New York, London Get Hit Hardest in Mega-Mansion Sales Plunge
- Home sales for more than $10 million fell by 53% in 12 markets
- Sydney bucked the trend with an increase in the first half
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Sales of New York’s most expensive homes cratered by 70% in the first half, the biggest decline among the world’s priciest cities.
Just 41 properties sold for $10 million or more in the U.S. financial capital, down from 137 a year earlier, as the coronavirus pandemic closed borders and disrupted deals, according to broker Knight Frank. That topped steep declines of 68% in London and 61% in Hong Kong.