- The Knight Frank Global Branded Residences Report 2023 confirms a market enjoying sustained growth despite significant recent economic turmoil.
- Market fundamentals support 55% growth in global branded residences up to 2026.
- Future demand for second homes, including branded residences, is expected to be driven by rising affluence, increased mobility, and the desire of wealthy investors to expand their residential property portfolios.
- The pandemic boosted residential property demand from UHNWIs, with around 17% purchasing a new primary or second home in 2022. Despite higher interest rates, there remains healthy underlying demand with 15% of UHNWIs considering a purchase in 2023.
- Global sales of prime and super-prime properties have rebounded and key hub markets such as the US, UK, Australia, Spain, and France are favoured destinations for second home purchases.
