E X E C U T I VE
N OT E S
M I C H A E L A LT N E U Vice President, Coldwell Banker Global Luxury
Real estate analysis is based on what has occurred in the past; it is how predictions are made and how future decisions are evaluated. The last two years, as well as the current crisis unfolding in Ukraine, have profound lessons for our present and future. I wish to take this moment to acknowledge this rapidly evolving situation. Although we do not understand at this time what the full impact will be on the global community, our thoughts are with everyone impacted. Turning back to what we do know, the impacts of a once-in-a-generation pandemic inspired uncertainty at first, then a paradigm shift: people began re-imagining their ideas of home and rediscovering their essential values at the very moment when wealth was rising to historic levels around the world, thanks to rebounding stock markets and surging home equity gains. According to the latest Wealth-X data, the population of individuals with a net worth of $5 million+ reached more than 3.6 million globally. That was an increase of 19.8% over 2020 and a notable difference from 2020, which saw only a 2.2% gain over 2019. This extraordinary wealth growth led to a real estate expansion like we’ve never seen before. A new map for luxury opened up new locations and multiple homeownership in greater numbers. Home as safe haven became the rallying cry for our time.
COLDWELL BANKER GLOBAL LUXURY® - THE REPORT 2022
Where do we go from here? What opportunities should we look for?
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Rather than focusing solely on the past, the Coldwell Banker Global Luxury® program is looking forward in The Report 2022. Annual statistics in the top 10% of 120 U.S. markets were analyzed with our partner, the Institute for Luxury Home Marketing, to provide a view into future trends that could impact luxury real estate and the next opportunities that lie ahead. We consulted with Wealth-X to provide a global outlook on wealth, homeownership trends and where current and upcoming pockets of international affluence may reside. Wealth management expert Barry Ritholtz added his financial perspective, and as always, Coldwell Banker Global Luxury Property Specialists lent their boots-on-the-ground market insights. We hope you take advantage of the valuable information in this year’s report. The future is now.
Michael Altneu