We are pleased to introduce the Sotheby’s International Realty 2023 Luxury Outlook report, which outlines the industry trends and happenings across high-end residential markets around the world. In 2022, we saw mortgage rates soar after two years of historic lows, fueling a “lock-in” effect that strained an already tight market as homeowners continued to spend more time at home than ever before. In this report, we highlight the trends that you can expect in the year ahead, from the projected flow of global wealth into the real estate market to luxury real estate in the metaverse.
Through the 2023 Luxury Outlook report, our goal is to help you navigate this fast-moving and ever-changing real estate market. We hope that this compilation of research and industry perspectives, exclusively presented by Sotheby’s International Realty, helps you as you look to invest your equity wisely in the year ahead.
Here is a snapshot of takeaways from the report:
• Strong Appeal for Luxury Properties, Despite Interest Rate Hikes
• With Inventory Increases, Markets Begin to Turn—Slightly—in Buyers’ Favor
• An Explosion of Global Wealth, Funneled into the Real Estate Market
• For Passing Wealth Between Generations, Property Is Still King
• High-End Vacation Rental Spots Face Changing Market Post-Covid
• Buyers Around the Globe Expand Their Searches
• Naturehoods: The Great Outdoors is a Top Amenity
• Supply-Chain Issues Ease in Some Areas, Yet Prices Remain High
• Real Estate Industry Explores the New World of the Metaverse
As always, we are here to answer any questions regarding the market locally or assist in connecting you with a Sotheby’s International Realty expert in another part of the country or world.
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Wallace & Co. Sotheby’s International Realty