Women account for 54% of luxury homeowners under 35, reflecting a significant shift in gender distribution among younger luxury homeowners.
The report was commissioned by Luxury Portfolio International, the global real estate network, and the findings form part of its ongoing State of Luxury Real Estate research, which takes a deeper look at the evolving global demographics of luxury homeowners and what it means for the industry.
As more women are climbing the corporate ladder and achieving financial success on their own, with an equal percentage of men and women in corporate leadership – 48% – reporting that they hold executive leadership positions. This is reflected in the changing demographics of luxury homeowners, the report revealed.
Women account for 54% of luxury homeowners under 35, indicating a significant female presence in luxury real estate.
The study found that among luxury owners under 35 years old, 51% have a master’s degree or higher, while this figure stands at 62% for those aged 35-64.
The data was taken from a global survey across 24 countries, including the UK, US, Europe the Middle East and Asia Pacific,
“Affluent young women are on trajectory to level the playing field, wielding purchasing power, wealth accumulation, education and corporate positions to make serious real estate decisions earlier in their life. This has major ramifications for brands and retailers targeting homeowners and the luxury property sector.”
Mickey Alam Khan, president of Luxury Portfolio
Overall, the younger generation remains a highly educated and ambitious group. Another notable difference between the age groups lies in job titles and varying levels of responsibility.
Younger homeowners tend to hold junior (23%) and executive (46%) positions, while middle-aged owners lean more towards senior (24%) and executive roles (51%).
“This data suggests that younger individuals are making significant strides early in their careers, acquiring luxury homes at a faster pace than previous generations. Indeed, it follows a broader trend among the affluent that the ‘first luxury experience’ is happening earlier in life now for today’s young people compared to generations past,” Alam adds
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