For years, the coming wealth transfer sounded theoretical. Now it’s showing up in closing rooms, estate sales and sudden all-cash offers as younger buyers inherit property — and purchasing power — at unprecedented scale.
Coldwell Banker Real Estate released its Global Luxury 2026 Trend Report, finding that Generation X and millennials are expected to inherit an estimated $4.6 trillion in global real estate wealth over the next decade, with the U.S. projected to capture more than half of that transfer.
Findings show that 52% of the projected property wealth transfer will take place in the U.S. as assets shift from baby boomers to younger generations.
Gen X is expected to receive the largest share in the near term, while Millennials are projected to inherit the greatest portion over the longer horizon.
Based on three years of luxury home sales data and a survey of more than 100 Coldwell Banker specialists, the report concludes that younger, affluent buyers are redefining luxury real estate priorities — emphasizing lifestyle fit, long-term value and functionality over traditional status markers.
“The next generations are inheriting a historic amount of wealth and approaching luxury with intention,” said Michael Altneu, vice president of the Coldwell Banker Global Luxury program. “They are choosing homes that reflect their identity, support their day-to-day lifestyles and protect long-term financial value. For many, real estate has become a strategic piece of their wealth planning and a sanctuary for their well-being.”
Luxury market diverges from broader housing trends
As the wealth transfer accelerates, the report finds that luxury housing activity has started to separate from broader residential market conditions.
While higher interest rates and affordability pressures have slowed activity in some segments, affluent buyers continue to expand their real estate holdings.
Since 2020, global wealth among high-net-worth individuals has grown by nearly 40% — including a 29.4% increase in real estate holdings — reinforcing property’s role as a long-term store of value.
Nearly 80% of surveyed luxury agents described their local markets as “resilient,” citing stable pricing and consistent inventory turnover. In the U.S., luxury single-family home