Lifestyle Priorities Drive Global Luxury Real Estate and Wealth Migration, New Engel & Völkers Report Finds
Global Luxury Real Estate Trends Reflect Lifestyle Priorities
A new global report from Engel & Völkers suggests that quality of life—rather than sheer property size or financial return—is increasingly shaping how ultra-high-net-worth individuals (UHNWIs) invest, relocate, and plan their futures.
The Engel & Völkers Private Office Global Market Report 2026, released December 4, draws on insights from 160 Private Office advisors worldwide and incorporates wealth migration data from Henley & Partners. Together, the findings point to a shift in global capital flows driven by lifestyle, outdoor living, and long-term resilience.
Outdoor living overtakes home size
According to the report, “lifestyle improvement” now ranks as the top motivation behind cross-border luxury home purchases by UHNWIs, followed by downsizing and concerns around security, stability, and climate resilience.
More than half of Engel & Völkers’ Private Office experts—55 per cent—identified outdoor living as the most sought-after feature in luxury real estate, outweighing interior square footage. Privacy and safety ranked second, while cultural access and experiences followed.
“Buyers of luxury real estate are increasingly willing to trade property size in order to achieve more lifestyle-oriented goals,” said Stuart Siegel, Global Head of Engel & Völkers Private Office. He noted that access to nature, recreation, and exclusive locations is becoming central to how affluent buyers define elevated living.
Italy leads global luxury demand
Among international destinations, Italy recorded the strongest growth in international UHNWI enquiries over the past year, followed by France, the United Arab Emirates, Spain, Greece, and Switzerland.
“Italy’s ‘la dolce vita’ lifestyle resonates strongly with buyers seeking a slower, more community-oriented way of living,” Siegel said.
By contrast, Canada and the United States saw a modest decline in international demand, though the report notes that the U.S. remains Canada’s dominant buyer pipeline due to geographic proximity and shared cultural ties.
Pricing trends show resilience at the top
Across the global luxury segment—the top 10 per cent of property values—prices generally remained stable or increased over the past year. The strongest gains were recorded in Andorra, South Africa, and the UAE, while France, Canada, and Germany experienced slight declines.
Despite regional variations, Engel & Völkers said luxury real estate continues to function as both a lifestyle asset and a hedge against uncertainty.
“Real estate has become a strategic pillar of wealth preservation and global mobility,” said Jawed Barna, Group CEO of Engel & Völkers. “For UHNWIs worldwide, luxury homes increasingly serve as a lifestyle asset as well as a resilience tool.”
Outlook: lifestyle-driven migration to continue
Looking ahead, Engel & Völkers Private Office experts expect lifestyle considerations to remain a defining force in global wealth migration, particularly as geopolitical risk, climate concerns, and technological change reshape how and where the world’s wealthiest choose to live.
“In a world of growing risks and uncertainties, the desire to live well ultimately drives decisions when purchasing a luxury property,” Siegel said.
The full Engel & Völkers Private Office Global Market Report 2026, including country-level insights and wealth migration forecasts, is available for download through the company.
Source: Engel & Völkers Private Office Global Market Report 2026, with wealth migration data from Henley & Partners.
(Broad, search-aligned, and appropriate for a data-driven global market report.)
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