Luxury Portfolio International Trends
Trend 1 — Luxury buyers outnumber luxury sellers by a nearly 3 to 2 margin, resulting in historic low inventories of luxury properties in some hot markets. Even in cooler markets, sellers who have updated their properties are having the most success, occasionally aided by reduced pricing.
Trend 2 — The desire for greater privacy and perceived exclusivity is fueling an increasing number of “private” (non-public) sales listings. Top agents with experience in discretion and confidentiality are being selected to assist.
Trend 3 – Eco-friendly, energy efficient and security effective homes are desired as a reflection of the buyers’ values and lifestyles. Only a minority (around 1/3) think smart phones and internet connections should control/operate the home security system, reflecting a lack of trust in the privacy offered by smart phones or internet connectivity.
Trend 4 – The top 3 reasons for buying $1 million-plus homes are: a) improved quality of life; b) financial investment for portfolio; and c) change of scenery. Buyers see these purchases as a reflection of their personal achievement. Source: Global Luxury Real Estate Report 2017, Luxury Portfolio International