“We are working with Gen Z now. There is no age or boundary in luxury real estate anymore,” says Kirman. “The way that people make millions has changed, and social media and technology have opened up a whole new world of wealth that we’re seeing in Los Angeles.”
Several luxury markets in Europe are also beginning to see interest from Gen Z buyers, partially driven by favorable work visa programs and the well-documented Gen Z desire for remote work. Italy is one of these destinations, according to Alexander Benedetti, CEO of Benedetti Real Service, a Christie’s International Real Estate affiliate in Northern Italy, and Danilo Romolini, sales manager for Romolini Immobiliare Christie’s International Real Estate in Tuscany and a member of Gen Z himself.
“A discernible trend among our Gen Z clientele, predominantly comprised of HENRYs - High Earners, Not Rich Yet – and a substantial cohort of young entrepreneurs, is the intention of acquisition of secondary homes within our market,” says Benedetti. “And a noteworthy characteristic of this is often their status as ‘digital nomads.’”
“American Gen Z luxury buyers view Italy as an excellent location to work remotely. They enjoy Italian culture and cuisine and the relaxed lifestyle,” says Romolini.
