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Massive Chinese luxury spending shows The real estate mania is spreading

Posted on 29 November 2010

From Businessinsider.com: Tiffany results give excellent insight into the luxury market mania. At the flagship US store in New York sales were down 3%. It was up a modest 8% in the US as a whole. Japan was up 2%, but the rest of Asia was up a whopping 24%. Growth for sure, but Chinese consumer consumption is $2 trillion, or one-tenth the size of Europe and the US combined.
I am not quite sure what to make of the 22% increase in Europe. Sales of items under $500 declined, but high end jewelry and diamond sales drive expensive purchases much higher. That, ladies and gents, is the foundation of the luxury boom of 2010…………………………………….Full Article: Source


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Laxman - who has written 28515 posts on Opalesque Real Estate Briefing.


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