GLOBAL SURVEY SHOWS LUXURY AGENTS SEE CONTINUING APPEAL IN HIGH-END PROPERTIES DESPITE INTEREST RATE INCREASES AND CHANGES IN MARKET DYNAMICS
NEW YORK, Jan. 5, 2023 /PRNewswire/ -- Sotheby's International Realty published today its 2023 Luxury Outlook report, an in-depth exploration into high-end real estate markets across the globe. Following two years of residential real estate frenzy and historically low interest rates as a result of the Covid-19 pandemic, the report reveals that many luxury agents are continuing to see interest in high-end properties among the affluent, despite record interest rate hikes. Global wealth creation is expected to increase over the next several years1, translating to a potential influx of luxury buyers and an increase in price points in high-end property markets around the world.
- Following two years of residential real estate frenzy and historically low interest rates as a result of the Covid-19 pandemic, the report reveals that many luxury agents are continuing to see interest in high-end properties among the affluent, despite record interest rate hikes.
- "Buyers and sellers are once again maneuvering an ever-changing and fast-moving real estate market," said Bradley Nelson, chief marketing officer, Sotheby's International Realty.
- The Sotheby's International Realty 2023 Luxury Outlook report was compiled by surveying Sotheby's International Realty agents around the world who transact in the US$10M+ price category.
- Sotheby's International Realty supports its affiliates and agents with a host of operational, marketing, recruiting, educational and business development resources.