Rockville, March 20, 2024 (GLOBE NEWSWIRE) -- According to Fact.MR, a provider of market research and competitive intelligence, the global Ready-to-move-in Luxury Home Market is estimated to reach a valuation of US$ 580 billion in 2024 and is projected to expand at a CAGR of 7.3% from 2024 to 2034. In today's real estate landscape, there has been a noticeable increase in the demand for ready-to-move-in luxury homes.
This trend has been supported by increasing disposable incomes of high net-worth individuals, allowing them to invest in upscale properties that offer convenience and indulgence. As people's financial capacities grow, so does their aspiration for a higher quality of living.
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There is a prevailing inclination toward luxury amenities among homebuyers, ranging from smart home technologies to lavish recreational facilities. These amenities not only enhance the comfort and convenience of living but also reflect a status symbol in today's society. Consequently, developers are witnessing a notable uptick in the sales of ready-to-move-in luxury homes, as they cater to the evolving preferences and lifestyle choices of affluent consumers. As the pursuit of luxury living continues to intensify, the demand for such properties is expected to remain robust in the foreseeable future.
Key Segments of Ready-to-move-in Luxury Home Market Research Report
| By Type of Home | By Unit Size | By End User | By Region |
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Key Takeaways from Market Study
- The global ready-to-move-in luxury home market is projected to expand at a CAGR of 7.3% through 2034.
- Sales of ready-to-move-in luxury homes are estimated at US$ 580 billion in 2024.
- The market is forecasted to reach US$ 1,173 billion by 2034-end.
- The North American market is forecasted to expand at a CAGR of 7.5% through 2034.
- Luxury homes are estimated to hold 60.2% market share in 2024.
- East Asia is projected to account for 29.1% of the global market share by 2034.
“Increasing luxury home demand driven by rising disposable incomes and preference for upscale amenities, reflecting status symbol and high comfort levels,” says a Fact.MR analyst.
Market Competition
In the market for ready-to-move-in luxury homes, competition among key players such as Houzz, HomeAdvisor, Yelp, and Angie's List is fierce as they vie for maximum profits. These platforms are employing various strategies to attract affluent homebuyers, including offering comprehensive listings of high-end properties, showcasing immersive virtual tours, and providing personalized concierge services.
Strategic partnerships with real estate agencies and exclusive access to off-market listings are common tactics employed to gain an edge in this competitive landscape. Ultimately, in the pursuit of profitability, these competitors continually innovate to deliver unparalleled luxury home-buying experiences, catering to the discerning tastes of affluent clientele.
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| Report Attribute | Details |
| Value Projection (2034) | US$ 1,173 Billion |
| Growth Rate (2024-2034) | 7.3% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 84 Tables |
| No. of Figures | 112 Figures |
Factors Driving Growth in Luxury Home Market in the United States
According to a recent analysis by Fact.MR, a prominent market research and competitive intelligence provider, the luxury home market in the United States is experiencing significant growth, fueled by multiple factors including rising disposable incomes and a preference for upscale amenities. Dominating 82.3% of the ready-to-move-in luxury home market share in North America, the nation stands as a beacon of affluent living.
The surge in demand for luxury homes in the United States can be attributed to a confluence of factors, notably the desire for convenient access alongside privacy and security. Discerning buyers prioritize residences that offer seamless proximity to urban conveniences such as high-end shopping, fine dining, and cultural offerings, while also serving as sanctuaries from the urban hustle.
Elevated concerns regarding privacy and security are compelling buyers to seek properties equipped with advanced security systems, gated entrances, and secluded surroundings. This blend of convenience, privacy, and security is fueling the escalating demand for luxury homes throughout the United States.
Meanwhile, in China, the burgeoning interest in luxury homes among residential buyers is being propelled by the rapid pace of urbanization. As cities expand and populations swell, there's a burgeoning need for premium residences that provide a high-quality living experience. Affluent buyers in China are actively seeking properties that offer both comfort and status, thereby driving the demand for luxury properties. With urbanization showing no signs of slowing down, the appetite for high-end homes in China is poised to remain robust in the foreseeable future.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global ready-to-move-in luxury home market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on type of home (super luxury homes, luxury homes), unit size (1,000 to 3,000 square feet, more than 3,000 square feet), and end user (residential buyers [individuals], corporate buyers), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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