Coldwell Banker Releases “The Report,” An Extensive Outlook on the 2022 Global Luxury Real Estate Market

From double-digit wealth and affluent population growth and the return of international buyers, “The Report” identifies the 2022 trends and opportunity markets transforming global luxury real estate

MADISON, N.J. (March 1, 2022) – Today, Coldwell Banker Real Estate LLC, a Realogy (NYSE: RLGY) brand, and the Coldwell Banker Global Luxury® program released “The Report: 2022 Global Luxury Market Insights,” an in-depth analysis of emerging worldwide luxury real estate market trends, market growth opportunities and global wealth.

Based on data from Wealth-X commissioned by Coldwell Banker Real Estate, the world’s affluent population – those with a net worth of $5 million and up – grew 19.8% in 2021, adding 597,550 individuals to bring the total population to 3,612,730 individuals worldwide. Their combined wealth rose 20.4% to over $75 trillion – a significant jump from 2020, which only saw a 2.1% year over year increase. Meanwhile, U.S. wealth growth rates were even higher in 2021, rising 24.8% in both total population and wealth during the same period, up from 8.1% in 2020.

This massive wealth growth and population jump of affluent individuals, combined with new living patterns and changing property preferences, led to a historic luxury real estate market expansion. In 2021, sales of luxury single-family homes, defined as the top 10% of any given market, rose 14.5% while prices increased 20.3% from 2020. Sales of attached luxury homes saw a more dramatic uptick of 29.6% year over year and a 16.6% increase in prices.

This year, The Report compiled insight from curated surveys of Coldwell Banker Global Luxury Property Specialists worldwide and data collected by the Institute for Luxury Home Marketing and Wealth-X to better understand the trends reshaping the luxury market domestically and abroad.

Key findings featured in The Report include:

The Return of the International Buyer

International interest in the U.S. real estate market may reignite as foreign investors take advantage of loosened travel restrictions and high returns. Approximately 83% of Coldwell Banker Global Luxury Property Specialists surveyed anticipate the return of international buyers to the U.S. market. Like American consumers, many continue to seek out turnkey properties with additional space and privacy and have also expressed interest owning in secondary or suburban areas. According to The Report, the U.S. states that attracted the greatest number of foreign homebuyers from April 2020 to March 2021 were California, Arizona, Texas, Florida and New Jersey.

Sustainable Living

New definitions of sustainability are taking the luxury market by storm. Millennial buyers are flocking to homes that incorporate personal and environmental wellness into the design. Homes with these features can command price premiums of 10% to 25%, sometimes higher. Concerns about natural disasters and extreme temperatures have filtered into buyer consciousness as more consumers recognize the threat of global warming. Green cities, like Portland, San Francisco and St. Paul, are attracting interest from those seeking out more eco-friendly locales. For this group, luxury is defined by functionality, environmental harmony and ease of use.

Luxury is Everywhere

38% of Coldwell Banker Global Luxury Property Specialists surveyed say that most buyers came from out-of-state in 2021. As the search for more space continues, secondary cities like Denver, Boise, Sacramento, San Antonio, Raleigh and Salt Lake City fared extremely well. Inventory levels for luxury single-family homes dropped, ranging from 19% to 36% year over year in these six markets, affecting the number of possible sales at the end of 2021. As a result, prices rose annually ranging from 19.9% to 37.5%. Urban cores are also making a comeback; Manhattan alone saw a 101.7% increase in luxury sales during 2021. Work from home opportunities, climate change considerations and accessibility to dream locations means luxury may continue to expand throughout the country as consumers search for the home that best fits their needs and desires.

The Opportunity Index 

The Opportunity Index, introduced for this year’s The Report, highlights 120 major U.S. luxury property markets according to their buying potential. These markets may still have room to grow in 2022, like hidden gem towns and undiscovered suburbs next door to affluent hotspots.

Using the 2021 national average year-over-year sold price growths for luxury homes as the baseline (24% for single-family properties and 16% for attached properties), each market was awarded a 100-point score. Any market with average prices below the set price baselines was determined to have room for price growth and therefore awarded a point per percentage decrease. This score was then added to the score for the national average inventory level decrease (a 20% drop became the baseline). A 100 point score was awarded to markets at the baseline of -20% and a point added to those with lower percentage scores – as they theoretically had more available inventory and potentially, more opportunity.

Coldwell Banker Global Luxury® identified the top five markets for single-family and attached homes based on the highest Opportunity Index scores:

Single-family home markets:

  • Staten Island, New York
  • Sussex County Coastal, Delaware
  • Cincinnati, Ohio
  • Charlottesville, Virginia
  • Napa County, California

Attached home markets:

  • Cincinnati, Ohio
  • Lake Norman, North Carolina
  • Marin County, California
  • Greater Seattle
  • Coastal Pinellas County, Florida

Rising Global Real Estate Footprint

Secondary home purchases are on the rise; approximately 70% of individuals with a net worth of $5 million and up now own two or more properties per Wealth-X, as reported in Coldwell Banker Global Luxury’s “A Look a Wealth” 2021 study. Coldwell Banker Global Luxury Property Specialists also reported that more affluent buyers were purchasing a getaway home — approximately 32%, up from 23% in 2020. Traditional lines between primary and secondary residences are blurring with many affluent individuals choosing to spend time in their secondary homes or deciding to purchase new properties to add to their growing real estate portfolios.

Data provided by Wealth-X in 21 major cities outside of the U.S. shed more light on the cities with the highest populations of wealthy individuals with a net worth of $5 million and up, primary vs. secondary homeowners and residential vs. real estate footprints in these locations. The five cities with the highest population of individuals with a net worth of $5 million and up in 2021 include:

  • Tokyo, Japan
  • Hong Kong, China
  • Paris, France
  • Osaka, Japan
  • London, United Kingdom

When looking at real estate footprint, which considers all properties owned by individuals with a net worth of $5 million and up, a different set of cities emerges as these locations attract wealthy individuals who have a propensity to buy both primary and secondary properties:

  • London, United Kingdom
  • Paris, France
  • Singapore
  • Geneva, Switzerland
  • Beijing, China

Click to Tweet: 2021 was a record-breaking year for luxury real estate – what does 2022 have in store? @ColdwellBanker’s “The Report” details key trends shaping the market worldwide.


“The Report sheds light on the extraordinary paradigm shift that has occurred within the luxury real estate sector since 2020. Stock market gains, rising home equity, increased savings and the cryptocurrency boom have all contributed to a massive expansion of wealth and the sheer number of affluent individuals across the globe. This – combined with a renewed focus on home for fulfilling a range of needs from security, escape, community, work and wellness – has led to unprecedented demand for bigger and better homes in new locations. As a result, luxury is no longer concentrated in a few major cities; it’s everywhere and we’ll continue to see the growth of secondary markets for years to come.”

  • Michael Altneu, Vice President, Coldwell Banker Global Luxury

“Double-digit wealth and affluent population gains have happened concurrently with a once-in-a-generation change in living patterns and migrations. As luxury real estate represents a larger percentage of the total housing market than ever before, it is absolutely crucial that luxury real estate professionals have a firm grasp of all factors influencing wealthy buyers and sellers today. The agent has become the affluent buyer’s connection point to new locations around the world. ”

  • Liz Gehringer, President of Coldwell Banker Affiliate Business and Chief Operating Officer, Coldwell Banker Real Estate LLC

“The Report looks beyond annual real estate statistics to offer a holistic view of global wealth and high-end property buying and selling, which is going to be crucial for agents navigating today’s evolving luxury real estate landscape. To meet the changing needs of affluent buyers and sellers, agents will need to employ a ‘surround sound’ strategy of being present in many facets of client’s life, from offering market research, extending the reach of philanthropic endeavors to creating a multi-generational partnership through family offices and wealth managers.”

  • Tim Foley, Executive Vice President of Operations, Coldwell Banker Realty

“The L.A. market is already starting to see the return of international buyers with many clients looking for second homes in beach cities such as Malibu and Santa Barbara.  Buyers continue to want turnkey properties that don’t need any work.  As the constraints to the supply of construction materials start to lessen, buyers will have more opportunity to purchase new construction.”

  • Jade Mills, President, Jade Mills Estates and International Ambassador of Coldwell Banker Global Luxury®

About The Report

Designed to be a definitive guide for international high-end property buying and selling, The Report adds insider intelligence to strong industry research by combining anecdotal insights from local Coldwell Banker Global Luxury Property Specialists affiliated with the Coldwell Banker® brand, as well as the Institute for Luxury Home Marketing, Wealth-X and other leading luxury and wealth insiders.


The Coldwell Banker Global Luxury® program collaborated with the Institute for Luxury Home Marketing, Wealth-X and other third-party data sources to analyze median list prices of sold properties, median sold prices, median sales-price-to-list-price ratios, median price-per-square foot, median days on market, as well as the highest list and sold prices for the top 10 percent of 120 U.S. luxury metros. The data for this report is based on closed and recorded sides of homes sold during 2020 and 2021; the statistical information has been calculated using closed sales activity reported over a 24-month period from December 1, 2019 to December 31, 2021, as gathered from multiple sources including but not limited to various Multiple Listing Services, local Real Estate Boards and the Coldwell Banker brand co-operating brokerage firms. Data is deemed reliable but not guaranteed for accuracy as it may not reflect all of the real estate activity in the area. To profile the affluent with a net worth of $5 million+ by population and wealth, Wealth-X uses its proprietary Wealth and Investable Assets Model. For more information on how data was collected and defined, please refer to the full methodology on pages 138-139 of The Report.

About Coldwell Banker Global Luxury®

The Coldwell Banker Global Luxury® program legacy traces its roots to 1933 and has been a world leader in luxury real estate since. Coldwell Banker Global Luxury Property Specialists are an exclusive group within the Coldwell Banker organization, making up under ten percent of independent sales associates affiliated with the brand worldwide. Coldwell Banker affiliated agents conducted 50,355 transactions of homes priced at $1 million or more in 2021. This equates to $267 million in luxury sales every day (+59% from 2020) with an average sales price of $1.9 million in this category. Coldwell Banker, the Coldwell Banker logo Coldwell Banker Global Luxury and the Coldwell Banker Global Luxury logo are registered marks owned by Coldwell Banker Real Estate LLC. Each franchise is independently owned and operated.

About Realogy Holdings Corp.

Realogy (NYSE: RLGY) is moving the real estate industry to what’s next. As the leading and most integrated provider of U.S. residential real estate services encompassing franchise, brokerage, relocation, and title and settlement businesses as well as a mortgage joint venture, Realogy supported approximately 1.5 million home transactions in 2021. The company’s diverse brand portfolio includes some of the most recognized names in real estate: Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby’s International Realty®. Using innovative technology, data and marketing products, high-quality lead generation programs, and best-in-class learning and support services, Realogy fuels the productivity of its approximately 196,700 independent sales agents in the U.S. and approximately 136,700 independent sales agents in 118 other countries and territories, helping them build stronger businesses and best serve today’s consumers. Recognized for ten consecutive years as one of the World’s Most Ethical Companies, Realogy has also been designated a Great Place to Work four years in a row, named one of LinkedIn’s 2021 Top Companies in the U.S., and honored on the Forbes list of World’s Best Employers 2021.

Senior Manager, Public Relations & Giving for Coldwell Banker. Grew up in Sarasota and attended college at Western Carolina University. Athena wanted to wake up in that city that doesn’t sleep so headed to Madison Avenue to start her marketing career. She has been with this awesome brand for more than 15 years and can be found generating buzz about CB in every way possible. Athena helps to grow the brand’s position as the most storied real estate company within the industry and has led many high-profile endeavors; she was at the forefront of the brand’s pioneering smart home campaign, raised $6 million in two years to build 130 Habitat for Humanity homes, and led the Homes for Dogs program in partnership with that resulted in tens-of-thousands of dogs finding their furever home. She currently leads the CB Supports St. Jude program, which encourages the Coldwell Banker network’s 96,000+ real estate agents to make donations to St. Jude’s Children’s Research Hospital for every real estate transaction they represent. In her spare time, you can find her either digging up a new area in her yard for another flower bed or planning her next travel adventure. She's the proud mom of three cats Jolene, Ziggy and Lucy.

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