The Institute for Luxury Home Marketing reported that sales of homes priced at $5 million and above rose in 2006. There were at least 10 buyers throughout the U.S. who were eager to spend $28 million or more for luxurious residences last year.

This development could have been brought about by good business turnouts. Waco Moore, vice president of the institute said, “Strong corporate profits, good news on Wall Street and global commodities boom helped grow fortunes and sparked a surge of demand for trophy homes in 2006.”

"Final numbers aren't in, but estimates are that the U.S.'s 2006 sales of homes priced at $5 million and above were up about 11% over 2005," he said

Moor predicts that recent Wall Street bonuses would trigger more sales of luxury homes in New York in 2007. The news release enumerated some expensive homes currently for sale such as the $139 million Updown Court in Windlesham, England, near Windsor Castle which includes 103 rooms, five pools and heated marble driveway. Also for sale is Donald Trump’s property in Palm Beach, Florida priced at $125 million; a retreat in Aspen, Colorado owned by a Saudi Prince for $135 million; a waterfront estate with views of Lake Tahoe for $100 million; and a waterfront home in Istanbul for $100 million.


Ma. Roma C. Agsalud

http://www.miamirealestateinc.com