At William Raveis, we are proud to be members of Luxury Portfolio International, the luxury arm of the Leading Real Estate Companies of the World. We invite you to read and share their latest report, International Luxury Buyer Trends and Demand, in collaboration with Affluent Consumer Research Company. It offers statistics of global luxury buyer’s latest needs and desires coming out of the global pandemic.
In this report, over 3,000 interviews were conducted globally representing the top 1-5% of their nation’s economy. This included Asia Pacific, North America and Europe. 1306 respondents seeking to purchase $1M+ real estate by 2023; 313 of those looking to purchase internationally.
A few highlights:
- A desire for more control over one’s environment and heightened personal security translates into features and amenities in homes that can handle the family and guests for a longer period. The most desired features: great internet connection, quiet spaces for each family member; home gym, chef’s kitchen. The most desired amenities: security system, smart home technology, swimming pool.
- International luxury home buyers are most interested in a single-family residence that is less than 5 years young.
- Interest in proximity to a city or town neighborhood is lower for the international luxury home buyers vs. domestic buyers. Instead, nature or waterfront type settings are most attractive.
Of the 2.25 million global luxury home buyers over the next 3 years, 8% are considering a home in the continental United States, or 180,000 households interested in owning US luxury property. Additionally, Hawaii is the very top destination among all international luxury home buyers at 20% seeking a residence there.
The research supported that most international luxury home buyers are planning to work with a traditional real estate company to buy their next property. They are looking for efficient customer service, high-quality product offerings, a strong reputation and the use of new technologies. This is a perfect depiction of all William Raveis sales associates. And… for our clients that may be moving out of the William Raveis footprint we can also make a connection to the best brokerages in over 70 countries. To start your global search, please visit raveis.com and click on national and global search. To see some of the William Raveis current luxury properties for sale as well as some national and global properties view the Luxury Properties Portfolio of Homes.
