Consumer Demand For Real Estate Luxury Residential Market Establishes New Normal

from State of Luxury Real Estate - Luxury Market Trends 2023

KEY FINDINGS AND RECOMMENDATIONS

As with the total residential market, luxury real estate saw a decline in demand in 2022. The decline is in response to economic pressures brought on by rising interest rates and stock market volatility, as well as the glut of buyers in 2021 accelerating demand.

The strong U.S. dollar has also impacted the global marketplace as the effective cost rose dramatically in some areas.

Considering these headwinds, the 2023 forecast appears primed for another solid year overall.

Professionals are cautioned to take these projections as a point - in - time snapshot of consumer opinion.

Demand for luxury residential real estate in the next 3 years (USD $1 million or more) | Global Affluent Demand for luxury residential real estate

Consumer Demand For Real Estate Luxury Residential Market Establishes New Normal

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KEY FINDINGS AND RECOMMENDATIONS

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State of Luxury Real Estate - Luxury Market Trends 2023