The Institute’s Luxury Market Report is your guide to an analysis on the trends and comparative data on the top-residential markets throughout Canada and the United States.
This month’s reports looks at why buying an upper-tier home still offers an escalator to wealth. This is despite of the slowing of the luxury market and people questioning the value of homeownership. David Bach, author of “The Automatic Millionaire” that spent 31 weeks on the New York Times bestseller list, states on his website.
“The fact is, you aren’t really in the game of building wealth until you own some real estate.”
Explore opportunities that lie in the niches within this market and investigate those currently in favour with real estate investors.
As prices adjust to the slowing demand and increased inventory, savvy buyers are realizing their dreams of being able to purchase homes a lower prices. This is made additionally more plausible because the traditional market is still seeing an increase in property values.
Affluent buyers wanting to live in expensive cities are recognizing that they can avoid the heavy taxes. Accessibility to smaller but cleverly designed space-saving properties is creating a new niche.
Growth in luxury property purchase has also increased in markets outside of the top metropolitan areas. Mainly driven by those able to work from home as well as the added attraction of many towns experiencing revitalization.
The report also reviews niche markets being created by high-end developers. How they are attracting the affluent investors. From redevelopment of industrial wastelands, to the demand for eco-friendly properties and the artful repurposing of mega-mansions.
Keeping up with the trends and shifting buyer interests are just some of the ways to understand how to maximize the opportunity of the luxury real estate market.