The affluent class is the fastest-growing segment of the economy. The number of people with a net worth of more than $30 million is up 58% over the past decade worldwide.
This is what Stephanie Anton told a select gathering of Dorsey Alston agents at the oldest and largest locally-owned Atlanta real estate firm’s Buckhead office. She is the president of Luxury Portfolio International, the luxury marketing division of Leading Real Estate Companies of the World®, the largest network of premier locally-branded real estate companies.
As evidence, she pointed out gold prices in 2019 were the highest in seven years, and investment bank Goldman Sachs reported bitcoin was best-performing asset last year, doubling in value and outpacing 31% return for U.S. tech stocks.
As for what all of this means for the luxury real estate market, Anton said the market has stabilized. In the third quarter, sales of $1.5 million homes increased 3.2% year to year. The number jumped another 1.6% in the fourth quarter, marking the second consecutive quarter of increases after three-quarters of declines.
She also spoke about what the ultra-wealthy are looking for in their homes. These include a focus on design, eco-friendly living and privacy. She completed her presentation with some tips for the agents about how to reach ultra-affluent buyers and sellers and effective marketing plans.
The 200-plus selected affiliated companies that make up Luxury Portfolio International represent the high-end component of an organization which encompasses 565 companies, 4,300 offices and 130,000 associates producing $254 billion in sales last year among the top 500 U.S. firms, with over one million transactions in over 70 countries.