Kurfiss Sotheby’s International Realty is pleased to announce the release of its inaugural 2021 Luxury Outlook report which examines high-end residential markets across the globe in the wake of the Covid-19 pandemic. The comprehensive report provides insight into the world’s top primary and secondary markets and the anticipated wealth trends that will drive discretionary investment in the coming months.
Key findings featured in the Sotheby’s International Realty 2021 Luxury Outlook include:
- The most important amenities for luxury buyers today are private outdoor space or nearby parks and additional square footage for remote work and education
- 63% of respondents said they expected luxury home prices to rise over the next three years.
- Trophy home buyers remain heavily concentrated in the U.S. and China.
- By August 2020, high-net-worth individuals’ collective wealth had grown 37% from March 2020, according to a study by Wealth-X.
- By 2025, millennials could account for 45% of luxury goods sales.
“Many of the buyer trends we experienced during the past year track closely with this report’s findings, including a desire for home-recreation spaces and dedicated home-office spaces,” said Donald Pearson, chairman, Kurfiss Sotheby’s International Realty. “Even in Philadelphia, buyers sought properties with some form of outdoor space, whether a balcony, roof deck or postage stamp backyard.”
The Sotheby’s International Realty 2021 Luxury Outlook report was compiled by surveying Sotheby’s International Realty agents who transact in the US$10M+ price category around the world. This information was complemented by gathering supporting data from other leading industry experts, including Credit Suisse, the Luxu
ry Institute, and the National Wellness Institute, in addition to art and luxury experts at Sotheby’s, the famed auction house.
Click here to download the complete report.
Kurfiss Sotheby's International Realty 