Number of Luxury Real Estate Sellers Increases Globally; Some Buyers Expressing FOMO (Strong Fear of Missing Out); Sustainability ‘Critically Important’ Among Affluent Buyers Worldwide
Latest Report Comprises Data from Top 1-5% Bracket Surveyed Across 20 Countries, Representing an Affluent Population of Almost 32 Million HouseholdsNEW YORK, Dec 2 (Bernama-GLOBE NEWSWIRE) -- Luxury Portfolio International® (LPI), the world’s premier network of luxury residential real estate brokerages, is pleased to share the results of its 2022 State of Luxury Real Estate Report (SOLRE). The study comprises data from individuals in the top 1% to 5% income bracket across 20 countries, and touches on a broad range of topics crucial to the global luxury residential real estate market.
Most notably, the LPI report reveals a continuation of dominating home purchasing-related trends that began during Q3 2020 and continued throughout all of 2021, showing that demand for luxury real estate remains high; price increases expected to continue; supply remains lower than demand; time-on-the-market for luxury single-family homes often continues to “last just hours”; and sustainability is ‘Critically Important’ (66 percent) when considering future home purchases.
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