We recently conducted a survey of 3,000 people, posing a hypothetical question:
If you won a lottery jackpot, what kind of property would you invest in?
The fascinating results are illustrated below.
Key Findings:
Resort-Style Villas in Hawaii Tops the List: The Big Island of Hawaii, known for its resort-style villas in elite communities like Hualalai and Mauna Kea, is the most coveted destination for lottery winners.
Urban Luxury in Honolulu, Hawaii: Penthouses in Honolulu rank second, offering a blend of cosmopolitan lifestyle and luxury amenities with spectacular views.
Malibu, California Beachfront Homes: Malibu’s beachfront homes, famous for their sea views and luxurious facilities, are the third preferred choice.
Historic Charm in Coral Gables, Florida: Coral Gables is celebrated for its historic homes with Mediterranean Revival architecture.
Diverse Coastal Preferences: Locations such as Hilton Head Island, South Carolina, and the Florida Keys are popular for their oceanfront estates and tranquil coastal living.
Inland Luxury in Tennessee and Georgia: Lakefront mansions on Tennessee’s lakeshores and beachfront homes on St. Simons Island, Georgia, show a preference for serene inland luxury.
Historic Homes in Asheville, North Carolina: Asheville is sought-after for its historic homes and proximity to landmarks like the Biltmore Estate.
Mountain Retreats in Lake Tahoe, California: Lake Tahoe’s luxury lakefront estates provide private access to the lake against a mountainous backdrop.
Implications of the Study:
Reflection of Lifestyle Aspirations: The choices reflect a broader aspiration among lottery winners (and by extension, the public) for transformative lifestyles, combining luxury, comfort, and unique experiences.
Shift in Luxury Real Estate Trends: The study highlights a diversifying trend in luxury real estate, where affluent individuals are exploring beyond traditional metropolitan luxuries to more serene, natural settings.
Growing Interest in Resort-Style Living: There’s a noticeable preference for resort-style living, emphasizing a blend of luxury and relaxation in exclusive communities.
Urban Luxury Still in Demand: Despite the lean towards natural settings, urban penthouses in cities like Honolulu indicate enduring appeal for city living among the wealthy.
Historical and Cultural Value in Real Estate: The preference for historic homes in Coral Gables and Asheville suggests a desire among new lottery winners for properties with cultural and architectural significance.
Regional Variety in Luxury Preferences: The study shows diverse regional preferences, from the beaches of Florida and South Carolina to the lakeshores of Tennessee, indicating a broad spectrum of what constitutes luxury across the United States.
Methodology
Online panel survey of 3,000 adults based on age, gender, and geography. Internal data sources are used to obtain population data sets. We used a two-step process to ensure representativeness through stratified sampling and post-stratification weighting.
Respondents are carefully chosen from a geographically representative online panel of double opt-in members. This selection is further tailored to meet the precise criteria required for each unique survey. Throughout the survey, we design questions to carefully screen and authenticate respondents, guaranteeing the alignment of the survey with the ideal participants.
To ensure the integrity of our data collection, we employ an array of data quality methods. Alongside conventional measures like digital fingerprinting, bot checks, geo-verification, and speeding detection, etc. each response undergoes a thorough review by a dedicated team member to ensure quality and contextual accuracy. Our commitment extends to open-ended responses, subjecting them to scrutiny for gibberish answers and plagiarism detection.
