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 report looks a little deeper into some global trends that are impacting the future of luxury real estate.
There is now a growing global demand for luxury properties in secondary cities. What is significant, and equally unexpected, is that investment (for residential and commercial real estate), has shied away from the traditional safe haven of the world’s major cities. Instead it is choosing to take a risk in these secondary markets. The report identifies these top performing markets.
Taxation in premier markets is also causing a diversification of wealth to secondary markets. The report shows a clear correlation in the US between the significant migration from its major cities and the growth in more tax-friendly markets.
Diversification of wealth is clearly becoming more important to the affluent in this more volatile market. The report showcases how investors in the Canadian market are changing their tactics to maximize additional opportunities in real estate.
The final global trend reviewed is the importance of recognizing the necessity of digital and technology integration. Whether it is for use in the infrastructure of homes or determining new opportunities. Understanding its power is critical to remaining at the forefront of real estate investment.
In conclusion, The Institute’s analysis of these market trends and shifting buying interests shows that are lucrative real estate niches, but also still recognizes that there will always be long-term money-makers.
For homeowners looking to sell their luxury home in today’s market we recommend working with a realtor who can capitalize on the preferences of current investors. By carefully focusing on the lifestyle-specific niche your property offers, in line with trends, it can be marketed effectively to connect with the right potential buyers.
Click here to see the Institute’s full report.
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