The bar chart compares the number of homes sold for more than 5 million US dollars in eight major cities in 2009 and 2014.
Overall, it is clear that the number of houses sold for over 5 million dollars increased in nearly all cities albeit at varying rates, except for Singapore, where the figure declined. London and New York recorded the highest sales, with London experiencing the most significant growth, while Dubai consistently had the lowest numbers in both years.
The most significant increases in luxury home sales were recorded in London, New York and Hong Kong. In London, sales rose sharply from around 500 in 2009 to roughly 1600 in 2014, making it the top city in both years. New York also saw a considerable growth, with figures increasing from just over 400 to 800. In Hong Kong, there was a noticeable increase in the number of homes sold, rising from 400 to 600 by the end of the period.
In contrast, cities such as Miami, Los Angeles, Sydney, and Dubai witnessed more moderate growth in the number of luxury homes sold. Miami’s figures rose from roughly 220 in 2009 to nearly 300 in 2014, while Los Angeles experienced a similar rise, from around 200 to nearly 220. Sales in Sydney also increased, although modestly, moving from around 180 to about 240. Dubai, despite having the lowest figures overall, saw a steady increase from about 10 sales to nearly 40 high-value property sales.
Body 3 Singapore was the only city where sales of high-end homes declined over the period. In 2009, around 100 properties valued at over 5 million dollars were sold in the city, but this figure fell marginally to approximately 70 by 2014.