Wellness and aging-in-place drive luxury demand according to Sotheby's International report
A fundamental shift is underway in how ultra-high-net-worth buyers approach real estate.
Sotheby's International Realty published its 2026 Mid-Year Luxury Outlook report on Monday, drawing on survey data from agents working exclusively in the $10 million-and-above segment globally.
The headline finding is that longevity has become a primary organizing principle for purchase decisions at the top end, with health-centered design and wellness infrastructure now cited as growing factors by nearly 38% of professionals in that price category.
The question wealthy buyers are increasingly asking is not just where they want to live, but how a property supports the way they intend to age.
"The global luxury real estate market continues to endure, even as the forces shaping it evolve. Longevity is increasingly driving that interest too,” said Philip White, president and CEO of Sotheby's International Realty. “It's no longer just where folks want to live, but how they want to live as they age. What we are seeing in the industry is not a short-term change, but a sustained shift in how global wealth is stored, transferred, and expressed through property. It underscores a simple reality: while motivations are changing, prime real estate can be one of the most trusted ways people preserve and express wealth."
The wealth context underpinning that demand is significant. Federal Reserve data shows the net worth of the top 1% of Americans reached $54 trillion by the third quarter of 2025, while the S&P 500 rose approximately 80% between early 2023 and 2025.
Nearly 40% of the world's millionaires now reside in the US, with researchers projecting five million additional millionaires globally by 2029. More than half of agents surveyed in the $10 million-and-above tier reported an increase in luxury homebuyers over the past year, with average price appreciation of 5%.
According to UBS Global Wealth Management data cited in the report, the global longevity market is projected to expand from $5.3 trillion in 2023 to $8 trillion by 2030.
Wellness real estate, which has more than doubled in size over five years, is projected to surpass $1.1 trillion by 2029. Lifestyle ranked as the most important purchase driver among surveyed agents at 62%, outranking taxes at 60%, economic stability at 53%, and political stability at 49%.
Millennial buyers are also reshaping the top end. Some 66% of agents reported an increase in that cohort at the luxury level, rising to 73% among those in the $5 million-and-above segment, driven by earned wealth and accelerating intergenerational transfers.
