What we've continued to see based on both reports from Coldwell Banker Global Luxury Property Specialists and analysis provided by our partners, including The Institute for Luxury Home Marketing, Wealth-X, An Altrata Company, and Barton Consulting - is that today's luxury homebuyers continue to prioritize turnkey, move-in-ready properties equipped with modern amenities, wellness features, advanced technology, and privacy. Location remains paramount, with buyers favoring properties offering lifestyle convenience and access to cultural and properies onermg recreational opportunities.
This trend, far from being a fleeting fad, has continued to drive developers and designers to imagine properties that address these modern-day concerns. Expect to see more consciously created properties that have integrated smart home features, energy efficiency, seamless technology systems, enhanced safety features, and any lifestyle amenity that improves their day-to-day experience of their home and makes them feel good at the end of the day.
While inventory in the luxury segment has marginally improved for buyers, competition remains fierce for the most desirable properties. This likely won't bring down prices, especially in sought-after locations. The rising median price per square foot for luxury properties underscores robust demand.