“If not in stock and bond markets, where are affluent consumers currently parking their wealth?” was a question addressed last Tuesday in the pages of fastcompany.com. The folks at Fast Company claim to be helming “the world’s leading progressive business publication,” so they should have a pretty good idea about how the affluent are seeking to protect their assets.
For the Affluent, Palm Beach Properties’ Growing Attraction
That’s a question likely to raise interest from even modestly affluent Palm Beach consumers—especially for those who have recently watched their “401(k) plan run away like a car on a roller coaster.”
The answer, provided by international market researchers at Censuswide, should warm the hearts of owners of Palm Beach luxury properties. In the survey of more than 2,000 U.S.-based affluent individuals, four in five believed that “real estate is a safe investment.” The reasons could lie in recent history, since luxury single-family home prices “have seen 60% appreciation since 2017” while, at the same time, luxury attached home prices rose 41%.
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Those value advances might not be the only attraction. In addition to the financial motivation, the wealthy may be gravitating toward U.S. real estate that gives them “emotional or psychological stability in the face of rising uncertainty.” Help with securing those benefits was overwhelmingly sought by the well-heeled respondents. Nearly 90% of them called upon a real estate agent to assist with their purchases—and they “plan to do so again in the future.” If your own future security planning could involve the purchase or sale of one of Palm Beach’s luxury properties, I hope you’ll give me a call at (561) 316-6800.
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