What makes Boston a global ‘power market’ for luxury real estate
It’s not easy to stay up-to-date on the latest in luxury real estate. The true trajectory and intensity of trends in this specialized market can be obscured by noise in the data when sample sizes or time frames are too small. That’s according to the annual report put out by Coldwell Banker’s Global Luxury program, titled “The Report: State of Luxury 2019.” The authors of the report caution agents to avoid month-to-month comparisons and keep a long-term perspective.
Boston is one of the many cities identified as a “power market” in the report this year, a distinction that didn’t surprise Kathryn Alphas-Richlen. “Boston’s greater metro area is powered by a talented workforce, exceptional educational institutions and companies like Amazon, Biogen and Vertex who are at the forefront of research and development. These factors, coupled with our strong professional services industries in law, finance and consulting, welcome a diverse, affluent and international community,” said Alphas-Richlen, a global luxury specialist and sales agent with Coldwell Banker Residential Brokerage Weston. She noted the city attracts “buyers and sellers [who] seek access to cultural and urban lifestyles while placing a strong emphasis on their privacy.”
While the report singles out a number of trends driving …