Despite the country’s economic conditions and high inflation rates, one thing that does not change is the demand for luxury properties. And why not? A luxury property can come in different forms, such asmansions, luxury condominiums, and vacation homes. These are always desired by the rich and the established sections of the society like successful business owners, top-rank corporate personnel, and traditionally rich families, among others.
A lush green landscape of grassy and mossy grounds, rocky pathways, and trees that bring about a sense of harmony between the house and nature.
You might be wondering what it is about that makes the affluent people buy these luxury properties – is it the comfort or the luxury of these properties?
As most people say, luxury properties do have a characteristic common among them, and that is the quality of their features and amenities. These are typically custom-fit to provide the affluent homeowner with the best in security, comfort, and entertainment.
Here are the top reasons why people buy luxury properties and what they look for in luxury real estate. Read on!
What should I look for in a luxury property?
High security is essential for a luxury property
One of the main reasons why people invest in luxury properties is privacy and security. It can be the state-of-the-art security systems, the trained security personnel outside the building, or other types of installations. The high-end market would always prefer a home that has a high level of security for them and their family.
Smart home devices improve home living quality and security with a touch of a finger.
A matter of pride and status
Most of the affluent market would like to buy a luxurious property mainly because it gives them a sense of pride and high status. They want to show the world that they are living and experiencing the best lifestyle.
Money is not an issue and what better way of spending it than buying that luxurious home on which everybody has an eye? They want a property that would best represent their rich lifestyle rather than just a postal address which is very conventional and mainstream.
The truest sense of comfort
Luxury properties these days are more than just a place to dwell. It’s a total package of many features that leads to a luxurious lifestyle. Think about the swimming pools, gyms, meditation centers, manicured lawns, basketball courts, mini-office, which are just some of the unique features on the list. All these provide for a comfortable and fun-filled place to live in.
The best luxury property is the best investment
High Net-worth Individuals consider luxury homes as a great investment opportunity. The most important reason behind this idea is that luxury homes are high-performing assets which means that they increase in value over a period of time.
Owning a luxury home for them is like a secure investment. If they decide to sell the property after a while, they can be sure of getting a high return on their investment.
A modern and sophisticated lifestyle
Another reason why rich people buy luxury properties is because of the modern and sophisticated lifestyle they offer. Who wouldn’t want a smart home or state-of-the-art installations, from electronic security systems to remote-controlled window shutters, everything adds to the lifestyle wanted by the rich and the influential.
According to Coldwell Banker Global Luxury Report, high-net-worth homebuyers are now looking for smaller, more manageable square footage and modern amenities focused on wellness and technology.
So if you are one of those who desire an ultra-modern lifestyle, buying a luxurious home is the best decision you could make.
Additionally, the affluent seek these property types and features when buying a luxury property.
What features and amenities make a luxury property?
When it comes to luxury real estate, expensive doesn’t always mean luxurious. For a property to be considered “luxury,” it should provide residents with the highest level of comfort and convenience coupled with technological advancement.
The peaceful and calm Swiss-inspired luxury estates in Crosswinds Tagaytay.
Move-in ready homes
High-end home buyers tend to favor new builds with open-concept floor plans that support modern interiors.
Home automation and smart technology
Most affluent home buyers seek smart homes. For them, smart technology means having voice-enabled devices, smart security systems, and sun-powered roofs. Smart homes have now been redefined from being convenience-focused to experience-focused, basically integrating all components for daily living.
Promenade in Sta. Rosa features its luxury house model complete with smart home integration, Elliot.
Outdoor living spaces
Luxury home buyers consider flexible living spaces that can serve a different purpose. Think of multifunctional spaces like dining rooms that can double as conference rooms, or nook where one can work from several days a week or run their businesses.
While traditional features such as a spa and fitness center may promote well-being, luxury home buyers want more than that. They want amenities that emphasize holistic health as well as environmental responsibility. Think of energy efficiency, air, and water flow, and lighting quality as wellness considerations in the design, function, and location of luxury properties.
Luxury condominiums nowadays obtain eco-friendly certifications in line with the global trend of wellness real estate. Many home buyers are expecting a green development especially after the pandemic hit the globe.
Other property features and amenities that luxury home buyers seek to center on providing services and spaces for children and pets. Investing in luxury real estate is one of the most exciting ways to grow wealth because of the number of options you can explore to get started.
You can buy an existing luxury home, remodel, and resell for higher profit. You can get relatively quick gains from your luxury buy this way.
Renting out a luxury property
Consider high-end vacation rentals or perhaps a luxury condo in a busy downtown area. Buying a luxury property in a strong, affluent market will give you a highly desirable commodity that can protect your investment and bring you lucrative gains.
Building from the ground up
A brand new luxury home in the latest style and boasting the most desired amenities promises the highest profit margins.
There are various reasons why people love to buy and invest in luxury properties. A lot of the rich and famous would purchase a luxury property because it gives them the chance to explore their passions, it matches their tastes, and it also allows them to indulge in things that are important to them.
In buying a luxury property, you also have to take into consideration the reputation of the property’s architect, designer, or developer. If you decide on selling it in the future, you can put a higher price tag on your home if it has the signature of an acclaimed architect or a trusted developer.
Meanwhile, if you are planning to invest in luxury real estate, guidance and advice from knowledgeable real estate sales professionals will lead to a smooth and successful foray into luxury property investing.
If you’re serious about investing in luxury real estate, hiring a real estate sales professional who knows the market is the way to go. The world of luxury real estate is not one that relies solely on property listing sites. Many luxury buyers and sellers put a premium on privacy and will not go through the usual channels.
Brittany Salesforce, the official selling arm of Villar-led Brittany Corporation, is composed of real estate sales professionals with vast experience in luxury real estate and a proven track record in handling and servicing the most prestigious clientele in the country.
In purchasing a luxury property, due diligence comes first. A luxury home may have premium appliances and smart tech features, but that doesn’t mean that it’s free from structural damage. Home inspections are a must. Take the time to look into the neighborhood as well. Find out if there are any development plans that could affect property values in the area.
If you are currently in the market for luxury properties, Brittany Corporation offers a fine selection of home designs in excellent locations: Portofino in Alabang, La Posada in Sucat, Augusta, Georgia Club, and Promenade in Sta. Rosa, Laguna, and Crosswinds in Tagaytay.
Brittany Corporation is the premier name in luxury real estate development in the Philippines and a subsidiary of the largest homebuilder Vista Land & Lifescapes, Inc., that offers Old European and American-themed projects and creates masterpieces of upscale living for luxury homebuyers with a taste for artful living. Beautifully designed luxury properties loaded with a wide range of convenient amenities, definitely worth investing in.
Brittany Corporation’s communities continue to offer luxury properties that are rich in character and sophisticated in thematic appeal. For more information on Brittany Corporation and its roster of luxury-themed properties, visit their official Facebook page.
You’re going to want to be sure to work with a luxury real estate sales professional who has a proven track record and experience in successfully navigating the luxury real estate market. All real estate sales professionals have their specialties and it is necessary that you understand the ins and outs as well as the trends in luxury real estate.