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After a breakout year in 2021, the luxury real estate market finally reached a much-anticipated high point in 2022, but not right away.

Throughout the years of a horrific coronavirus pandemic, luxury clients continued to invest their money in real estate as favorable market conditions such as record interest rates spurred them to buy while many continued to wonder how long this cheap investment honeymoon phase could last. But as much as high net worth individuals seem unaffected by larger market forces, this year finally proved…