The group we refer to as The New Aristocracy are high-net worth consumers aged 25 – 49. This group encompasses both Millennials and the younger portion of Generation X. The term “New Aristocracy” is unlike any generation before it. They will be larger in number and greater in economic power than the wealthy in the gilded age of “Rockefeller’s”. Beyond that they will have a lifetime of experience in living a luxury lifestyle, as they are the children of inherited wealth.
Luxury Portfolio International and YouGov partnered to create a survey of real estate demands and expectations among high-net-worth consumers in America. A total of 536 completed interviews among target consumers were collected between December 9 and December 18, 2017. Target consumers are deigned as ages 25+ in the market to purchase a residence in the next 3 years, and currently have investable assets of $1million or more. The survey has a margin of error os +/- 6.1% among total.
For over a decade, Luxury Portfolio International has been studying the affluent consumer through surveys to stay current on luxury home buyer trends and preferences. The research included hard and soft luxury categories and brands.
Younger buyers “New Aristocracy” who have grown up with wealth have greater exposure to luxury, are more educated and aware of their likes and dislikes. They know brands, they demand quality and they are familiar with real estate. How will this new aristocracy affect the real estate market?
The need for security and privacy comes as a surprise as this generation is known for sharing their personal life through social media. These top essential features have become absolute necessities for the “New Aristocracy”.
The million dollar home buyers of the future are looking for a private secure enclave they can call home. In fact they are seeking this sense of security in all parts of their lives. This report tells us what are they looking for?
Luxury Portfolio International is the luxury face of Leading Real Estate Companies of the World, the largest global network of premier locally branded companies dominated by many of the world’s most powerful independent luxury real estate brokerages. CIR Realty is the ONLY member in Alberta. Bob and Claudette Coutts are CIR Realtors.