Luxury Real Estate Dominated by Women and the Well-EducatedBy RISMedia Staff
The state of luxury real estate has shifted in recent years to be more focused in the female and the well-educated demographics, according to a new report from Luxury Portfolio, a network of independently-run luxury real estate brokerages.
Luxury Portfolio’s report is part of findings from their ongoing State of Luxury Real Estate research, which is taking a deeper look at the evolving global demographics of luxury homeowners and what it means for the industry. The data was gathered from surveys in 24 countries, including the United States and the United Kingdom, as well as key parts of Western and Southern Europe, Middle East and Asia Pacific. Key highlights:
“Affluent young women are on trajectory to level the playing field, wielding purchasing power, wealth accumulation, education and corporate positions to make serious real estate decisions earlier in their life,” said Mickey Alam Khan, president of Luxury Portfolio. “This has major ramifications for brands and retailers targeting homeowners and the luxury property sector.” “This data suggests that younger individuals are making significant strides early in their careers, acquiring luxury homes at a faster pace than previous generations,” Khan added. “Indeed, it follows a broader trend among the affluent that the ‘first luxury experience’ is happening earlier in life now for today’s young people compared to generations past.” For the full report, click here. |
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