LPI Symposium: what are the latest trends in luxury?

We attended the major annual event of the agency's international network, Luxury Portfolio International. The symposium took place in Cascais near Lisbon from 29 September to 1 October. The programme was varied and rich in information, allowing us to attend various conferences and workshops. We also met during more informal moments with the agencies representing luxury real estate on the 5 continents. A great opportunity to strengthen ties, build solid relationships and meet future partners. Here is a look back at these three days rich in information, meetings and sharing, with a zoom on three major global trends in the luxury and prestige real estate market.
Despite a gloomy economic context, the luxury market is becoming increasingly attractive. The main reasons? The explosion in global wealth over the last two years ($30 billion in capital created by rising stock markets), the ever-increasing wealth of people under 40 and the explosion of mobile commerce. The major brands (LVMH, Hermés, Chanel, etc.) have taken advantage of this favourable situation and are posting record revenues.
As for luxury real estate, the markets are tending to move from unstable countries to so-called "safe" states. Indeed, millionaires, in constant migration, seek to leave countries with high levels of insecurity and crime, political and/or monetary instability, and high levels of taxation. The preferred countries of adoption, on the other hand, offer an excellent quality of life and advantageous tax conditions. Particularly popular are the United Arab Emirates, Australia, Israel, the United States and Canada, and in Europe, Switzerland, Portugal and Greece.
Trends in the luxury home are also changing: buyers' demands and desiderata are becoming clearer, particularly since the Covid crisis. They now want to make the most of a happy life in a unique, comfortable, safe and healthy place, which should also reflect their personal success. A beautiful view and pleasant surroundings are preferred. Creating a work-life balance, leisure, wellness, accessibility, relationships inside (family) and outside (neighbourhood) the house are also decisive criteria. Finally, self-sufficient properties built with sustainable building materials are particularly appreciated.
