Rising Demand for Luxury Properties: Who’s Buying?
The luxury real estate market has historically been one of the most robust due to the high demand for the services it provides as well as the available high-end properties. During the pandemic, when the majority of businesses were experiencing a lack of customers and low revenue, the market‘s stability stood out in particular.
The proven stability of the market attracted investors and more interested buyers to consider purchasing luxury properties. To accommodate those who were forced to stay at home, a luxurious and functional home was necessary.
During the past year, experts have noticed that there is a trend of continuous rise in demand and purchase of luxury properties. But it also brought up questions such as what factors contributed to this increase in demand and who is buying luxury properties?
What Is Considered A Luxury Property?
As the demand for luxury properties continues to rise, one can’t help but ask what can be considered a luxury property?
Most associate high-end residential real estate with the size of the property. Even though this isn’t entirely incorrect, there are a lot of variables that go into determining whether a property is considered a luxury home. Brittany Corporation, the pioneer builder of luxurious homes in the Philippines redefines luxury real estate with its selection of exclusive communities.
The location of a real estate property can have a significant impact on its monetary value. For most interested home buyers, location is the first thing to consider when purchasing a house, especially for families with children.
In luxury real estate, prime location indicates that a property is in a location that is accessible and near essential establishments. When considering which home to purchase, it is also important that the location is near major road networks, making travel easier and more convenient for homeowners.
For homeowners, safety is of utmost importance. Just like the exclusive communities of Brittany Corporation, homebuyers should always look for a luxury property that has a great security system in place. Living in a safe and secure neighborhood elevates the luxury and peace that are offered by these exclusive communities.
When it comes to luxury real estate developments, the more amenities there are, the better A great home also means having a nice neighborhood where there are facilities for recreational activities allowing residents to leave a peaceful, relaxing, yet very entertaining everyday life.
Grand Architectural Style
Of course, when it comes to luxury homes, the architectural style is among the most important factors that should be considered. There are different types of popular architectural styles in the Philippines. For those who enjoy a luxurious lifestyle, a distinct architectural style and interior design are preferred for their luxury home.
Modern Home Features
When it comes to luxury housing, the exterior is not the only important factor. The elegance of the interior design and modernity of the home features should also be considered. The affluent clients of Brittany Corporation enjoy the luxury of convenience with modern home features that certainly make everyday life easier and more enjoyable.
Rise in Demand: Who’s Buying?
In the midst of the pandemic, the luxury property market remained afloat even as businesses were suffering from the decline of the economy. This proves that the market for luxury real estate is stable and has various investment benefits.
The demand for luxury residential properties is rising, especially after two years after the pandemic. The question that many have in their mind is, who’s buying? It is noteworthy that in 2021, as the economy began to recover from the effects of the pandemic, many rich clients bought luxury real estate.
The main pillar of the market’s stability for high-end properties is the target market, rich clients who have a taste for luxury products. When it comes to the affluent clients of prominent property developers, their reason for purchase is not born out of need. Rather, it is due to their preferences and lifestyle.
However, while they have kept the demand for luxury residential properties stable, the rising demand that is observed today can be contributed to the effects of the pandemic. Most have realized the importance of living in a peaceful, relaxing home where the residents are able to enjoy a mundane day-to-day life. This drove many families and individuals to consider purchasing a luxury property.
The demographic for interested wealthy buyers have also expanded. It is not only parents and rich clients who are buying luxury homes. Even younger generations and working individuals with high net worth have considered buying a luxury home.
Key Contributors to the Rising Demand for Luxury Properties
The stability of the luxury real estate market, for luxury homes and luxury condos, is indeed a very attractive factor that may have a large contribution to the rising demand. However, there are other elements at play. Many business owners have been negatively affected by the pandemic, but it has also served as a catalyst to highlight the benefits of living, owning, and investing in a luxury property. Below are the key contributors to the rising demand for high-end real estate.
Long-Term Investment Benefits
Investing in luxury real estate properties has many long-term benefits. Since the market is stable, there is little risk of loss. It is also more ideal to invest in physical assets such as luxury properties rather than in stocks or bonds where price may fluctuate over time. Physical assets tend to gain value over time, a trend in the market called value appreciation, and there is earned interest over the capital as well.
Moreover, investing in luxury homes offers more control since there is the freedom to choose what type of physical asset to purchase or invest in and how to control its use. For example, some investors may find it better to purchase a condo and rent it out. When the pandemic affected the economy and the market for luxury properties remained stable, there have been little loss observed, which attracted many investors.
Acquired Taste for Luxury Properties
Since the pandemic has forced everyone to stay at home, most families have acquired a taste for luxury properties. Today, it is not enough to live in a safe neighborhood and a well-built house. Living in a beautiful home with refined architecture and interior design can improve the quality of everyday life, especially for families with children.
Living in a small space with multiple family members can be suffocating at times. With enough room for everyone to spread out, daily life can be greatly improved. In addition, specific areas can be reserved, such as offices and playrooms.
Increasing Interest from Younger Generations
Today, the demographic for interested buyers of prestigious properties has widened. It is not only families or individuals who are looking for luxury homes. Even the younger generation such as Millenials and Gen Z are interested in purchasing a luxury property, especially condos.
There has been an improvement in the work ethics of the workforce today. It is as important to work as it is to enjoy one’s private life indulging in the luxuries of life. As such, owning and living in their dream home is one of the first things that they strive to achieve. Moreover, the younger generation has a great appreciation for artistic design, which are often used for luxury housing.
Pioneer Builder of Luxury Properties
Brittany Corporation is the pioneer builder of extravagant properties in the Country. They have a proven track record of developing exclusive communities with a thematic appeal. As a goal, they aim to build the dream luxury homes and luxury condos for the rich clients who have a taste for a luxurious lifestyle. Their elite team of sellers, Brittany Salesforce, provides exemplary service and helps their clients find their dream homes.
Prime Locations for Luxury Home Buyers
For interested buyers of luxury properties, location is one of the most important factors to consider. Proximity to essential establishments and accessibility to major road networks are great advantages. Brittany Corporation built and developed exclusive communities in prime locations that provide a space for peace and relaxation.
Luxury Real Estate Portofino in Alabang
Portofino in Alabang offers an Italian-inspired community for the residents where the homes in the exclusive community are built and designed with a Mediterranean influence. More than the thematic appeal of the place, its proximity to the metro is a great advantage for the residents.
Luxury Homes at Brittany Sta. Rosa
Enjoy a peaceful life in Brittany Sta. Rosa is where the American and Old English-inspired communities can be found. Surrounded by nature, this exclusive community is the perfect place for families who have children. There are world-class amenities that can be used by residents.
Luxury Living at Crosswinds Tagaytay
Crosswinds Tagaytay is inspired by the relaxing atmosphere of Swiss resorts. It provides an escape for residents who wants a condo lifestyle or wants to live in condos that offer magnificent views of surrounding vibrant greenery.
Brittany living is all about creating a space that promotes peace, relaxation, and luxury. Experience it with Brittany Corporation’s exclusive communities.