Super-wealthy driving force behind luxury real estate

'After years of crisis, balance between demand and supply'

(ANSA) - Florence, February 19 - "The number of super-wealthy continue to increase while that of the mid-level wealthy drop, having lost economic power over the past few years," said Dimitri Corti, founder of Lionard Luxury Real Estate, a company operating in the most expensive segment of the real estate market of luxury residences. "Luxury real estate is doing well," Corti said, "after years of crisis it is reaching a good balance between demand and supply. Maturity is being shown by sellers, who understand that what may have cost 10 million euros can be sold for 7, as well as by buyers who understand that this is an opportunity to seize while they have the chance." Ultra high net worth individuals (UHNWI), super-wealthy people holding assets worth over 100 million dollars, and those who want to buy properties worth over 30 million seem to be the driving force behind the most exclusive segment of the market.
    "They are able to decide on an important purchase in a single day," Corti stressed. "They engage in impulsive choices especially as concerns very expensive purchases and we at Lionard are very good at this, we want to get them excited" about luxury real estate options. In 2017, the Florentine company achieved 8.7 million euros in turnover, tripling the 2016 figure with an outlook to grow even more in 2018. After the opening of a new office in Mila, Lionard Luxury Real Estate is now looking to open one in Rome and 12 others in the next five years, with Cortina, Porto Cervo and Lago di Colo among the options currently under discussion.


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