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Luxury Real Estate: In Pursuit of a Collectible, Seeking Upside in a Low Return World

Elliman Magazine
Jonathan J. MIller
January 30, 2014, 3 pages

Since the global credit crunch began five years ago, interest rates have remained near historic lows as central banks around the world have been working to stimulate a broad economic recovery. International and domestic investors have grappled with anemic returns on cash instruments, tight credit policy, and the continued volatility of global financial markets. With limited options, these investors have looked to a variety of hard assets to provide more reasonable returns. Although the world’s financial institutions continue to be risk-averse, the luxury investor populace and related wealth management institutions have sought out new opportunities, including real estate as an investment strategy in the “search for upside in a low return world.” A key beneficiary of this trend has been the growth of luxury real estate…

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