Luxury real estate trends can vary depending on location and market conditions. With the increasing demand for luxury real estate in the country, new trends are always being integrated to make properties stand out. Some common trends we have seen in 2022 and gaining popularity in recent years include:
Sustainability and eco-friendliness:
Many high-end home buyers are looking for properties that are energy-efficient, have sustainable features, and are built with environmentally-friendly materials. In a rapidly urbanising world, the real estate industry lies at the centre of an unprecedented level of growth and activity.
Smart home technology:
Luxury homes often have the latest in smart home technology, such as automated lighting and temperature control, security systems, and entertainment systems that can be controlled through a smartphone or tablet. Imagine sitting down and being able to dim or switch of the lights on your phone. Or waking up in the morning and drawing the curtain on your tablet on a lazy Sunday. Well all this is all possible, thanks to IoT. You can even link your smart TV to your smart fridge and your smart phone. And with AI becoming increasingly popular, this can only get better.
Outdoor living spaces:
Many luxury buyers are looking for properties with ample outdoor space, such as pools, outdoor kitchens, and covered patios or verandas. Places where they can chill, read a book and enjoy the fresh air or invite guests over and have a barbecue.
Health and wellness amenities:
Luxury properties may feature amenities such as gyms, saunas, and spa facilities, as well as access to recreational activities like golf and tennis. Luxury residential developers have taken notice, incorporating lifestyle-focused amenities like high-end in-house spas, rooftop fitness, massive green spaces and even rooftop dog parks. With such places being closed during the pandemic, developers are integrating these features right into their properties so that tenants can get to enjoy them conveniently
Privacy and security:
Luxury buyers often prioritize privacy and security, and may look for properties with gated entrances, security systems, and other features to protect their privacy. According to a recent survey of the world’s wealthiest people by real estate company Luxury Portfolio International, one of the most often sought after features in real estate is privacy.
High-end buyers may be attracted to luxury properties with unique features such as waterfalls, wine cellars, or home theaters.
It’s important to note that these are just a few examples of luxury real estate trends, and the specific features that buyers are looking for can vary significantly depending on location and individual preferences.
We look forward to fulfilling your real estate dreams in 2023