- Global Luxury Real Estate Report Released -
Earlier this month Luxury Portfolio, the Luxury Division of Leading Real Estate Companies of the World, released their annual Global Luxury Real Estate Report at their Global Symposium in Vienna, Austria where Jeremy Hurst, IRG Broker/Owner, was in attendance.
The report provides an in-depth analysis of the habits of global luxury consumers and how their purchases tie directly to how they see themselves in the world.
“The population of wealthy consumers continues to grow and their interest in purchasing real estate also increased,” noted Luxury Portfolio International® President, Paul Boomsma. “Today’s high-net-worth buyer seeks privacy and the latest technology, creating a strong opportunity for new home developers.”
Findings from the Leading Real Estate Companies of the World’s Global Luxury Real Estate Report include:
• The Asia-Pacific region has seen 21% growth in $10M+ net worth population since 2015.
• North America contains the largest number of $10M+ household and has seen growth of 146% since 2010
• The top reason given by luxury consumers for purchasing a new home was to improve their quality of life.
• 82% of luxury consumers state their privacy has never been more important
• 61% of potential U.S. high-net-worth buyers stated that security is what they are looking for in a home purchase
The Global Luxury Real Estate Report reveals deep insights into the motivations and desires of the world’s wealthiest citizens. The ongoing demand for luxury real estate requires inventory that incorporates the latest technology, security features and flexibility for modern multi-generational living.
IRG’s Broker/Owner Jeremy Hurst adds “This report is highly relevant to the Cayman Islands market, which is becoming increasingly attractive to high net worth and ultra-high net worth investors. We offer a safe, civilized, enjoyable family-orientated lifestyle that no country in the region can match and in that sense, although luxury prices have been increasing, our real estate market remains excellent value.”
To download the complete report, please visit luxuryportfolio.com/whitepaper.
IRG (International Realty Group Ltd.) is the Cayman Islands’ representative of Luxury Portfolio (www.luxuryportfolio.com) and Leading Real Estate Companies of The World (www.LeadingRE.com). Jeremy Hurst sits on their Global Advisory Board and was recently recognised as a “Global Ambassador” for the organisation. With a global membership that spans six continents, LeadingRE and Luxury Portfolio connects more than 550 firms and 130,000 sales associates who produce over 1.2 million real estate transactions each year located in 65 countries. As a member of LeadingRE & Luxury Portfolio, IRG provides a quality real estate experience, global marketing reach and access to top real estate professionals in virtually any market worldwide.