Welcome to Berkshire Hathaway HomeServices Luxury Report where we explore the trends shaping real estate and lifestyle markets across the globe.
Despite fears that the challenges brought on by the pandemic would negatively affect the real estate market, the reality couldn’t be further from the truth. Real estate sales are booming around the world with no slowdown in sight, and high-end home buyers are leading the market.
Exceptionally strong buyer demand continues to cause a low inventory market, driving prices up nearly all across the globe.
Yet many have moved over the last few months, and those who have migrated to new areas are rediscovering their love of fresh air and green spaces, often spending more time than ever in their second (or third) homes thanks to the flexible work from home environment. At the same time, the return to metropolitan areas is well underway as luxury home buyers return to bustling cities for the culture they missed during the pandemic.
We’ve also polled agents from across the Berkshire Hathaway HomeServices global network, who pinpointed some under-the-radar areas likely to offer strong returns on investment, including Sun Valley Idaho, Barcelona Spain, Potsdam Germany and Hamilton Ontario.
While sustainability has been a buzz word for years, the pandemic has made people focus even more on their impact on the world around them. As such, today’s affluent are leaning towards responsible and conscientious consumerism more than ever before, both in terms of travel and shopping. Luxury resale items are among the trends being embraced by millennials and others who are interested in creating smaller Eco footprints.
Those same consumers are pushing luxury brands toward more humane, better sourced goods.
Will also look at the rise of NFT’s, digital art and the desire to give back in the form of family donations.
When it comes to big toys, there’s no denying electric cars are the (near) future. We look into what’s next for that sector as well as the increasing popularity of yachts and private jets.
Read the full report to get an inside look at the global luxury real estate as well as goods and services market.