Lure of tech, culture shaking up luxury market: report

For many of today's affluent buyers, lifestyle trumps location

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Inman Connect San Francisco, Jul 17-20, 2018

The dynamics of the luxury real estate market are shifting as a new generation of affluent homebuyers enters the scene, according to a recent study titled "The Report: An Annual Review of Luxury Real Estate in 2017" from Coldwell Banker Global Luxury. "While luxury real estate in the United States has always been a tale of two coasts, we were pleased to uncover many up-and-coming luxury hubs across the country, including tech towns like Raleigh-Durham and cultural capitals like Nashville, shaking things up in the luxury market," said Coldwell Banker president Charlie Young in a statement. Illustrating this point, the report ranked the top five "power markets" for buyers and sellers, defined as "both well-established and unexpected luxury markets based on indicators such as airport accessibility, ease of doing business, a prestige brand presence and a housing stock that prioritizes privacy, views and exclusivity." The top five "power markets" to watch for sellers in 2018 incl...