses were built nearly a century ago, the supply is different. The mega-rich would more likely spend $2-3 millions on a 1,500 sq ft 2 bedroom condo on top of Nob Hill.
No. Just no.

When you buy luxury real estate you're already paying well above the premium of land. Land is not the limiting factor in the price anymore but the demand for the market. And in Miami the demand is higher. The demand is driven by UHNWI. A million dollar home is not "luxury", even a 5 million dollar home I wouldn't exactly consider part of this ultra luxury real estate driven marketplace. You're talking a market driven by the smallest and most successful portion of our society.

San Francisco's market is driven by the successful of her industry, the Tech industry. Miami's is drive by every UHNWI in the world.

Quote:
The study also found that Miami is one of the most expensive cities in the world for prime residential real estate. The city comes in 11th in the world for the most expensive real estate based on apartments based on the amount of luxury space $1 million will buy. In Miami, $1 million buys on average 59 meters, or 635 square feet. The most expensive? Monaco, where $1 million snares 17 square meters of luxury property, or just under 183 square feet.
Obviously the big players will be more expensive (besides Monaco we're talking NYC, Hong Kong, London, Tokyo, Singapore, Paris, Moscow, Cote d'Azur etc).
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Old 03-30-2015, 07:41 PM
 
Location: East Central Pennsylvania/ Chicago for 6yrs.
2,539 posts, read 2,319,603 times
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Originally Posted by SDPMiami View Post
No. Just no.

When you buy luxury real estate you're already paying well above the premium of land. Land is not the limiting factor in the price anymore but the demand for the market. And in Miami the demand is higher. The demand is driven by UHNWI. A million dollar home is not "luxury", even a 5 million dollar home I wouldn't exactly consider part of this ultra luxury real estate driven marketplace. You're talking a market driven by the smallest and most successful portion of our society.

San Francisco's market is driven by the successful of her yindustry, the Tech industry. Miami's is drive by every UHNWI in the world.

Obviously the big players will be more expensive (besides Monaco we're talking NYC, Hong Kong, London, Tokyo, Singapore, Paris, Moscow, Cote d'Azur etc).
I don't know why you need to lessen San Francisco??? To boost and brag for Miami? Miami city is just lucky it has a total Resort across a bay? In Miami Beach. To lessen San Francisco? Because it attained its level and value over many decades through the 20th century? Says NOTHING IS SUPERFICIAL THEN, AND IS NOT BASED ON MERELY HAVING VERY NICE BEACHES??? All Florida does and much of the California coast. Or SF having Silicon Valley nearby? Which is more new. SF had stature before Silicon Valley was.

All cities deserve the RESPECT of their stature level and success of MANY ATTRIBUTES. Not merely a economy based on TOURISM and boosting international tourist spending a week there on Vacations? Or buying a Condo to spend longer in Winterless Miami Beach, or Downtown Miami city??

San Francisco is the WHOLE PACKAGE and my favorite city of Chicago.... let me slip in.

What is this .... VIRTUALLY ONLY THIS UHNWI survey? You boost in so many threads for Miami? As if the only valid, or important sight to you? Many post valid statistics in their other sights posted? You lessen them if Miami..... isn't in the top 10? San Francisco makes Top 10 list in so many sights?? It can't be lessened.

This from usually me defending Chicago as my favorite Big City not SF.
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Old 03-30-2015, 07:52 PM
 
Location: Miami Beach, FL/Tokyo, Japan
1,699 posts, read 1,485,604 times
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Originally Posted by steeps View Post
VIRTUALLY ONLY THIS UHNWI survey?
First of all the Knight Frank Study is not only a survey but rather also a look into how they spend their money.

But that's besides the point, we're not discussing this study, here. This thread is about luxury real-estate, go back to the OP and see that besides NYC, Miami leads the USA on luxury real estate. That's completely independent of the Knight Frank Study.

If you like San Francisco more, that's great. But also completely irrelevant to the topic.
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Old 03-30-2015, 07:55 PM
 
9,090 posts, read 5,427,950 times
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Quote:
Originally Posted by SDPMiami View Post
No. Just no.

When you buy luxury real estate you're already paying well above the premium of land. Land is not the limiting factor in the price anymore but the demand for the market. And in Miami the demand is higher. The demand is driven by UHNWI. A million dollar home is not "luxury", even a 5 million dollar home I wouldn't exactly consider part of this ultra luxury real estate driven marketplace. You're talking a market driven by the smallest and most successful portion of our society.

San Francisco's market is driven by the successful of her industry, the Tech industry. Miami's is drive by every UHNWI in the world.

The naivety here is that people like you focus only on price instead of the total package. I know several UHNWI, one of my friends has a mansion in Malibu, a two bedroom condo in San Francisco, a mansion in Macau, a villa in Portugal, and a two bedroom condo in Hawaii. Different cities command different dwellings, just as different climate necessitate different clothing. You, on the other hand, are only honed in on the price - "hoooo, $1 million, $5 million, $10 million...." - imagine if someone had said, "There are no rich people in Miami because I don't see anyone wearing mink coat at the beach!" Yeah, it's that level of ignorance.

Who do you think is paying $2M for a 1,200 sq ft condo? Everyday Joe? That's why real estate is evaluated on a price/sq ft basis. You obviously get more bang for the buck paying $10M for a 10,000 sq ft mansion than $2M for a 1,200 sq ft condo.

I do agree that Miami's expensive real estate is primarily driven by UHNWI because it doesn't really have a booming industry of its own. But just because SF has a great industry doesn't mean UHNWI is not attracted to it.
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