Wealth X and Sotheby’s International Realty Multi-Homers Report
Earlier this year, Sotheby’s International Realty began their partnership with Wealth X to create targeted marketing reports on the buying patterns in luxury real estate among the Ultra High Net Worth (UHNW) individuals around the globe. The fourth and final installment for the year was released this past month.
This edition was directly targeted towards the growing number of multiple-home owners and the style, type and location of these luxury estates. It is noted that due to the changing conditions of business these days and the higher focus and access to our peers through social media that these UHNW buyers are growing towards becoming more international home owners having their second and third homes outside of their primary country. Five years ago about 11% of the UHNW had international residences, that number has already grown to 16% this year. The main four types of homes that have begun trending include: green homes, smart homes, private island homes, and luxury serviced apartments. It is also noted in the report that regardless of where the home is, it is necessary that it fits their lifestyle.
We have continued to see the Vail market steadily improve over the years with some of our marketplaces still seeing a shortage of inventory and higher demand for properties. As an international destination to suite ones’ lifestyle – Vail continues to see a strong presence of second homeowners as well.
To view the full Wealth X | UHNW Multi-Homers Report click HERE.