The next generation of luxury home buyers is turning views into purchases, thanks to this latest real-estate trend.
This trend is emerging during a time of economic slowdown in the US real-estate market, with an expected decrease of 6.5 percent in new-property sales and a predicted 13.1 percent drop in existing-home sales in 2023, according to Wells Fargo. This doesn’t appear to be deterring housing chatter on TikTok, though: If you search #property on the app, you’ll find the hashtag has garnered 3 billion views. Not to be outdone, #luxuryhomes has drawn a whooping 3.3 billion views.
Realtors say a combination of aspiration and escapism is pushing users to seek luxury-home content. But it’s not just fantasied fun. If the TikToks manage to go viral or find the right audience, agents are seeing the videos attract young, interested buyers more and more, who then look into purchasing the home.
“Luxury property tours are interesting to people either because they want to virtually look through the windows of a place or because they’re in the minority who would maybe buy it,” Toronto-based agent Andres Rivadeneira told Fortune. “I get a lot of calls about my properties from people living in high-value markets like London, New York, or Australia.
Although Facebook remains the top source in driving traffic toward property listings, followed by Instagram, TikTok’s ability to reach a wider global audience offers realtors more opportunities to expand their audiences. The app also attracts a growing consumer base that are willing to turn their views into sales. According to, 37 percent of TikTok users have a disposable income of over $100,000 and were estimated to be spending about $500 million per quarter through the app, equaling $1.
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