coldwell banker previews international
Luxury market report
// fall 2013
c B Pi Ii
we are seein tremendus eneryr luury real estate, bth in the United States and abrad. New seller’s maretsand buyer’s marets hae emered in seeral auent strnhlds, while ther citieshae beun t ehibit balanced luury maret undamentals. Recent eedbac rmauent cnsumers als indicates that there is a psitie utl n real estate.
, nw celebratin ur 80th year as a leader in maretin eceptinalhmes, is prud t eamine all these dynamics in ur latest Luury Maret Reprt. Auent cnsumer cnfdence frst cmes int cus with ur 2013 Luury CnsumerSurey, dne in partnership with the Luury
Institute LLC. Accrdin t thissurey Americans with a minimum rss annual husehld incme $250,000,the majrity respndents reprt that they wn at least ne hme and epresscnfdence in the alue wnin real estate. The surey als reeals a sinifcantcultural shit amn the auent: while lcatin is still the mst imprtant decidinactr in a hme purchase, 24% say that they are nt limited by eraphy and haethe reedm t purchase an ideal prperty that truly fts their liestyle. It appearsmre auent cnsumers are basin their hme purchase decisins n hw theywant t lie as ppsed t where their wrplace is lcated—a reminder t us allthat the ptins are irtually limitless r this increasinly mbile rup! Perhapsthis trend is playin ut in Aspen, where an inu hih-net-wrth indiiduals arechsin the Rcy Muntain twn as a permanent residence. Their mementhere has helped Aspen mature rm a seasnal destinatin t a year-rund culturalhaen, an elutin we cer in mre depth n Pae 12.Elsewhere, the luury maret has ained mmentum in established metrplitanareas such as Chica, Washintn D.C., Bstn and Atlanta this year. As shwnin ur newly epanded cerae the tp 20 U.S. cities and ZIP cdes, thesecities hae hih numbers actie listins priced $1 millin and up, suestin thatseller cnfdence has spread beynd the epected auent htspts New Yr,Ls Aneles and San Francisc (and their ibrant jb marets). Hweer, New Yr pres that it is still ery much the luury real estate epicenter, as the N. 1 city rbth actie luury listins and clsed sales in the $1 millin and up, $5 millin andup and $10 millin and up cateries. (The fndins are urther supprted in urNew Yr Sptliht n Pae 14). Min acrss the prerbial pnd, we als l atwhat’s happenin in Italy and eplre the questin whether it is the time t buy nPae 17. As always, the Luury Maret Reprt reeals sme interestin trends driin thehih-end husin sectr. Preiews is hnred t brin them t the attentin uraents and clients s they can mae mre inrmed decisins. It speas t ur lnhistry serin the wrld fne real estate.
, PRESIDENT CoLDWELL BANkER PREvIEWS INTERNATIoNAL
, PRESIDENT & CHIEF ExECUTIvE oFFICERCoLDWELL BANkER REAL ESTATE LLC
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