November 5, 2018
Luxury Buyers Around the World
Who would have guessed that most luxury buyers are located in the Middle East? In the Middle East, over 70% of these high-net-worth individuals are wanting to purchase a home.
Over these next few months, the inventory of homes is expected to increase which will also affect prices. The current average highest sale price for a luxury home is located in San Francisco where it averages about $3.3 million.
Buyers are looking to purchase homes in unique and extravagant locations that could even be all the way across the world. Luxury buyers want something new and exciting. Along with that, buyers want more than one luxury home. They want the ability to explore and live in more than one property. These days it’s all about flexibility.
So, what does motivate these luxury buyers to move? Well, most said it was to upgrade their quality of life, and the rest said financial investment, upsizing, or just wanting a change of scenery.
Most people prefer to say they live in a home with feelings attached to it rather than a house that holds all of your personal belongings. The most important factors to Americans while purchasing a home are the size, lot, location, and layout. It is also important for buyers to get the best bang for their buck and to get the most out of their purchase. The last most important factor was the emotional feelings attached. Buyers want it to feel like home and not just a house.