AgentMarketing

Luxury millennial consumers will buy soon: Here’s what they want

  • A new report finds that 85 percent of emerging luxury consumers are confident in the housing market.
  • Luxury millennial consumers want their homes to reflect their lifestyle.

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Here's another great acronym for everyone to learn: H.E.N.R.Y. -- high earning, not rich yet. Sotheby's International Realty (SIR) was hoping to find insights from this group its recent report, Global Affluence: The Emerging Luxury Consumer. The research, which surveyed high earning individuals from five different countries -- the U.S., the U.K., China, the United Arab Emirates (U.A.E). and India -- found that 85 percent of emerging luxury consumers (consumers with $250,000 to $1 million in "investable assets") are confident in the housing market in their respective countries and are ready to purchase a home within the next three years. Those in the U.S. said key motivators for buying a home are: Being at the right stage in life for this type of purchase Wanting a home that fits a particular lifestyle Doing well in their job Houses are a reflection of lifestyle The company said emerging luxury consumers across the five global markets search Sothebysrealty.com ...