The 2023-2028 World Outlook for Luxury Homes

The 2023-2028 World Outlook for Luxury Homes

This study covers the world outlook for luxury homes across more than 190 countries. For each year reported, estimates are given for the latent demand, or potential industry earnings (P.I.E.), for the country in question (in millions of U.S. dollars), the percent share the country is of the region, and of the globe. These comparative benchmarks allow the reader to quickly gauge a country vis-à-vis others. Using econometric models which project fundamental economic dynamics within each country and across countries, latent demand estimates are created. This report does not discuss the specific players in the market serving the latent demand, nor specific details at the product level. The study also does not consider short-term cyclicalities that might affect realized sales. The study, therefore, is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved.

This study covers luxury homes as defined by the North American Industrial Classification system or NAICS (pronounced "nakes").

The NAICS code for luxury homes is 3399423. It is for this definition that aggregate latent demand estimates are derived. Luxury homes is specifically defined as follows:

3399423 Artists' equipment

33994231 Artists’ equipment, including airbrushes, children’s school art equipment, drawing tables and boards, palettes, sketch boxes, pantographs, and pyrography goods (excluding artists’ brushes)

33994232 Other art materials, including artists’ chalk and crayons, modeling clay and other modeling material, tempera colors, fingerpaint, block printing ink, and watercolors (excluding drawing and India ink)

3399423101 Artists’ equipment, including airbrushes, children’s school art equipment, drawing tables and boards, palettes, sketch boxes, pantographs, and pyrography goods (excluding artists’ brushes)

3399423206 Other art materials, including artists’ chalk and crayons, modeling clay and other modeling material, tempera colors, fingerpaint, block printing ink, and watercolors (excluding drawing and India ink)