With the housing market crash in the past, not all homebuyers need as much time to recover. According to a recent survey of aspiring luxury consumers in the United States, United Kingdom, China, United Arab Emirates and India by Wakefield Research for Sotheby’s International Realty Affiliates LLC, these consumers are confident about their personal finances and the overall economy of their country. Aspiring luxury consumers are confident they can afford everything they need as well as the things they want.
This consumer confidence has an important impact on the real estate market. Indeed, 85% of aspiring luxury consumers are confident in the housing market in their country, and they’re ready to purchase a home within the next three years. Given their taste for the finer things, it’s no surprise that roughly 9 out of 10 (93%) of aspiring luxury consumers are looking to purchase homes with luxury components. Moreover, they are particularly interested in waterfront, metropolitan and historic homes to experience their property lifestyle of choice.