What does luxury mean? Real estate professionals weigh in

  • The most commonly cited starting price point for luxury properties was $2 million to $5 million.
  • What motivates luxury homebuyers? Most survey respondents said "location" was most important to their luxury buyers.
  • Most respondents also noted that luxury homebuyers are not more skilled at negotiating than any other buyer.

Lavish. Affluent. High-end. Exclusive. Those are just a few of the words that people who responded to Inman’s survey about luxury home buying and selling listed as preferable alternatives to “luxury,” a term that tends to raise hackles in certain circles. Are you at Inman's Luxury Connect event? If not -- watch it via live stream. Whatever you call it, the high-end market is an integral part of the real estate industry, though not without its own struggles. According to our survey, 39.42 percent of respondents said that global economic events have hurt luxury real estate, which leaves us wondering: What events specifically do you think have contributed to this downturn? Are we still suffering from 2008, or are we just starting to feel the sting from the economic crisis in China? Over the course of 10 days, 208 people responded to this survey. Below are some of the more illuminating responses that we received. What qualifies as luxury? With 29.81 percent o...