Sotheby’s International Realty Affiliates LLC is proud to present “Global Affluence: The Emerging Luxury Consumer,” a report examining the confidence, spending habits and purchasing interests of emerging luxury consumers from around the world, defined as those with $250,000 USD to $1 million USD in investable assets.
The report, which is based on a survey that focused on luxury consumers in the United States, United Kingdom, India, United Arab Emirates and China, found that this emerging luxury consumer demographic is confident when it comes to their personal economy and the economy of their respective countries.
“The luxury residential real estate market is ever evolving,” said Philip White, president and chief executive officer of Sotheby’s International Realty Affiliates LLC. “As a global leader in this arena, the Sotheby’s International Realty® brand commissioned this research survey to unveil emerging trends with luxury residential real estate consumers around the world. We are always looking to the future and our focus is to keep a pulse on the state of the real estate market and the homebuyers of tomorrow.”
The complete Sotheby’s International Realty “Global Affluence: The Emerging Luxury Consumer” report features a breakdown of data by country surveyed as well as supplemental search data from sothebysrealty.com. Click here to download the full report.
Key findings from the Sotheby’s International Realty “Global Affluence: The Emerging Luxury Consumer” report include:
- 85% of emerging luxury consumers are confident in the housing market in their respective countries and are ready to purchase a home within the next three years. Click here to Tweet.
- 93% of emerging luxury consumers are looking to purchase homes with luxury components. Click here to Tweet.
- Emerging luxury consumers are interested in waterfront, metropolitan and historic homes. Click here to Tweet.
“The luxury market has been redefined in recent years due in large part to the impact of the new emerging luxury consumer,” said Kevin Thompson, chief marketing officer of Sotheby’s International Realty Affiliates LLC. “These individuals have a luxury sensibility and an affinity for exclusive brands, proving that luxury transcends income levels – it is about quality, uniqueness, and ultimately achieving a certain lifestyle. The Sotheby’s International Realty brand has its eye on the future and is perfectly positioned to unite these extraordinary lives with extraordinary lifestyles.”
PROPERTY LIFESTYLES | GLOBAL AFFLUENCE:
THE EMERGING LUXURY CONSUMER
When it comes to purchasing a home, emerging luxury consumers are particularly interested in pursuing certain property lifestyles including waterfront, metropolitan and historic. Discover trending locations for these popular property lifestyles, based on data compiled from sothebysrealty.com.
Waterfront
The waterfront location with the highest year-over-year increase in search is New Hampshire.
$2,649,000 USD | Moultonborough, New Hampshire | Four Seasons Sotheby’s International Realty
Waterfront properties available in New Hampshire include this custom-built estate on Lake Winnipesaukee. The home includes 7,500 square-feet of living space, a 1,000-square-foot carriage house ideal for guests, 200 feet of shoreline and a deep-water U-shaped docking system.
Europe has also seen an increase in searches for the waterfront lifestyle, with three trending locations being the United Kingdom, Italy, and Germany.
Waterfront lifestyle destinations that have maintained a trending position year-over-year include Turks & Caicos, Australia, and Malibu, California.
Metropolitan
The metropolitan location with the highest year-over-year increase in search is Denver, Colorado.
$2,299,000 USD | Denver, Colorado | LIV Sotheby’s International Realty
Metropolitan properties available in Denver include this townhouse in the exclusive Riverfront Brownstones development. Located in Downtown Denver, the residence spans over 4,000 square-feet and features floor-to-ceiling windows, master suite with a private balcony, plenty of outdoor living space and an attached three-car garage.
Additional trending metropolitan locations around the world include Boston, Massachusetts; Tokyo, Japan; Portland, Oregon; and Vancouver, British Columbia, Canada.
New York City is consistently one of the most popular metropolitan searches with trending neighborhoods including SoHo and the Upper East Side.
Historic
The location for historic homes with the highest year-over-year increase in search is the Hudson Valley region of New York State.
$1,775,000 USD | Grandview, New York | Ellis Sotheby’s International Realty
Historic homes available in the Hudson Valley region of New York include this 19th-century cobblestone, craftsman-style estate. Known as “Willow Knoll,” the home was built in 1891 by Joseph Ellicott, the inventor of the air brake and first commodore of the Tappan Zee Yacht Club.
Additional trending historic home locations around the world include New Orleans, Louisiana; Venice, Italy; India; Atlanta, Georgia; and Portugal.
For more information on the confidence of emerging luxury consumers, download the complete “Global Affluence: The Emerging Luxury Consumer” report by clicking here.
The Sotheby’s International Realty network currently has more than 20,000 affiliated independent sales associates located in approximately 850 offices in 66 countries and territories worldwide. In 2016, the brand achieved a record global sales volume of $95 billion USD. Sotheby’s International Realty listings are marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and clients will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs. Each office is independently owned and operated.