THE GLOBAL OUTLOOK ON LUXURY LIVING for 2022
As the premier global luxury brand, Sotheby's publishes periodic reports on the status and projections of luxury living, including the housing market. Explore the most recent Sotheby's Luxury Outlook here.
The most recent Sotheby's International Realty Luxury Outlook explores the trends that are shaping premium markets across the world. Projections include the resurgence of urban purchases and international buying, as well as escalating demand and continued inventory constraints. This report also features international tax changes and insight into the specific markets where buyers are gravitating.
Here's an excerpt from the Secondary Markets section in the current issue:
The pandemic sent house prices soaring in major economies around the world, but two sectors in particular saw an explosion of demand that is set to continue in 2022. “The first category was resort and second-home markets. The second category was luxury,” says Budge Huskey, president and CEO, Premier Sotheby’s International Realty in Florida and North Carolina. “In fact, last year and this year, the higher the price category, the higher the increase in the percentage of sales year over year.”
Areas such as Asheville in North Carolina, Naples and Sarasota on Florida’s Gulf Coast, and Vero, Jupiter, Ponte Vedra, and Amelia Island on Florida’s east coast, experienced a sales pattern consistent with secondary and resort markets across the U.S. “The growth in sales year over year was somewhere from 40% to as high as 80%, versus the national market, which went up on average about 20%,” Huskey says. Vacation-home sales rose by 16% from 2019 to 2020, according to a report from the U.S.’s National Association of Realtors, and by April 2021 sales were up by 33% over the past 12 months."