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Forbes: Neighborhoods Where $10 Million Homes Are The Norm

So why are wealthy buyers shelling out tens of millions on property now?

“I think there has been an influx of foreign buyers and they want to put their money in hard assets in our country,” says Jill Eber of The Jills, adding that wealthy domestic buyers have been house hunting as well. Betty Graham, president of Coldwell Banker Previews International, seconds this sentiment in a statement: “The luxury real estate market is becoming more global and interconnected than ever before. In the U.S., we are seeing an influx of international buyers from across the world, including Asia, Russia and Brazil, especially in coastal markets in the Los Angeles and Miami areas.”

Other neighborhoods wooing moneyed buyers to closing tables lie in New York City’s Manhattan borough. The Upper West Side’s 10023 ZIP code welcomed 24 sales, most notably in billionaire-centric 15 Central Park West, and the Upper East Side’s 10021 ZIP code had 59 super luxury listings as of June, including the $90 million Woolworth Mansion that recently de-listed and returned to market as a $150,000-per-month rental.


More from Forbes:
Giant Homes For Bargain Prices
Incredible Open-Air Homes
Foreclosure Woes Of The Rich And Famous

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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