Sotheby’s International Realty Reveals New Hot Spots for Global Investment.
In a recent report, Sotheby’s International Realty revealed the top 10 countries where affluent buyers are expanding their reach. The report, titled “Sotheby’s International Realty 2024 Luxury Outlook,” found that buyers are increasingly looking for properties in countries with enticing tax incentives and strong economies.
Here are the top 10 countries identified by Sotheby’s International Realty:
- Australia
- Mexico
- Saudi Arabia
- Turkey
- New Zealand
- Portugal
- Greece
- South Africa
- Croatia
- Israel
According to the report, demand for luxury real estate in these countries is being driven by several factors, including:
Increased affluence: The number of high-net-worth individuals is growing worldwide, and this is leading to a greater demand for luxury goods and services, including real estate.
Geopolitical stability: Many of the countries on the list are considered to be stable and politically stable, which is attractive to buyers who are looking for security.
Tax incentives: Many governments offer tax incentives to attract foreign investment, and this is making these countries even more attractive to affluent buyers.
The report also found that the intergenerational transfer of wealth is also driving demand for luxury real estate. As baby boomers age, they are increasingly passing on their wealth to their children, and this is leading to an increase in the number of buyers in the luxury market.
However, the report also cautioned that there are some challenges that buyers should be aware of. For example, the global economy remains uncertain, and this could lead to a decline in demand for luxury real estate. Additionally, some countries on the list have strict regulations on foreign investment, which could make it difficult for buyers to purchase property.
Despite these challenges, the outlook for luxury real estate is positive overall. As the world’s population becomes increasingly wealthy, the demand for luxury goods and services is expected to continue to grow. This will create opportunities for investors who are looking to buy and sell luxury real estate.
Critical Note
While the report from Sotheby’s International Realty provides valuable insights into the current state of the luxury real estate market, it is important to note that there are some limitations to the data. For example, the report only surveyed Sotheby’s International Realty agents, and this means that it may not be representative of the entire luxury real estate market.
