Whether you own a property, rent it out or flip one, real estate has been a safe investment option throughout the years. People who have wealth are looking to expand their portfolios by tapping into the luxury real estate market.
As the wealth of the richest is continuing to grow, so is the market for luxury properties which is now larger than ever. High-end buyers are looking for locations across the world which have access to the best amenities and luxuries such as high-end shopping, art museums, fine dining and proximity to other luxury residences.
A trophy address such as the Jumeriah Palm or Notting Hill has become a symbol of wealth and status. Estates with a rich and storied history are also very popular for those with love for the past. Luxury buyers are also seeking natural beauty like a waterfront location or a mountainside view from their homes that add a nice aesthetic to their place of residence.
The luxury real estate around the world targets these buyers by including the newest features that are highly desired. While this may be typical in the average real estate market as well but in the luxury property market, everything is done on a much grander scale.
High-end buyers want privacy and security, which can sometimes even be to the point of complete seclusion. The market is all about beauty inside and out, custom architecture, bespoke interior designing, lavish details and opulent touches.
These properties also include world-class modern amenities which are highly desirable and luxurious. Whether it is a chef’s kitchen, a luxury pool, an expansive owner’s suite, top-notch outdoor living spaces, home automation, temperature-controlled wine cellars, car lifts and motion detectors – no detail is too much. There are places with huge rooms or smaller ultramodern apartments in metropolitan areas for those who don’t need space to live in luxury.
But how much do these luxurious properties actually cost? Some markets have a generally lower price range. You can get a piece of luxury real estate for as little as half a million dollars. However, most real estate markets, especially in popular locations around the world, cost a couple of million dollars.
Investing in these properties can be much more exciting than investing in securities because they have tangible value. You can not put a price on the beauty, style, comfort and luxury they offer you. You can enter the luxury real estate market as a resident, landlord or a vacationer. It is a promising endeavour that has much to offer you.