Berkshire Hathaway HomeServices (BHHS) has announced the release of its annual 2022 Global Luxury Landscape Report.The report explores what’s on the horizon as markets around the world transition from fast-paced activity—underscored by record sales, bidding wars and limited inventory—to a period that is more evenly paced as high inflation levels and geopolitical events will continue to play pivotal roles in determining the tone of the high-end of the market.
“Luxury real estate has seen a record-breaking run over the last couple of years,” said CEO Christy Budnick. “Although the real estate market has begun to normalize, the very top end of the market has recently seen a flurry of activity within our Luxury Collection, including a record-breaking Miami home selling for more than $100 million as recently as last week.”
According to a release, the report spotlights the evolution of purchasing real estate based on lifestyle choices, preferences and migrations of luxury buyers, and how and what industries are putting markets on the map. Further addressing trending topics, the report explores real estate on the metaverse, design trends, and the top nine home amenities for the luxury buyer. It also examines the top 10 markets within the BHHS network and outlines destinations to watch.
Also included in the report, as stated by BHHS, is an exploration of luxury lifestyle pursuits— including bucket list travel, the soaring cost of burgundy, young artists making their mark on the world and fetching high prices for their works, and how sustainability is fueling the luxury vintage goods industry.
“One main thing that we observe as luxury real estate evolves in this new climate, is that the world continues to be even more connected by technology and also by our shifting mindset,” Budnick said. “Luxury real estate is truly a global enterprise, and I am proud that our network continues to expand and welcome the best professionals in the industry to its ranks so that we can continue to deliver unparalleled, individualized service powered by the Berkshire Hathaway HomeServices brand.”
For more information, visit https://www.bhhs.com/luxury-collection.
