Off-market Property in the Luxury World is Soaring

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Off-market property is growing in popularity in the luxury real estate market as the super-prime market continues to become hyper-competitive and the world’s richest audiences seek discreet sales.

Off-market real estate sales offer several benefits to both the buyer and seller, especially VIPs and celebrities seeking exclusivity and privacy. Super-prime off-market properties are also popular with real estate investors seeking to capitalize on rising property prices.

Read on to learn more about off-market luxury real estate.

What are off-market properties?

Off-market real estate or pocket listings are properties that are available to buy but are not publicly listed or advertised. Craving privacy from prying eyes next door and online, celebrities, VIPs, royalty, and the world’s wealthiest avoid property portals and sell off-market. High-end real estate is exclusive, luxurious, and often in the world’s most desirable locations.

Where are the world’s luxury real estate markets?

Top luxury real estate markets include Monaco, London, Singapore, New York, Hong Kong, Shanghai, and Los Angeles.

For the HNW buyer, location, over geography, matters. Super-prime markets typically offer economic and political stability, robust financial services, and tax incentives that ensure wealthy individuals can protect family wealth.  These super-prime markets also typically provide residents with a lavish lifestyle.

Monaco is the world’s most exclusive real estate market, boasting a significant portfolio of luxury real estate, including apartments, villas, and penthouses.

According to the 2022 Real Estate Observatory Report, prices have increased by 75 per cent in the past decade, fuelled by increasing demand and limited land mass. And, with this growing demand, an increasing number of properties are being sold off-market. Off-market properties in Monaco are particularly sought-after with investors seeking to capitalise on everything this highly exclusive destination offers.

And other super-prime markets are showing a similar trend.  According to real-estate data analytics firm UrbanDigs, off-market property sales at the US$ 4 million price point and up increased by 75% from 2020 to 2021 in New York City.

A report by UK estate agency Hamptons shows the number of properties sold off-market in London has hit a record high – reaching 23% in the first five months of 2022, a rise from 20% in 2021. The report highlights that a further 12% were launched quietly – a ‘soft’ off-market tactic that enables the seller to ‘test’ the market before publicly listing a property.

Off-market real estate: Key advantages and disadvantages

There are several advantages to buying off-market real estate. For one, it’s a slick way to acquire some of the finest and most prestigious properties whilst ensuring complete privacy. Real estate not sold off-market is typically listed online with pictures, which some sellers and buyers wish to avoid. Property portals pose several risks when the world’s rich and famous require high levels of security and protection.

Alongside privacy, there is typically less competition when buying off-market real estate. As off-market properties have not been publicly listed, only a select few know of the proceedings. As such, the buyer can avoid bidding wars and negotiate the property’s price without the pressure of another individual swooping in.

As with anything, there are some disadvantages to buying off-market. As there is less choice, buyers might be required to wait for their perfect home.

Selling off-market might limit the property’s potential market, which could mean accepting a reduced price for the seller. Typically, higher buyer interest in a property can mean greater competition and a higher sale price. 

To discover off-market real estate, choose a real estate agent with experience in dealing with off-market properties. Contact a luxury real estate agent and find your off-market dream property.

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Abbie M

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