What luxury home buyers look for in their prime properties

These are the top priorities for luxury home buyers today.

luxury home buyers, priorities, real estate properties, features,
The top demands show the three-year shift in consumer priorities towards outdoor living areas and close proximity to leisure activities.

Forbes Global Properties surveyed professionals from Forbes Global Properties member brokerages and asked them to share luxury home-buyer priorities in their respective property markets in order to better understand the preferences of today’s luxury buyers and to assist potential sellers in understanding key features in lifestyle markets. In the post-pandemic world, luxury homes are expected to have amenities that cater to the changing needs and preferences of HNW and UHNW individuals.

The top demands show the three-year shift in consumer priorities towards outdoor living areas and close proximity to leisure activities. “Due to Covid, buyers have been demanding more physical interior space and private outdoor space,” says Michael Rossi of Elegran Real Estate in New York City.

Along with the traditional must-have amenities, such as the latest smarthome technology and spa-like bathrooms, several features have become increasingly popular, including dual home offices, private pools and cutting-edge kitchens.

These are the top six ranked priorities for luxury homebuyers today.

Outdoor Space (gardens, terraces) – Outdoor spaces, especially covered outdoor entertaining areas, are in high demand.

Proximity to Lifestyle Amenities (e.g. ski access, beach) – Amenitized communities and buildings are a high priority for buyers today.

Multiple Home Offices – Buyers are looking for multiple home offices to accommodate several family members working or studying remotely.

More Space – Buyers are looking for extra space, additional bedrooms, plus large multifunction rooms and other entertaining amenities to host guests

Pool/Private Fitnes – Private pools, especially in new residential developments, are exceptionally popular with buyers today

Gourmet/Large Kitchens – Expansive and upgraded kitchens with top-tier appliances are in high demand by today’s luxury homebuyers across the globe.

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“Some new developments of late have been building private resident pools and tennis courts as part of an expanding array of amenities. Some buildings have even developed a few apartments with private pools on expansive terraces,” adds Rossi.

The past three years have been one of the most historically notable periods for the luxury real estate market. The pandemic, followed by the 2022 post-Covid period, has had a massive impact on the amenities that luxury buyers not only want in a home but truly need to maintain their lifestyles. All of these amenities are the epitome of luxury and exclusivity, making them ideal for homeowners who desire the best in terms of comfort and style, especially in the new normal of the post-Covid world.

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First published on: 05-03-2023 at 07:35 IST
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