What are the most important factors for affluent homebuyers?
Airport accessibility, ease of doing business, a prestige brand presence and a housing stock that prioritizes privacy, views and exclusivity; are all among the key measures of desirable markets for wealthy buyers according to a new report from Coldwell Banker Global Luxury.
"Coldwell Banker is proud to unveil The Report, a one-of-a-kind report that blends industry data with insights from our greatest resource, our Luxury Property Specialists across the country,” said the firm’s vice president of luxury Craig Hogan.
The research concluded that luxury real estate was strong, stable and consistent in 2017. There was a levelling-off of prices as inventory constraints eased with a 30% rise, and demand found a ‘new normal’ after the post-recession boom.
“While luxury real estate in the United States has always been a tale of two coasts, we were pleased to uncover many up-and-coming luxury hubs across the country, including tech towns like Raleigh-Durham and cultural capitals like Nashville, shaking things up in the luxury market," noted Charlie Young, president and CEO of Coldwell Banker Real Estate.
The firm, along with The Institute for Luxury Home Marketing identified the top 5 markets to watch in 2018 for buyers and sellers.
Top 5 Luxury Buyer "Power Markets" to Watch in 2018
- Boca Raton, Fla.
- Miami, Fla.
- Park City, Utah
- Santa Barbara, Calif.
- Scottsdale, Ariz.
Top 5 Luxury Seller "Power Markets" to Watch in 2018
- Denver, Colo.
- Nashville, Tenn.
- San Francisco, Calif.
- Seattle, Wash.
- Silicon Valley, Calif.
“This market intelligence is critical for agents based in both established and unexpected luxury hubs, especially as they gear up for what is expected to be another strong year in luxury real estate in 2018," concluded Hogan.
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