An interesting read…This on-line report gives our readers an in-depth review of today’s international luxury homeowner, specifically addressing high net worth individuals who have $2M+ in investable assets. Not surprisingly, Americans in this segment own an average of three properties, some for themselves and some as “legacy” properties which are intended to be kept in the family long term.
This is relevant to us here in Arizona, where we cater to the “winter home” buyer and see a high number of luxury vacation properties sold every year. In addition, location is obviously the top consideration; golf properties, mountain homes, and waterfront locations are our favorites. Other luxury amenities such as luxury car collector garages also appeal to this demographic. The report also highlights the international luxury profiles of high net worth individuals from other countries including the UK, Brazil and China.
We are definitely seeing an increase in the confidence level within the affluent buyer demographic. The Sotheby’s International Realty Luxury Lifestyle Report survey of these buyers in the US, UK, Brazil and China revealed that the majority would be more likely buy a Lifestyle Home today as opposed to five years ago.
The wealthy investor client is an important barometer for the real estate industry. Sotheby’s International Realty as a global force will continue to keep us on top of trends and international demand for luxury properties, and on a local level this impacts our luxury home market in a positive way. Kudos to Sotheby’s International Realty for publishing this excellent report!
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