21 Dec '12, 7am

Boom year for super-prime US properties #PR

While the US property market is slowly moving back to a healthy level following the aftermath of the 2008 financial crisis, the super luxury segment has been surging due to hot demand from billionaires. In 2012, this group snapped up multi-million dollar mansions and penthouses creating record-breaking sales. In Miami, an anonymous Russian buyer forked out US$47 million (S$57 million) for a 30,000 sq ft modern mansion back in August. Located at 3 Indian Creek, the property boasts an auto showroom and entire “spa pavilion”. But no other US city has come close to the sky-high prices in New York, especially the apartment buildings near Central Park in Manhattan. In February, Russian billionaire Dmitry Rybolovlev purchased a US$88 million (S$107 million) penthouse for his daughter. The price translates to about US$13,000 psf (S$15,861 psf), the highest psf price paid in the co...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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