The results of a study on luxury real estate trends conducted by Sotheby’s International Realty and Architectural Digest suggests that the market for luxury homes remains strong. The survey finds that a significant percentage of luxury homebuyers are seeking to purchase an additional home within the next two years.
* One in three Architectural Digest subscribers (36 percent) is planning to acquire a secondary/additional home within the next two years.
* Of those who already own three or more homes, 49 percent plan to acquire an additional home within two years.
* Of those who already own a second home, 35 percent plan to acquire a third home within two years.
* In an indication that young affluent consumers are in the market for second homes, 44 percent of those under age 45 stated that they may acquire a second home in the near future.
The study, “Seeking a Luxury Lifestyle,” found that waterfront property (75%) is the most sought after amenity when buying a secondary residence. Additional amenities studied by the survey indicated the following preferences: on/near golf courses (48%); near aquatic activities (45%); in-home fitness center (34%); media room/home theater (32%); on/near ski slopes (28%); wine cellar (18%); gourmet/large kitchen (10%); large backyard (5%); and pool (5%).