Kiss the Baby Boomers Good-Bye!

It’s the time for under-40 buyers who are now fueling the luxury second-home market, according to the latest research from Luxury Portfolio International, the marketing division for Leading Real Estate Companies of the world.

It’s a bright spot for sellers, with affluent buyers displaying confidence in resort markets. The study also reveals that 40 percent of the wealthy respondents come from the Asia-Pacific region, motivated by last summer’s mega film hit, Crazy Rich Asians.

At this point, the younger crowd accounts for almost half o the interested buyers and at least half of those looking. Of that younger luxury affluent buyers, 71 percent have children under 18.

And they are not looking for what their dads and moms looked for. Now it’s all about wellness and amenities such as rooftop meditation, yoga studios, soundproofing and sophisticated food and wines.

No wonder first-class resorts like Montage, Ritz-Carlton, Four Seasons, One & Only, Hilton and more are upgrading their resorts worldwide.