What do today’s luxury buyers really want?

 

         

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Real estate analysis is based on what has occurred in the past; it is how predictions are made and how future decisions are evaluated. The last two years have had profound lessons for our present and future. A once-in-a-generation pandemic initiated a paradigm shift: people began reimagining their ideas of home and rediscovering their essential values at the very moment when wealth was rising to historic levels around the world, thanks to rebounding stock markets and surging home equity gains. According to the latest Wealth-X data, the population of individuals with a net worth of $5 million+ reached more than 3.6 million globally. That was an increase of 19.8% over 2020 and a notable difference from 2020, which saw only a 2.2% gain over 2019. This extraordinary wealth growth led to a real estate expansion like we’ve never seen before. A new map for luxury opened up new locations and multiple homeownership in greater numbers. Home as a safe haven became the rallying cry for our time.

Where do we go from here? What opportunities should we look for?  Rather than focusing solely on the past, we are looking forward to The Report 2022. Annual statistics in the top 10% of 120 U.S. markets were analyzed with Coldwell Banker Global Luxury's partner, the Institute for Luxury Home Marketing, to provide a view into future trends that could impact luxury real estate and the next opportunities that lie ahead. Also consulted were Wealth-X to provide a global outlook on wealth, homeownership trends and where current and upcoming pockets of international affluence may reside. Wealth management expert Barry Ritholtz added his financial perspective, and as always, Coldwell Banker Global Luxury Property Specialists and colleagues lent their boots-on-the-ground market insights. We hope you find the information invaluable in this report.

         

 

Regardless of price point, our team is united in their efforts to support the client, support each other, and get the job done in the best way possible. Paula Higman Real Estate is a unique team of talented and diverse individuals with a passion for success and client satisfaction.

Contact Paula Higman Real Estate today and let us take this journey with you to marketing and selling your home for the best value, to the biggest luxury real estate market out there.

 

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