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Wednesday, July 22nd, 2015

Characteristics that define a luxury real estate property in 2015 – part 2

A luxury property means privacyIn our previous article, we began to list the characteristics necessary to define the current features of a luxury property. To the market price, quality of the property and privileged location, we can add the following:

A feature of a luxury property is privacy: far from the ostentation of times gone by, buyers of a luxury property desire intimacy. The unique property is converted into a peaceful haven, far from prying eyes.

A feature of a luxury property is security: The buyer of an exclusive home wants security for themselves and their family. For example: executives and entrepreneurs that travel frequently prefer to place their family in luxury villas located in closed residential areas with round the clock security, near to international schools where their children can study.

A feature of a luxury property is exclusive characteristics: The more of which, the better the property. A sauna and spa, indoor pool, outdoor heated pool, wine cellar, home cinema, built-in home automation, an independent guest house/apartment, etc. They are highly valued additions to buyers and occasionally have a key influence in the sale of the property.

A luxury property means exclusive characteristicsA feature of a luxury property is additional services: Many exclusive-property buyers join the desire for intimacy with the need to be situated near hospitals, golf courses, marinas, education facilities or commercial districts. The proximity of these services complements the uniqueness of the property.

A feature of a luxury property is sustainability: Buyers are increasingly putting importance on the sustainability of the property. The criteria regarding the energy efficiency of the property has its own weight on the final decision.

A feature of a luxury property is an appeal across all ages: The numbers of regular buyers of exclusive properties, who have traditionally sat within an age group of 45 to 60 years, has now been joined by a new group of entrepreneurs from 35 to 45 years old, that are economically well positioned thanks to the investment into new technologies and other sectors of business, who are able to gain access to exclusive properties, generally situated in city centres as they share the same interest of an urban lifestyle.

A feature of a luxury property is an emotional experience: While it is true that a certain number of buyers look for exclusive properties to purchase in terms of future profitability or a return of investment, in the majority of cases the acquisition of a luxury home is one of the most important life decisions for the buyer for various motives: it comes around only once or twice in a lifetime, it involves putting in an important sum of money (occasionally lifetime savings) and directly includes their family. Therefore the purchase of the property means much more than just a commercial and rational decision. You put your hopes and your aspirations into it.

A luxury property is means family settingA feature of a luxury property is a family setting: As we have noted in the previous point, the idea of family has a huge importance (bigger and bigger) on the decisions regarding the purchase of a luxury property, derived from the changes in society and life habits. The property must bring together spaces for the smallest of children, as well as the older generations. It must unite communal spaces suitable for various uses with rooms that provide privacy necessary for the owners. The interior space must adequately answer daily needs in an intelligent way with the aim of enriching family life.

If you wish to read the first part of the article click Characteristics that define a luxury real estate property in 2015.

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