Who is buying and selling real estate in the next three years? Globally 38% are interested in buying compared to only 23% who want to sell. In North America, only 30% project buying with 25% selling. Europe has 35% buying with only 17% selling. Asia, where countries like China have been investing heavily in luxury U.S. real estate, jumps to 68% with an interest in buying and only 18% selling. Clearly, investors there like long-term investing. The Middle East has 71% wanting to buy in the next three years and 63% looking to sell. Getting in and out of real estate quickly is what investors from places like Dubai, Saudi Arabia, and Kuwait seem to prefer.
One theme that runs true from North America to Europe to the Middle East and Asia is architectural style and an urban location are important to all. An urban location was most important to 71% of Middle Eastern buyers and 76% of those from Asia. North American buyers were pretty much split with 45% wanting urban and 46% heading to the suburbs. Architectural style differs among the group. Middle Eastern buyers like modern architecture as do luxury Asian buyers. Not surprisingly, Europeans like traditional home styles. As markets rise and fall, one thing remains--the global interest in real estate ownership. In the end, the family home remains key, especially when it comes to creating lifetime memories. Look to New England where family vacation homes in places like Martha’s Vineyard, Nantucket, and Maine have been passed down for generations. It’s a nice tradition if you can afford to buy that property and hold it.
For more information, please visit: https://www.forbes.com/sites/ellenparis/2018/10/17/latest-news-on-the-global-luxury-market/#6b370d912c5e