Global Real Estate Brokerage Publishes 2023 International Real Estate Market and Luxury Consumer Spending Report, Offering a Glimpse into the Year Ahead
LOS ANGELES, Jan. 18, 2024 /PRNewswire-PRWeb/ -- Global real estate brokerage The Agency announces the launch of its fourth annual Red Paper, an international market and wealth report encompassing the most recent data, research and insights on the global real estate market, consumer spending and luxury market trends in 2023, along with projections for 2024. Centered around a chess theme, The Agency's Red Paper comprehensively explores real estate activity in the more than 100 markets the brokerage serves across the U.S., Canada, Mexico, Central America, the Caribbean, and Europe, diving deep into shifts in home-buying patterns, buyer demographics, home design, and more.
"Entering 2024, we find ourselves in the most unique real estate market in half a century. Visually, the market resembles that of a chessboard, unfolding with precision, where calculated moves shape the course of the game," said Mauricio Umansky, CEO and Founder of The Agency. "In crafting our annual Red Paper, the virtues of strength, strategy, and patience echoed across our global markets, which witnessed an overall decline in sales. With some relief expected in 2024 and more changes on the horizon, we are pleased to present a comprehensive retrospective of the past year and a look at what lies ahead."
Showcasing extensive data, graphs and insights spanning the global regions served by The Agency, The Red Paper presents a thorough research and analysis of last year's market activity, a housing and mortgage outlook, commentary on buyer trends and a special Wealth Report, with highlights including:
Navigating the Real Estate Chessboard: A Challenging & Persistent Game
An in-depth analysis of the mortgage and housing market forecast
Market Migration & Buyer Trends
The Agency conducted a global survey involving more than 2,000 agents to gain valuable insights into the preferences and movements of buyers and sellers, exploring their migration patterns and coveted features in a purchase
Gen-Z Has Entered the Real Estate Game
The first wave of Gen Z, a digitally native generation, has entered the realm of homeownership. With economic factors finding stability and Gen Z comprising a significant 20–25% of the population, the luxury real estate market is undergoing noteworthy shifts. This section provides insights into what you need to know about this savvy group of buyers and sellers
Consumer Spending: The Paradox of Resilient Luxury
How are luxury consumers actually spending their money? And why? From high-end timepieces to next-level home amenities, this in-depth wealth report dives into compelling data and interprets the motivations and meaning behind the behaviors of today's high-net-worth consumers
2023 Design Trends & What's Ahead in 2024
Leading themes, sentiments and interests agents and clients saw emerge in home interiors, amenities and design
"As we begin a new year, opportunity is plentiful. If there's one thing The Agency has always excelled at, it's rising to a challenge and seizing opportunities," said Rainy Hake Austin, President of The Agency. "2023 was a record year for growth as The Agency entered 29 new markets, including some of the world's most coveted destinations and thriving metropolises. Market shifts are the norm in real estate, and we continue to do what we do best: guide our clients through every twist and turn."
The Agency is a renowned brand that is featured on international television shows including "Million Dollar Listing Los Angeles," "The Real Housewives of Beverly Hills," and "Buying Beverly Hills," which debuted on Netflix in 2022 and recently announced its second season. The Agency is noted by The Financial Times as one of America's Fastest Growing Companies and has ranked among Inc. 5000's list of fastest-growing private companies in the country for six consecutive years. The Agency ranked 18th on the 2023 RealTrends 500 list, and ranked as the fifth-largest privately held independent brokerage in the nation by sales volume. In 2022, Inman named The Agency Luxury Brokerage of the year, and the firm was nominated for a second time in 2023. Most recently, The Agency's CEO and Founder, Mauricio Umansky ranked #50 on The Swanepoel Power 200's list of most powerful and influential people in real estate.
Read The Agency's Red Paper in its entirety here.
The Agency
The Agency is an agent-first, tech-driven boutique luxury global brokerage representing clients worldwide in a broad spectrum of classes, including residential, new development, resort real estate, luxury leasing and vacation rentals. Breaking away from the traditional brokerage model, The Agency takes a collaborative approach to the business, fostering a culture of partnership in which all clients and listings are represented in a collaborative environment. Agents and clients benefit from the shared resources and networks of the entire global team, including in-house creative, public relations and cutting-edge technology divisions. The Agency has closed more than $60 billion real estate transactions since 2011, comprising 100 offices in 11 countries, and counting, as one of the fastest-growing boutique, luxury real estate brands in the world. Watch The Agency on Buying Beverly Hills, a new real estate occu-soap highlighting the high-stakes world of luxury real estate in Los Angeles, currently streaming on Netflix.
Media Contact
Andrea Delgado, The Agency, 1 3059845220, andrea.delgado@theagencyre.com
SOURCE The Agency
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