The uber-wealthy are embracing a new way of living, where “every day is a holiday,” according to luxury industry experts.
While the luxury real estate landscape has changed dramatically from just a few years ago, we see an exciting trend emerging. Affluent buyers are choosing coastal locations over metropolitan suburbs and prioritizing daily happiness and enjoyment like never before.
Tropical destinations and vacation hotspots, from Palm Beach to Mallorca, are growing in popularity. Likewise, new construction and existing coastal properties are filling the pent-up demand from high-net-worth buyers.
It started in 2023. Coastal housing markets started booming as people flocked to oceans and inland waterways to live and work. Whether looking for respite, or to embrace a healthier lifestyle, the affluent are seeking an environment with opportunities for wellness and relaxation. From luxury shopping to five-star spas, these are living spaces created around joie de vivre, a cheerful enjoyment of life, designed for the wealthy.
We are entering a time when many luxury buyers are purchasing homes in warmer climates. These homes may be second homes or semi-permanent escapes. For those who work remotely, there is the possibility to work from anywhere in the world. With the flexibility to connect with colleagues virtually, many people have chosen to exchange the corner office for a spacious villa with a view.
As companies continue to define the work environment, the affluent are seeking balance. Opting for an escape rather than choosing a property simply because it’s within commuting distance. International travel is back in vogue, so long-distance flights are becoming the norm for some.
Additionally, there is the draw of recapturing a special time from childhood. Chris Raveis, president of residential sales for William Raveis Real Estate talks about one such place, “Cape Cod, Mass. gives people that deep sense of community. It’s an escape from the outside world, where you can hike around a crystal-clear lake, walk along a sandy beach or coastal path and be surrounded by beautiful water views.” With more than 550 miles of coastline, the area is known for its beaches and local seafood but people also enjoy sailing, golf, and horseback riding.
Visit Raveis.com for properties, William Raveis agents & offices on Cape Cod and Nantucket.
William Raveis and Luxury Portfolio International have been in partnership for 20 years. Together, they help buyers and sellers explore properties across the globe. From Singapore to Spain & Cape Town to Cape Cod, the future buyers of tomorrow are surely aiming to prioritize the enjoyment of living and bringing home to wherever they find comfort.
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