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3 Trends in Luxury Real Estate


Cortni Dietz

3 Trends in Luxury Real Estate

With 2022 just around the corner, we wondered: what are the trends in luxury real estate we can expect to see more of in the new year? We scoured the web and spoke with the experts to determine three of the biggest emerging trends in luxury real estate.

“Work from anywhere” means live anywhere. Beginning in March 2020, the global pandemic permanently altered the work landscape in the United States. Almost immediately, the young and mobile workforce dispersed, with many remote workers trading high-density, expensive cities for lesser-known locales that offered walkability, nature, and a higher quality of life. Destinations like Austin, Texas; Park City, Utah; Montecito, California; and Aspen, Colorado are among the second-tier cities that have seen an explosion in growth throughout COVID-19. What this also means is that vacation destinations are no longer just for vacations; homes in these markets are becoming more valuable due to larger demographic interest.

High-tech homes. Many luxury real estate buyers are looking for vacation homes that are as well-equipped with technology—if not even more so—than their permanent residences. Buyers want homes with the technology already fully integrated and ready to go: think smart locks, electric car chargers in the garage, and smart outlets that work in conjunction with Amazon Alexa or Google Home. If homes are not already complete with these features, luxury vacation home buyers will look to their property manager to outfit. Sustainability matters, as well. Buyers are increasingly looking for homes with a lower carbon footprint and features like solar panels on the roof and energy-saving geothermal systems.

Younger buyers. According to a recent survey from the National Association of Realtors, more than 38% of home buyers today are millennials—the generation born from 1981 to 1996—making that age group the largest cohort of home buyers in the market today. And wealthy millennials are foregoing the traditional “starter home” of their parents’ era and snapping up luxury real estate right out of the gate.

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