Luxury Portfolio International has identified an emerging group of affluent homebuyers who, it believes, will be “powering” the luxury real estate industry in the next three years, it finds in its 2018 report: “The Rise of the New Aristocracy.” The ‘new aristocracy’ The “new aristocracy” are, on average, age 37; they are married, have young families and have inherited wealth or expect to, said the research conducted by YouGov on Luxury Portfolio’s behalf. They are the consumer to watch, rather than their 50-plus aged counterparts (“luxury loyalists”) when it comes to homebuying, said Luxury Porfolio Executive Vice President, Stephanie Anton from the Leading Real Estate Companies of the World annual conference held in Las Vegas. For these future homebuyers ranging from 25 to 49, the economic future looks bright — six out of 10 expect an inheritance of $1 million or more, and their current investable assets average $4.7 million, the research found. The new aristocracy are…
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