Global sales of US$100m homes hit record

Los Angeles

THE ultra-luxury housing market is scaling new heights as a record number of properties around the world command prices topping US$100 million.

Demand for mega-mansions and penthouses has accelerated as wealthy buyers seek havens for their cash and search for alternative investments such as art and collectible real estate, according to a report on Thursday by Christie's International Real Estate, owned by auction house Christie's. Five homes sold for more than US$100 million last year, with at least 20 more on the market with nine-figure asking prices, the brokerage said.