Read:
Phillip A. White, president and chief executive officer of Sotheby’s International Realty Affiliates LLC, talks real estate in his latest interview with Lucy Cohen Blatter from Mansion Global. The 36-year real estate industry veteran shares his insight on emerging luxury real estate trends, millenials’ tastes, and more.
Next Hub: Luxury Properties
The real estate expert revealed that Sotheby’s International Realty is expanding into emerging markets of Western and Eastern Europe, Dubai, Australia, and Argentina. Consequently, new offices are opening in Abu Dhabi, Helsinki, Finland, Netherlands, Queensland, and Buenos Aires.
The Market: Millenials
As a result, millenials are opting to stay in big cities, particularly near town squares. Philip White establishes that this generation seeks to live “near activity.” This goes along with an inclination to contemporary art and design.
Real Estate Trends: Searches
Mr. White offered some great news when asked where are the best luxury homes in the world: potential buyers are searching for private islands and tropical destinations.
Well, we’ve noticed that searches for private island homes are up 225% year over year. And searches for international locations like the Bahamas and the Dominican Republic have more than doubled, so have searches for islands like Anguilla, St. Lucia and Mauritius, specifically.
VIEW SALINA'S PRIVATE ISLAND
Most Valuable Amenity in a Home
According to “what is trending?”, Mr. White stated that “smart” and green homes are in great demand. He added that wellness elements were also sought after, and that in-house spas are a valuable amenity for some people.
New Development or Prime Resale?
Philip White expressed to the publication that he sees value in both new and established properties. The added value comes with customization and great locations.
Real Estate Advice
Ultimately, when Mansion Global asked Mr. White on what is his best piece of real estate advice, he responded:
Buy a home. There are tax advantages if you take out a mortgage, and it’s the best way to build equity. Also, buy a home that feels like a sanctuary. People work hard, and they need to come home to a place where they can relax.
Learn more about Philip White’s definition of luxury, his favorite part of his home, and more. Read the full article here.
Follow @@puertoricosir
Follow Puerto Rico Sotheby’s International Realty:
Facebook | Twitter | Pinterest | Instagram | Google+ | LinkedIn | Youtube
VIEW PUERTO RICO PROPERTIES
Market Update: Philip White talks Real Estate Trends originally appeared on Puerto Rico Sotheby's International Realty Blog Blog › Puerto Rico Sotheby's International Realty.