– The current state of the luxury real estate market is showing reasons for optimism, according to latest reports by Coldwell Banker and Christie’s International Real Estate. It’s like real estate has become that forever hopeful friend you just cannot hate.
– In their report, Coldwell Banker revealed a sneak peek into the world where penthouses and waterfront manors are iTunes playlists—heavy on modernity, well-mixed with city views and soaking bathtub ballads.
– Notably, in this symphony, new-technology-inclined homes are getting center stage roles. Smart home features have now become the newly coveted Prada boots for the ultra-rich. Expect homes to soon respond, ‘I know,’ when complimented for their intelligence.
– The report also mentioned ‘well-being real estate’ as the upcoming supermodel in the industry. These include properties which encourage healthier lifestyles like yoga studios and gyms. Because after all, who doesn’t want to enjoy a sunrise yoga session on their personal terrace while their Teslas get charged downstairs?
– Christie’s International Real Estate also sang a similar tune, only with more champagne. Their data revealed there has been substantial growth in interest for high-end properties, demonstrating that luxury market is clearly not facing a ‘Ferrari-fatigue’.
– The Christie’s report also noted a record-breaking number of sales in 2020, as the rich, confined by pandemic borders, started playing a luxe-version of Monopoly.
A Real Estate Rhapsody
Themes of Tech and Wellness
In the repertoires of Coldwell Banker and Christie’s International Real Estate, two major themes croon the loudest: technology and wellness. It’s indeed apparent that the ability to control your entire home from an app, and living a life that would make Gwyneth Paltrow green with envy, is becoming a trend amongst homebuyers.
The New Era of Luxury Property
The boom in luxury home sales in 2020 gives a couture-twist to the adage, ‘Home Sweet Home’. It certainly won’t be long before we see Gucci-designed living rooms and homes literally smarter than their owners. Maybe, just maybe, we’ll also discover the key to success lies not just in luxury real estate, but in embracing a well-being oriented lifestyle. A blameless symbiosis of wealth and wellness is predicted to sway the future of real estate.
Intel’s Take
The data from these reports reminds me of a quirky quote from Zsa Zsa Gabor. She once said, “I’m a great housekeeper. I get divorced. I keep the house.” Well, the luxury real estate market isn’t averse to embracing this sense of biting humor.
These reports suggest that the luxury real estate market is not just staying afloat, but is thigh-high wading in champagne. The rich and famous aren’t just buying houses; they are buying cutting-edge technology and topping off with health-yielding environments.
To all the businessmen out there who have been fretting about their next investment, stop twiddling those thumbs! This may be an opportune time to trade in those Armani suits for a set of blueprints. As the luxury real estate market sings in tune with technology and wellness, it’s not just real estate—it’s show business.
Original article: https://www.inman.com/2024/03/04/luxury-forecast-what-lies-ahead-for-high-price-buyers-in-2024/
