The high-end housing market is populated increasingly by buyers between the ages of 25-49, according to LP International’s recent research.
The report states that seventy-eight percent of these younger buyers are seeking homes with 5,000-plus square feet, typically with cutting edge kitchens and security systems installed. Fifty-five percent have expressed interest in living near restaurants and other nightlife.
This “New Aristocracy” exceeds the standard of luxury for any preceding American generation. Conversely, the older end of the market, those buyers ages 50 and up, are more likely to prefer suburban locations, and place a higher value on facilities and amenities like a laundry room, porches and patios, and a backyard.