20 20 THE RE P O RT
2 0 2 0 G L O BA L LU X U RY M A R K E T I N S I G H T S •
LUCIO BERNAL
Coldwell Banker Residential Brokerage, Palm Springs
Presented By
LUCI O B ER NA L
Broker Associate, CLHMS, CRS DRE# 01236217 Coldwell Banker Residential Brokerage, Palm Springs
310.383.2466
Lucio.Bernal@camoves.com www.BernalSmithGroup.com As luxury expert in Palm Springs, Lucio Bernal offers a wealth of knowledge and expertise that is unsurpassed; you can always trust his service and commitment. Lucio Bernal has served affluent clientele for over 20 years. He offers keen insight into executive and corporate relocation services, and understands and adapts to constant changes in the luxury market. His expertise is why his clients are excited to refer his services to their family, friends, and colleagues. He is a Broker Associate, Coldwell Banker Global Luxury Ambassador, a Luxury Property Specialist, an expert trainer with The Institute for Luxury Home Marketing, and served as President of the Palm Springs Regional Association of REALTORS® after having been named the association’s REALTOR® of the year in 2015. • Coldwell Banker Global Luxury Property Specialist • Coldwell Banker Global Luxury Ambassador • Certified Luxury Home Marketing Specialist – Million Dollar Guild • 2017 President of the Palm Springs Regional Association of REALTORS® • Certified Residential Specialist, Pricing Strategy Advisor
2 | COLDWELL BANKER GLOBAL LUXURY - STATE OF LUXURY REPORT 2020
A FEW W O R DS FR O M. . . I would like to welcome you to The Report: 2020 Global Luxury Market Insights, a full year of luxury real estate in review. This report's goal is to bring you a definitive guide for buying and selling high-end property through trends, analysis and expert insights. The year 2019 was transitional for the high-end property market, as both geopolitical uncertainty and global economic slowdown fears eventually gave way to cautious optimism. Traditional hotspots plateaued, others maintained their edge and surprising luxury real estate growth emerged in mid-size markets such as Boise, Idaho. The report shines a light on the 5 significant trends of 2019; from the rise of health & wellness and new demographic groups making an impact on the purchasing power to understanding why the significance of new taxes and the migration of wealth are intertwined in their impact of affluent decision making. The report is not just about where the affluent are moving, but who is buying, what they are investing in and why. New definitions for luxury are emerging, creating greater diversity within the marketplace as well as opportunities for high net worth clients. Understanding buyers and sellers is critical for anyone considering a high-end property sale or purchase, whether abroad or in the US, so Coldwell Banker Luxury Property Specialists were invited to share their insights into the local pulse on changing demographics and the requirements of buyers. Their on-the-ground feedback and local market expertise is included within the pages of this Report as well. As your luxury real estate professional it is my responsibility to share with you the comprehensive knowledge provided this powerful and all-encompassing report.
Lucio Bernal
COLDWELL BANKER GLOBAL LUXURY - STATE OF LUXURY REPORT 2020 | 3
www.coldwellbankerluxury.com
LUCIO BERNAL & THE BERNAL SMITH GROUP 310.383.2466 | Lucio.Bernal@camoves.com | BernalSmithGroup.com