Luxury Outlook 2021
Originally published on February 1, 2021 | Extraordinary Living Blog
Sotheby’s International Realty is pleased to announce the release of its inaugural 2021 Luxury Outlook report which examines high-end residential markets across the globe in the wake of the Covid-19 pandemic. The comprehensive report provides insight into the world’s top primary and secondary markets and the anticipated wealth trends that will drive discretionary investment in the coming months. The report reveals that global wealth is forecasted to grow and pandemic trends are expected to persist in the year ahead. With priorities shifting toward larger homes with special amenities, including "Zoom rooms," multiple offices and workspaces, and an increased interest in sustainable homes with wellness and technology features, the Luxury Outlook highlights new spending habits and homebuying trends.
"As a leader in luxury real estate, it was important for us to analyze trends emerging from the most unparalleled year in modern history," said Bradley Nelson, chief marketing officer for Sotheby’s International Realty. "The pandemic recalibrated interest in larger, greener properties, secondary cities, and geographies with favorable tax and emigration policies. These preferences are likely here to stay for the foreseeable future, and it was important for us to provide a resource to those looking to navigate the months ahead."
4 Bayberry Lane, Cape Neddick - listed and sold by Anne Erwin Sotheby's International Realty - was 2020's highest sale in York, Maine.
See Bloomberg's coverage of the report, "Millennials Are Changing the Luxury Real Estate Market."