RISMedia | Liz Dominguez
Demand for luxury home purchases has not dwindled even as the pandemic’s volatile nature continues to pose challenges in real estate. According to a 2022 State of Luxury Real Estate (SOLRE) report, authored by Luxury Portfolio International® (LPI), home prices in the segment are expected to continue increasing as supply struggles to meet high demand.
While most luxury buyers (74%) are still reporting strong personal economic confidence, 75% say they are very concerned their discretionary spending power could soon be tested. However, LPI forecasts that the market could stabilize in the near future even as the fast-paced market is expected to continue through 2022.