Data from global survey of prime property buyers in 20+ countries was used to create renderings for LPI's "Luxury Home of Today"

Primary interests of buyers include outdoor spaces, views, home security, sustainability and more

NEW YORK , May 11, 2022 /PRNewswire/ -- Seven major priorities currently define what high-net-worth buyers are looking for in this unprecedented, red-hot housing market…and for the first time, those needs and desires are being brought to life through a marquee, never-before-seen illustration by Luxury Portfolio International® (LPI): The "Luxury Home of Today."

Global survey of prime property buyers in 20+ countries was used to create renderings for LPI's "Luxury Home of Today"

The highly unique creation -- unparalleled for the industry and exemplified through a custom set of CGI renderings by Slovak-based Visual Studio -- is the cornerstone of a newly released global study by LPI, which is the world's premier network of luxury residential real estate brokerages.

Titled State of Luxury Real Estate, the report is the result of a survey of more than 4,600 high-net-worth individuals across 20+ countries. It outlines the top interests that are presently driving prime property buyers towards their ideal estates worldwide -- demands that are expected to intensify over the next five years and beyond.

The prevailing luxury home trends are as follows:

A residence that evokes a joyful, satisfying life

Outdoors reimagined as an adult playscape

Sustainability as a focus, not an afterthought

A sense of peace and wellbeing

A souped up, gadget-filled kitchen as the centerpiece

At-home services and a seamless ability to outsource chores

As outlined within the report, the resulting research and renderings mirror key findings by a pair of industry giants, Crestron and Ember. With open living areas, contemporary designs, and lush natural surroundings, LPI's two-story, single-family "Luxury Home of Today" is emblematic of transformative post-pandemic shifts in interests among homebuyers.

"While the luxury residential real estate landscape -- and subsequent demand among buyers -- had been fluctuating before COVID, the pandemic increased some of the changes we're experiencing today," said Mickey Alam Khan , President of Luxury Portfolio International®. "This is particularly true as it relates to a home's literal 'livability,' such as premium 'green' amenities, room to run, self-care features like saunas, steam rooms, and yoga studios, and ornate entertainment areas."

Key highlights from the study include:

Luxury consumers now prefer to have their homes represent happiness and contentment in life. The home of the future -- and that of today, for that matter -- has been reimagined to balance work, leisure, relationships and purpose. These individuals are not only financially successful, but they are artists at the game of life. The home, therefore, is expected to reflect their playful nature. Key attributes, depending on location, include beautiful views, walkability, short commutes, and access to night life.

Years of pandemic-related lockdowns have contributed to a desire among consumers to have more options for fun at home. Residences must therefore be as unique as their buyers. Some of those polled would like a sprawling garden or even a small orchard on the estate. For others, the backyard is the entertainment area: a pool surrounded by a patio or terrace with a fire feature, outdoor kitchen and bar, and the integration of modern technology.

Next generation sustainability will be much broader than solar panels and energy-efficient appliances. It will mean sustainability in the DNA of the home itself, complete with construction materials of a higher-standard, especially non-toxic ones.

Three out of four luxury homebuyers (75%) expect their next home to have three or more fitness and wellness amenities. Essential features and accompanying amenities include tranquility gardens; indoor pools, saunas, and steam showers; massage rooms; yoga or Pilates studios; an abundance of natural light, etc.

Now, more than ever, luxury buyers expect their homes to be outfitted with high-tech security features, specifically bolstering residents against modern threats (such as backup for utilities, data, and internet) and, in some cases, criminal activity. We find this trend to be strongest among those who have had high concern over potential COVID-19 shutdowns leading to increased local crime. Climate change and rising rates of cybercrime are also influencing this defensive posture.

The most in-demand feature of a new kitchen is its gadgetry – 80% say that this category is essential. Smart devices, such as built-in coffee makers, cookers, blenders, and cocktail mixers, create distinctive images in the minds of buyers. Contrary to the trend of openness, the formal dining room remains an in-demand entertainment spot.

More consumers are using app-based services to fetch food, beverages, and any number of packaged goods. "Contactless" buying and selling is here to say. Buyers want homes that will make it easier to outsource everyday chores to willing participants in the local economy. An at-home service that continues to grow in popularity is a personal chef – one who can design a healthy eating plan and also deliver the goods. Future buyers would like a kitchen that is fully outfitted for outside help and, in some cases, a secondary kitchen for in-sourced food preparation.

"Today's global market is being shaped by widespread uncertainty, which makes it all the more crucial to stay well ahead of the most impactful trends," added Alam Khan . "At Luxury Portfolio International®, we have long prided ourselves on not only being able to logically dissect what's influencing the high-end sector, but how to instruct homebuyers, sellers, and agents to adapt accordingly. We view this report to be a valuable tool and an insightful resource as it relates to these individuals' businesses and investment strategies."

To access the complete report, please visit the following link: https://www.luxuryportfolio.com/reports.

To download renderings of LPI's "Luxury Home of Today," please visit: https://www.dropbox.com/scl/fo/2p0wmf1lwfkcw34f7dt9i/h?dl=0&rlkey=4ehaa67p9w8xasteg35i1twrt

ABOUT LUXURY PORTFOLIO INTERNATIONAL® (LPI) LPI (luxuryportfolio.com) is the luxury marketing division of Leading Real Estate Companies of the World®, the largest global network of premier locally branded firms dominated by many of the world's most powerful, independent luxury brands. LPI attracts a global audience of visitors from over 200 countries/territories every month and markets more than 50,000 luxury homes annually. Well Connected.™

CONTACT: Israel Kreps Caroline Underwood Greg McGunagle ikreps@krepspr.com cunderwood@krepspr.com gmcgunagle@transmitterpr.com Kreps PR & Marketing

View original content to download multimedia:https://www.prnewswire.com/news-releases/luxury-portfolio-international-creates-first-ever-luxury-dream-home-model-based-on-top-7-demands-of-high-net-worth-buyers-301544965.html

Gone are the uber-low mortgage rates of 2021. Indeed, average 30-year-fixed mortgage rates have risen from roughly 3.5% to about 5.6% this year, and pros say they expect them to climb further (see the lowest mortgage interest rates you can get now here). One might think that these rising rates would help temper home price growth, as families become less likely to be able to afford a mortgage, but is that true?

Housing in all of the top 100 markets in America is selling at a premium, but in some, that premium is much smaller.

The rate on the 30-year fixed mortgage increased to 5.3%, up from 5.27% last week, according to Freddie Mac.

One of the most tried and true ways to build wealth is by investing in real estate. Real estate can be an effective investment to hedge inflation, provide tax benefits and pass down wealth to heirs. Having a rental property can provide monthly cash flow, and the home’s value may appreciate over time. Rental properties aren’t a perfect solution, especially since real estate costs are skyrocketing. Some alternative, more affordable investments to rental properties include using short-term rentals

The electric automaker is expanding its Greater Washington presence with its lease of a single-story office building.

Welcome back to Deal Dash, our weekly news roundup highlighting some of the commercial real estate dealmaking across Greater Nashville. TC Restaurant Group bought more land in Nashville’s main tourism stretch. Floor & Decor, a nationally traded flooring and accessories retailer, has leased 79,322 square feet in Moores Crossing Center, a Brentwood retail property that was formerly occupied by a call center.

Image source: Getty Images There's a reason home buyers have struggled so much to break into the housing market lately. Not only are home prices up on a national level, but housing inventory has been extremely sluggish.

It's a stunning move for the property, which was an anchor of downtown's revival that that began in the 1990s and included Nordstrom's new flagship store.

The Greensboro-based company will build 300,000-square-foot center in Nashville and add 50,000 square feet to its property in Glendale, Arizona.

Housing costs have jumped by 5.1% in the past year, the fastest annual pace since 1991, while rents are up 4.8% from a year ago, according to the latest CPI.

The median down payment almost doubled to $28,000 in the first quarter of 2022 from $15,000 two years before.

Owning a rental property can seem like a dream investment. Rental properties can actually give you a steady stream of income and the ability to earn a generous return if the property appreciates in value and you can sell it for more than you paid for it. One of the biggest risks of owning a rental property is that your tenants could turn out to be disasters.

It can be tempting to want to avoid investing in real estate. Traditional forms of real estate investing like buying rental properties can be difficult since they often require substantial down payments. Other forms of real estate investments like real estate investment trusts (REITs) and REIT exchange-traded funds (ETFs) have seen losses too. The MSCI US REIT index, which tracks domestic REITs, is down 8.34% since the beginning of 2022. Regardless, real estate offers several long term advantage

Tenants are looking to stay in their existing rental property for longer rather than being potentially hit with record rents by moving elsewhere.

Low housing inventory and high buyer demand have resulted in bidding wars even for homes that might normally linger in cooler markets. It's understandable that you'd be reluctant to pour tons of money into renovations when so many eager buyers are snapping up homes sold as-is, but you're leaving money on the table if you don't make any improvements to your home. According to Remodeling's Cost vs. Value Report, you can recoup 65% on a new steel door and 60.9% on a fiberglass door.

Rising mortgage rates mean the average American family pays 34% of monthly income to afford the typical family home, Black Knight says. It's not all bad news, though.

The hot housing market has shifted the math of renting or buying a home. In the current market, home buyers will need to wait longer for their investments to pay off than they would have before the pandemic, according to a Wall Street Journal analysis of rent and home-buying cost estimates from mortgage-finance startup Tomo. Rent for a single-family home rose 13.1% in February, compared with the same month last year, according to housing data firm CoreLogic.

Palm Beach sellers who have owned homes for a while see unexpected and sizable returns, as a $9.45 million sale at 232 Mockingbird Trail shows.

MarketWatch analyzed five years of monthly housing inventory data and created a tool you can use to search by county for the change in homes available for sale.

The average monthly rent being advertised outside London was a record £1,088 in the first quarter of 2022, Rightmove said.