Country for PR: United Kingdom
Contributor: PR Newswire Europe
Monday, March 15 2021 - 02:03
New Report Reveals Five Behavioural Trends Behind Home Buying in 2021
LONDON, March 15, 2021 /PRNewswire-AsiaNet/ --

A new report by Luxury Portfolio International reveals five behaviours that are 
driving property purchases in 2021 amongst Luxury Buyers.

Work, Live, Play at Home

62% of Luxury Buyers wish to Work, Live, Play at Home. 75% actively plan this.

The top trend is the shift in time spent inside the home as it's repurposed for 
working, learning, living and playing. 

Freedom of Movement

61% of Luxury Buyers are Likely to Buy International Property. 76% are 
interested in having Dual-Citizenship.

Travel remains a passion, with demand for this growing over lockdowns. Holidays 
ignite second home purchases, and freedom of movement is aided by 
dual-citizenships. Buyers in developing-economies showing greater interest in 
golden passports. 


65% of Luxury Buyers want to be more Self-Reliant.  79% want to increase 
Personal Security.

Luxury Buyers want more rooms for live-in help, great internet connection, 
games rooms and local shopping centres to facilitate self-reliance. They want 
to improve home security and control their physical environment. 

Embracing Spontaneity

84% of Luxury Buyers want more Fun Things to do at Home.

Embracing spontaneity is borne out of lockdowns with increased desire for 
delightful surprises, fun at home and breaking out of the rut. Plus, greater 
need for physical activity (sports, being outdoors), entertainment (video 
games, streaming media), and enjoying art and luxury brands. 

Financial Confidence

82% of Luxury Buyers are Confident in Household Financial Strength. 67% say 
Long-Term Economic Security is a concern.

Luxury Buyers are confident about financial strength, yet 67% agree long-term 
financial security is a concern with tax planning or shifting a base of 
operation to tax-friendly nations being considered. 

"It is clear the home must meet more needs in 2021. The must-have list is 
longer than ever.  This represents strong potential for luxury estate agents 
and ancillary markets," said Mickey Alam Khan, president of Luxury Portfolio 

Editors Notes: State of Luxury Real Estate study focused on consumers in the 
top 1%-5% income bracket of 17 countries, representing more than 30 million 
households. It was commissioned by Luxury Portfolio International® (LPI), the 
luxury marketing division of Leading Real Estate Companies of the World®, the 
largest global network of leading residential estate agencies.  

Luxury Buyers are defined as affluent consumers likely to purchase residential 
property in the next 3 years, with an estimated value of USD $1 million plus.


SOURCE:Luxury Portfolio International (LPI)