Affluent buyers in all age groups make a significant impact on the luxury real estate market. At present, however, millennials have heightened momentum. The YouGov 2016 Affluent Perspective Global Study notes that millennials, as well as the 400,000 wealthiest households in the U.S., will increase their spending by 8 percent and 10 percent respectively during the current year.
- Recent statistics suggest that millennials will be spending more in the luxury market.
- Millennials respond to a different brand than previous generations.
- Marketing to millennials requires understanding their motivation to buy luxury.