EMEA’s luxury home market climbs as ultra-rich ‘flight to safety’ continues

Grosvenor, the privately-owned international property group, has released a sturdy set of results this morning, with increased revenue profits in 2012 up by 8.2% to £87.4m.

Thanks to years of overuse, the term 'luxury' is arguably the emptiest word in the lexicon of prime property. So how do experts at the top end of the market define luxury these days?