You maybe often hear people talk about luxury real estate or luxury properties, but what exactly does that mean?
What kind of real estate are we talking about when we use this term? And above all, can your property be classified as luxury?
So, what is luxury real estate?
Luxury real estate or luxury properties are considered prestigious, unique, atypical, charming and located in highly sought-after areas. Luxury real estate is built using top-of-the-range materials and offer unique features such as panoramic views, high ceilings, home movie theater and tennis court…
Now that you know the definition, let’s go into a little more detail. In this article, we will discuss:
- What is luxury real estate?
- What defines luxury real estate? What are its features?
- Why buying a luxury real estate ?
- How to sell luxury property?
What is luxury real estate?
Luxury properties are rare, with character, built with top-of-the-range materials and located in highly sought-after locations.
Luxury real estate is also commonly referred as “luxury homes” or “luxury properties”.
Luxury real estate come in all shapes and sizes: modern villas, mansions, penthouses, castles, loft apartments, mansions…
In fact, it’s not the type of property that makes a property prestigious, nor the price. Even if it is start generally high (arround or over €1 million).
There are several criteria that differentiate luxury real estate from traditional real estate.
Which brings us to our second point.
What defines luxury real estate?
Although luxury properties are very different from one another, they have several criteria in common:
- A sought-after, privileged location : this is surely one of the most important criteria. Location plays a crucial role in defining a luxury property. As soon as a property is located in a sought-after location, it becomes rare and increases in value.
- Top-of-the-range features: luxury real estate stand out from other by offering unique, top-of-the-range features. Most have splendid sea views, beach access, gyms, saunas and some even have private tennis courts or music studios and modre…
- Unique architecture: what makes luuxury real estate so attractive is that they don’t look alike. The most luxurious the property is the most unique his architecture can be.
- Durable, quality materials: luxury properties are built with quality materials. The aim is for them to stand the test of time.
- Attractive surface area: these properties are seductive because of their surface area. The living rooms are numerous and spacious with high ceilings to add volume. The main living spaces are usually open to the outside, so you can enjoy spectacular views.
- A special history: sometime luxury real estate can be steeped in history, like certain mansions, or old houses and appartments. It’s often this story that charms buyers and makes them fall in love of the house.
- Vast outdoor spaces: it’s not just the interior that’s important, but also the exterior. Luxury properties often benefit from large outdoor spaces, whether vast gardens or large terraces.
Why buying luxury real estate?
Buying a luxury home obviously means enjoying exceptional living comfort. You’ll enjoy outstanding amenities, spacious interiors and exteriors, breathtaking views…
But that’s not all. It’s also a long-term investment. As you can see, for luxury real estate to be considered as such, location is crucial.
If your property is located in a well-known area that is highly sought-after by buyers, you can be sure of reselling it at an attractive price. Thanks to their location, these properties increase in value over time.
Buying a luxury property also means diversifying your income, since these are properties that you can easily rent out.
The Costa Blanca is a very popular region for wealthy tourists, so you’ll have no trouble finding a rental property.
How to sell luxury property?
A luxury property can be sold by between individuals or through a traditional real estate agency or through Off Market real estate agency, thanks to the contacts and connections of a real estate agent specialized in the field.
The advantage of selling your luxury property off-market is time saving by selecting only qualified buyers to view your house and you can sell without anyone knowing it . Your agent will verify the identity and the funds of potential buyers to limit the number of viewings and increase the chances of receiving an interesting offer.
The confidentiality offered by the Off Market means you can preserve your privacy, control the level of exposure of your house and receive more honest offers appropriate to the fair value of your property.
The more a property is displayed in the public eye, the more buyers try to negotiate the sale price, thinking that sellers are in a hurry to offload their homes.
Hidden & Listed is a real estate company specialized in off-market luxury properties. If you would like to sell or buy off market, you can contact us directly or take a look at our methods: Hidden & Listed
Conclusion
Also known as luxury homes or prestigious properties, luxury real estate is unique, located in sought-after, renowned areas, with atypical history and architecture.
Quality materials, top-of-the-range amenities and large surface areas are the hallmarks of these distinctive, sought-after properties.
The fact that these properties are well located and attract the attention of potential buyers makes them a great real estate investment, whether you want to sell or rent.
