All Millennials live in their parents’ basements and eat avocado toast, right? If you could see the basements these Millennials have, you might consider living in their basements instead.
Meet the New Aristocracy, the name Luxury Portfolio International (LPI) has given to this group of high-net-worth consumers ages 25 to 49. They’re the next generation of ultra-wealthy individuals, and as more of them are marrying, having children and coming into their inherited and earned wealth, they are ready to spend big bucks on their homes. In fact, LPI predicted this group will be “larger in number and greater in economic power than the wealthy in the gilded age of the Rockefellers.”
Clearly, this is not your average group of Millennials and Gen Xers. Take a peek at LPI’s 2018 report on the New Aristocracy, who they are and what they want in their spaces.
Top Overall Deemed "Essential" Next Home Features
When it comes to home amenities, these ultra-wealthy consumers love to entertain, but they want to keep their commercial-grade kitchens looking nice, hence the need for the butlers pantry and separate catering kitchen. Having formal spaces in the home remains popular with this group.
*All data courtesy of LPI’s The Rise of the New Aristocracy