{"id":5297,"date":"2026-04-29T07:00:06","date_gmt":"2026-04-29T14:00:06","guid":{"rendered":"https:\/\/livsothebysrealtyca.blog\/?p=5297"},"modified":"2026-04-29T11:49:27","modified_gmt":"2026-04-29T18:49:27","slug":"prime-numbers","status":"publish","type":"post","link":"https:\/\/livsothebysrealtyca.blog\/spu\/prime-numbers\/","title":{"rendered":"Prime Numbers"},"content":{"rendered":"
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What the 2026 Sotheby\u2019s International Realty agent survey tells us about the state of luxury property markets worldwide.<\/h2>\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n<\/div><\/div>\r\n\t\t
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The 2026 Sotheby\u2019s International Realty\u00ae agent survey is a comprehensive poll of \u2028the brand\u2019s luxury real estate agents and franchise owners. For homebuyers and sellers, the survey reveals key factors impacting today\u2019s luxury real estate market\u2014including the extent to which geopolitical uncertainty is exerting an influence around the world, the continuing strength of cross-border demand, and \u2028the general steadiness of home prices\u2014 allowing them to make informed decisions based on the insights and opinions of the network\u2019s worldwide affiliates and agents.<\/span><\/p>\n

One of the key findings is the unique nature of the global luxury property market: In 2025, only 51% of homebuyers worldwide purchased a property as their primary residence. The percentage was higher in North America, South\/Latin America, Europe and Oceania, but much lower in Asia, Africa\/Middle East and \u2028the Caribbean.<\/span><\/p>\n

\u201cAffluent buyers think in terms of property portfolios rather than single homes,\u201d says Philip A. White Jr., president and CEO of Sotheby\u2019s International \u2028Realty. \u201cThey are often splitting their time between multiple residences. For many Sotheby\u2019s International Realty clients, \u2028this isn\u2019t their first home\u2014it\u2019s the second, third or sometimes even the fourth property in their portfolio.\u201d<\/span><\/p>\n

Second-home ownership accounted for 28% of luxury purchases globally\u2014\u2028a significant share that underscores \u2028how common multi-property ownership \u2028is among affluent buyers. Regional variations were modest, with second-home purchases rising to 34% in Asia and 33% \u2028in the Caribbean\u2014but more local markets revealed dramatic patterns.<\/span><\/p>\n

In Florida, for instance, 54% of \u2028luxury purchases were second homes. \u2028This concurs with an August 2025 report from wealth intelligence firm Altrata, which identified Miami as the top destination for ultra-high-net-worth individuals (UHNWIs) looking for a second home, followed by New York, London and Los Angeles.<\/span><\/p>\n

The agent survey reveals what is driving today’s affluent buyers across seven global regions: North America, South\/Latin America, the Caribbean, Europe, Africa\/Middle East, Asia and Oceania. It also shows where the market \u2028is heading in these places\u2014where prices are rising, where they are falling and \u2028where competition with foreign buyers \u2028is increasing.<\/span><\/p>\n

\"Luxury

Luxury properties in San Miguel de Allende, northwest of Mexico City, are sought after as second homes.<\/p><\/div>\n

\"\"The main reasons homebuyers are looking to purchase a property
\n<\/strong>Source: 2026 Sotheby\u2019s International Realty agent survey<\/strong><\/h6>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n<\/div><\/div>\r\n\t\t
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For many sotheby\u2019s international realty clients, this isn\u2019t their first home\u2014it\u2019s the second, third or sometimes even the fourth property in their portfolio.<\/span><\/h6>\n<\/blockquote>\n
-Philip A. White JR., president and CEO, Sotheby\u2019s International Realty<\/em><\/h6>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n<\/div><\/div>\r\n\t\t
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The motivations of \u2028luxury homebuyers<\/strong><\/h5>\n

While seeing an appreciation in their home\u2019s value or benefiting from rental income from a second or third property were considerations for many homebuyers, relatively few purchases \u2028were driven primarily by such motives. Purchases made mainly for capital growth or rental income each accounted for just 10% of sales on average across the world. However, in certain regions this figure was higher, with homebuyers in Asia and Africa\/Middle East more interested in capital growth and many in the Caribbean and South\/Latin America seeking properties they could rent out.<\/span><\/p>\n

Security and privacy were the top priorities among homebuyers, with most agents reporting these factors as growing concerns for their clients (see page 64 for more on this topic). An area\u2019s economic and political stability were also major factors. An area\u2019s local tax structure was \u2028a significant driver of interest, with \u2028more than half of respondents saying \u2028a \u201cfavorable tax environment\u201d was a key concern. This was particularly true in Europe and the Caribbean, where at least three-quarters of agents said their clients cited taxes as a motivator in choosing \u2028a future home there.<\/span><\/p>\n

Multigenerational living is also becoming increasingly important in certain regions, including Africa\/Middle East, North America, and South\/Latin America (for more on this topic, see page 52). <\/span><\/p>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n<\/div><\/div>\r\n\t\t

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Major considerations among homebuyers
\n<\/strong>Source: 2026 Sotheby\u2019s International Realty agent survey (ranked by importance)<\/strong><\/h6>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n\n\t
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Economic and political impacts on luxury markets
\nSource: 2026 Sotheby\u2019s International Realty agent survey<\/strong><\/h6>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n<\/div><\/div>\r\n\t\t
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Economic and political impacts on markets<\/strong><\/h5>\n

Sotheby\u2019s International Realty affiliated agents were asked to evaluate factors that had impacted their local markets over the past 12 months and whether those factors had had an overall positive, negative or unchanged effect.<\/span><\/p>\n

Globally, inflation was identified as \u2028the biggest obstacle\u2014apart from in Asia, where responses were evenly split between both positive and negative impacts. \u2028This reflects a trend seen across the continent, with The Economist reporting in September 2025 that, apart from in Japan and Bangladesh, \u201cthe average rate across the continent\u2019s 10 biggest economies is \u2028a tame 1.3%. Consumer prices have fallen outright in China, the biggest of all, and \u2028in Thailand. Other Asian economies, including the Philippines, are not far from deflation. Even in inflation-prone India, prices rose by just 1.6% in the year to July 2025, the slowest rate since 2017.\u201d<\/span><\/p>\n

Meanwhile, in North America, interest rates were a bigger concern, with just \u2028over two-thirds of agents reporting \u2028a negative influence on their markets. \u2028This view was echoed in the Caribbean \u2028and South\/Latin America.<\/span><\/p>\n

However, interest rate changes have had a more positive impact in Oceania and Europe. With the U.S. Federal Reserve cutting benchmark interest rates in September, October and December 2025,3 homebuyers\u2019 concerns could be alleviated somewhat in 2026. According to commentary released in September 2025, the Mortgage Bankers Association in the U.S. forecasts \u201ca 30-year mortgage rate expectation of 6.5% by the end of the year, declining to 6.2% by the end of 2027.\u201d<\/span><\/p>\n

Politics was also a significant factor in homebuying choices. More than half of agents in North America, South\/Latin America and Oceania said domestic politics was hampering their markets, \u2028and the global political situation was having a negative effect on several markets, particularly in North America. Respondents in Asia, the Caribbean and Africa\/Middle East were more neutral or upbeat about the impact of both. <\/span><\/p>\n

\"Homebuyer

Homebuyer demand is on the rise in Oceania, placing a premium on properties like this apartment overlooking the Swan River in Perth, Western Australia.<\/p><\/div>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n<\/div><\/div>\r\n\t\t

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Real estate metrics \u2028and transactions <\/strong><\/h5>\n

Agents also provided insight into local property market metrics, including the number of homebuyers and home sellers, inventory levels and the number of sales over the past year.<\/span><\/p>\n

In terms of supply, inventory levels rose around the world, particularly in North and South\/Latin America. The Caribbean was the only region where agents reported less inventory.<\/span><\/p>\n

Homebuyer demand varied widely across the globe, with the biggest boost reported in the Caribbean, followed by Africa\/Middle East and Oceania, pointing to a sellers\u2019 market continuing in these locations. Meanwhile, homebuyers had \u2028less competition in South\/Latin America and in North America.<\/span><\/p>\n

The number of transactions in luxury property markets also varied widely by region. Sales activity increased in the Caribbean, Asia and Europe, according \u2028to agents, while Oceania saw a decrease.<\/span><\/p>\n

The survey also captured data on home price changes over the past 12 months. Agents in both Africa\/Middle East and Asia report double-digit price growth, particularly in Japan, where agents reported 21.4% growth. Dubai also showed exceptional strength in the region.<\/span><\/p>\n

\u201cDubai continues to demonstrate exceptional resilience and growth, with double-digit price appreciation driven \u2028by sustained demand for prime and super-prime properties,\u201d says Leigh Borg, executive partner, Dubai Sotheby\u2019s International Realty. \u201cThe market has evolved beyond short-term speculation; today\u2019s buyers are long-term investors who see Dubai as a global city of stability, sophistication and increasing opportunity. Recent landmark transactions, including several record-breaking villa and branded residence sales, reflect the depth of wealth entering the market and the continued confidence in Dubai\u2019s luxury real estate sector. As inventory tightens and new launches grow more curated, we expect premium properties to maintain their upward trajectory into 2026.\u201d<\/span><\/p>\n

In regions where prices decreased, including North America and Europe, the reductions were relatively modest. Oceania showed a larger drop, driven primarily by \u2028a 13.1% decline in New Zealand.<\/span><\/p>\n

Sotheby\u2019s International Realty affiliated agents also provided forecasts \u2028for their local housing markets through mid-2026. Agents in several regions said they expected to see property prices \u2028grow, including in Oceania, South\/Latin America and Europe. Prices in Asia are projected to continue growing, but at \u2028a slower pace than in 2025. And in the Caribbean and North America, agents anticipated a small decline.\u00a0<\/span><\/p>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n<\/div><\/div>\r\n\t\t

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Change in market indicators over the past 12 months
\nSource: 2026 Sotheby\u2019s International Realty agent survey<\/strong><\/h6>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n
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Luxury home price growth
\nSource: 2026 Sotheby\u2019s International Realty agent survey<\/strong><\/h6>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n<\/div><\/div>\r\n\t\t
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\"Properties

Properties in Florida, like this one in Sarasota, are hugely popular with both domestic and overseas homebuyers.<\/p><\/div>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n<\/div><\/div>\r\n\t\t

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The rise of Millennial homebuyers<\/strong><\/h5>\n

Several groups of homebuyers are becoming more active according to the survey, particularly Millennials (born \u20281981-96) and foreign buyers looking for \u2028a \u201cgolden visa\u201d or other residency benefits.<\/span><\/p>\n

The biggest jumps in the number of Millennial buyers of luxury properties<\/a> were in the Caribbean, where 75% of agents noted an increase, followed by South\/Latin America (64%) and Asia (59%). \u201cAs global economies shift, we are continuing to see an influx of new primary and secondary homebuyers choosing Puerto Rico,\u201d says Oriana Juvelier, vice president and broker, Puerto Rico Sotheby\u2019s International Realty. \u201cWe are increasingly seeing that HNWIs \u2028in particular are drawn to the wellness- inspired quality of life in warmer climates, such as we have here in Puerto Rico. Furthermore, business incentives are \u2028more important than ever due to rising costs of living and doing business in the U.S. This is driving Millennials, many of \u2028whom are for the first time considering their family\u2019s long-term prospects, to choose locations that are both culturally aligned and tax-favorable for building family wealth.\u201d<\/span><\/p>\n

Millennials are also becoming more active in North America, primarily in the U.S., according to 44% of agents there. This concurs with findings in the 2025 Home Buyers and Sellers Generational Trends Report, released by the National Association of REALTORS\u00ae in April 2025, which found that Millennials made up 29% of recent homebuyers in the U.S., second only to Baby Boomers (born 1946-64), who made up 42%.5.<\/span><\/p>\n

The Caribbean islands, meanwhile, remain a hotspot for those looking for so-called golden visas\u2014citizenship and residency benefits given to foreigners who make a sizable investment in a country\u2019s economy. A large majority (83%) of agents working in the region reported an increase in this type of buyer, compared with \u2028a global average of nearly half. The lure of Oceania for foreign buyers is also above average, with more than half of agents noting an uptick.<\/span><\/p>\n

According to a September 2025 report in the Guardian,6 since the requirements for New Zealand\u2019s Active Investor Plus \u2028visa were relaxed in April 2025\u2014lowering investment thresholds and reducing the time applicants must spend in the country to establish residency\u2014the number of foreigners who have applied has tripled, with most coming from the U.S. and China.<\/span><\/p>\n

\"\"<\/strong>Change in buyer types
\nSource: 2026 Sotheby\u2019s International Realty agent survey<\/strong><\/h6>\n
\"Luxury

Luxury homebuyers are increasingly drawn to properties with wellness facilities, such as this eight-bedroom oceanfront property with an infinity pool in Puerto Rico.<\/p><\/div>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n<\/div><\/div>\r\n\t\t

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An increasingly active overseas market<\/strong><\/h5>\n

oreign homebuyers are active all over \u2028the world. According to the survey, 82% \u2028of agents sold properties to homebuyers from outside their own countries, with Africa\/Middle East, Europe and the Caribbean seeing the highest international activity. North America was the outlier, with a little over a third of respondents dealing with overseas purchasers, though this figure rose to 61% in Florida.<\/span><\/p>\n

Among the agents who sold to both domestic and foreign buyers, a little over one third of their clients were from outside the country. The Caribbean and South\/ Latin America had the highest proportion, with more than half of buyers coming from abroad, followed by Africa\/Middle East and Asia.<\/span><\/p>\n

While in Africa\/Middle East and South\/Latin America most agents reported an increase of overseas buyers over the past two years, in other regions agents reported activity consistent with previous years.<\/span><\/p>\n

Looking specifically at overseas buyers who want to relocate permanently to another country, the survey results show a higher proportion in tropical locations. More than 90% of agents in the Caribbean and roughly 80% from Oceania and South\/Latin America noted an increase there, as well as all of the respondents from Africa\/Middle East.<\/span><\/p>\n

Agents outside the U.S. identified American buyers as the dominant overseas buying force in their markets, including across Asia, the Caribbean, Europe and South\/Latin America.<\/span><\/p>\n

In Oceania, however, homebuyers from China were the biggest overseas players. They were also the third most active in the U.S., behind Canadians and British homebuyers. Meanwhile, in Asia, apart from the large American presence, most foreign homebuyers came from \u2028other parts of the continent, including Hong Kong, Singapore and Malaysia. <\/span><\/p>\n

“In many global cities, such as Singapore, London and Hong Kong, governments have introduced policies \u2028to curb property price increases\u2014such \u2028as additional taxes and purchase restrictions\u2014which have made acquisitions more difficult,\u201d says Sara Grace Takano, global real estate advisor, List Sotheby\u2019s International Realty, Japan. \u201cIn contrast, Japan imposes relatively \u2028few restrictions on foreign buyers, and \u2028the depreciation of the yen has created \u2028a strong sense of value. Moreover, Tokyo\u2019s excellent infrastructure, safety and global reputation make it an attractive \u2018safe asset\u2019 destination for wealthy individuals and institutional investors worldwide.\u201d<\/span><\/p>\n

As the survey findings reveal, despite varying regional conditions, luxury real estate markets continue to operate globally with sustained cross-border activity. Homebuyers can use these trends to identify locations that fit their lifestyle preferences and meet their needs. This can help them establish where the best opportunities for their next purchase \u2028can be found.\u00a0<\/span><\/p>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n

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Change in market indicators for foreign buyers
\nSource: 2026 Sotheby\u2019s International Realty agent survey<\/strong><\/h6>\n

 <\/p>\n

\n
Article originally shared by Sotheby’s International Realty in the 2026 Informe Perspectivas del Lujo<\/a>.<\/h6>\n\t<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\n\t\t\t<\/div> \n\t\t<\/div>\n\t<\/div> \n<\/div><\/div>","protected":false},"excerpt":{"rendered":"What the 2026 Sotheby\u2019s International Realty agent survey tells us about the state of luxury property markets worldwide. The 2026...","protected":false},"author":237480086,"featured_media":5294,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false,"jetpack_post_was_ever_published":true},"categories":[765166367,765166251],"tags":[765166368,318499075,765166302,765166371,765166327],"class_list":{"0":"post-5297","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-765166367","8":"category-luxury-outlook-report","9":"tag-2026-luxury-outlook","10":"tag-liv-sothebys-international-realty","11":"tag-luxury-homebuyers","12":"tag-luxury-worldwide","13":"tag-millennial-homebuyers"},"aioseo_notices":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/livsothebysrealtyca.blog\/wp-content\/uploads\/2026\/02\/content-1.jpg?fit=2000%2C1334&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/peJ6Dp-1nr","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/livsothebysrealtyca.blog\/spu\/wp-json\/wp\/v2\/posts\/5297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/livsothebysrealtyca.blog\/spu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/livsothebysrealtyca.blog\/spu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/livsothebysrealtyca.blog\/spu\/wp-json\/wp\/v2\/users\/237480086"}],"replies":[{"embeddable":true,"href":"https:\/\/livsothebysrealtyca.blog\/spu\/wp-json\/wp\/v2\/comments?post=5297"}],"version-history":[{"count":5,"href":"https:\/\/livsothebysrealtyca.blog\/spu\/wp-json\/wp\/v2\/posts\/5297\/revisions"}],"predecessor-version":[{"id":5314,"href":"https:\/\/livsothebysrealtyca.blog\/spu\/wp-json\/wp\/v2\/posts\/5297\/revisions\/5314"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/livsothebysrealtyca.blog\/spu\/wp-json\/wp\/v2\/media\/5294"}],"wp:attachment":[{"href":"https:\/\/livsothebysrealtyca.blog\/spu\/wp-json\/wp\/v2\/media?parent=5297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/livsothebysrealtyca.blog\/spu\/wp-json\/wp\/v2\/categories?post=5297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/livsothebysrealtyca.blog\/spu\/wp-json\/wp\/v2\/tags?post=5297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}