Page 14 - Reside Magazine Briggs Freeman

Up Front

LUXURY

Market Momentum Demand for high-end goods and real Not so long ago, reports from San

estate might not run in tandem, but they Francisco, California, detailed the flight of
Why San Francisco is re-emerging are both good indicators of emerging or retailers from its downtown area. Today,
as a center for high-end living improving luxury markets. The shift toward previously vacant stores are being occupied
“experiential luxury,” in particular, is an by brands that cater to the ultrawealthy,
evolving consumer trait that has become transforming Union Square into a premier
prominent in real estate, particularly at destination where shopping by appointment
premium price points. and prime European retailers are the norm,
“What’s driving today’s high-end market according to a February 2025 report from
is the feeling a home delivers as much as real estate data company CoStar.
its address,” says Tammy Fahmi, senior vice It’s not just high-end retailers that have
president of global servicing and strategy their sights on the city. An April 2025 report
at Sotheby’s International Realty. “What from Bloomberg shows growing interest
we’re witnessing in luxury real estate isn’t and purchases of commercial properties
just a trend—it’s a fundamental redefinition from a range of big names, including
of value. This experiential revolution Golden State Warriors star Stephen Curry,
transcends cultural boundaries, with buyers Google’s Sergey Brin and well-capitalized
willing to pay substantial premiums for investment groups. On the residential side,
properties that offer exceptional features agents are seeing a rise in demand for
that reflect their lifestyles.” ultra-high-end properties.