Bibliography
In addition to internal market data from the Sotheby’s International Realty brand and its affiliates, this report cites the following data sources and articles:
Welcome
1. “Outperforming” claim based on Sotheby’s International Realty’s 2025 performance versus Sotheby’s International Realty’s 2024 performance, which resulted in an 9.3% increase, more than triple the National Association of REALTORS® reported overall market growth of 2.6%
2. “Three Reasons Now Is an Opportune Time To Invest in Longevity,” UBS Global Wealth Management, March 28, 2025
Surprising Strength
1. “Outperforming” claim based on Sotheby’s International Realty’s 2025 performance versus Sotheby’s International Realty’s 2024 performance, which resulted in an 9.3% increase, more than triple the National Association of REALTORS® reported overall market growth of 2.6%
2. “Five Wall Street Investors Explain How They’re Approaching the Coming Year,” The Wall Street Journal, January 1, 2026
3. “Net Worth Held by the Top 1% (99th to 100th Wealth Percentiles),” Federal Reserve Bank of St. Louis, January 16, 2026
4. “An Act To Provide for Reconciliation Pursuant to Title II of H. Con. Res. 14.,” U.S. Congress, July 4, 2025
5. “Topic No. 701, Sale of Your Home,” IRS, 4 December, 2025
6. “Architect John Portman’s Iconic Georgia Home Fetches a Record $30 Million,” Robb Report, December 10, 2025
7. “HGTV Co-Founder Lists Home on Georgia’s Sea Island for $42 Million,” The Wall Street Journal, April 15, 2026
8. “World Ultra Wealth Report 2025,” Altrata, September 2025
9. “Global Wealth Report 2025,” UBS, June 2025
10. “The Trump Gold Card Is Here,” Trumpcard.gov
11. “Trump Claims Over $1 Billion in Immigration ‘Gold Cards’ Have Been Sold,” Scripps News, December 19, 2025
12. “What’s New—Estate and Gift Tax,” IRS, January 13, 2026
13. “Wealthy Travelers Are Splurging on Luxury Hotels Like Never Before,” The Wall Street Journal, November 11, 2025
Aging Millionaire Boom
1. “Global Life Expectancy at Birth From 1950 to 2023, With Projections Until 2100,” Statista, November 28, 2025
2. “Three Reasons Now Is an Opportune Time To Invest in Longevity,” UBS Global Wealth Management, March 28, 2025
3. “2025 Global Wellness Economy Monitor,” Global Wellness Institute, November 2025
4. “The Secrets of Long Life,” National Geographic, November 2005
5. “Blue Zones: Lessons From the World’s Longest Lived,” American Journal of Lifestyle Medicine, July 7, 2016
6. “Three Reasons Now Is an Opportune Time To Invest in Longevity,” UBS Global Wealth Management, March 28, 2025
Resilient Cities
1. “World Urbanization Prospects 2025,” United Nations, November 18, 2025
2. “Global Cities Index 2025: Exploring the Strengths and Weaknesses of the World’s 1,000 Largest Urban Economies,” Oxford Economics, May 2025
3. “Global Cities Resilience Index: Measuring the Systemic Readiness of Urban Areas,” Kearney, October 2025
4. “Market Report Manhattan: Q1 2026,” Sotheby’s International Realty, Downtown Manhattan Brokerage and East Side Manhattan Brokerage, April 2026
5. “Manhattan Apartment Prices Reached $1.15 Million Mark in 2015, Reports Say,” The New York Times, January 5, 2016
6. “Market Report Manhattan: Q1 2026,” Sotheby’s International Realty, Downtown Manhattan Brokerage and East Side Manhattan Brokerage, April 2026
7. “Governor Hochul Announces Pied-à-Terre Tax Proposal for Luxury Second Homes Valued at $5 Million or More,” Office of the Governor of New York State, April 16, 2026
8. “Real Property Transfer Tax and Measure ULA FAQ,” Los Angeles Office of Finance
9. “It’s Been One Year Since Wildfires Devastated Los Angeles. What Have We Learned?,” Columbia Climate School, January 12, 2026
10. “March Home Sales and Price Report,” California Association of Realtors, April 21, 2026
11. “California Is Now the 4th Largest Economy in the World,” Governor Gavin Newsom, April 23, 2025
12. “From Expo to the Olympics, Milan Bets on Big Events To Fuel Its Transformation to a Global City,” AP News, February 24, 2026
13. “What Is Investor Visa for Italy?” Ministry of Enterprises and Made in Italy, September 14, 2018
14. “The World’s Wealthiest Cities in 2025,” Henley & Partners, April 8, 2025
15. “Hong Kong Home Prices Post First Annual Gain Since 2021,” Reuters, January 28, 2026
16. “Capital Investment Entrant Scheme,” Immigration Department of the Hong Kong Special Administrative Region, November 19, 2025
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