What makes a luxury Property?

Luxury property is, of course, subjective. One person’s idea of domestic opulence will not appeal someone else. However, there are particular features that all high-end property managers should consider in order to add some luxury to their properties.

A luxury property will ultimately be defined by its quality. Luxury property managers should therefore look to build relationships with high quality developers. Working closely with premium developers gives managers piece of mind that the properties they offer tenants will be of the highest quality, made with superior, long-lasting building materials and appliances, and finished with an elegant touch.

Luxury properties also put a premium on space and location. Developers and landlords should consider how space can best be used in a property, with many residents favouring open-plan living areas. The location of a luxury building is also key. No matter the country or city, luxury homes are the ones with the most coveted locations. With a growth towards wellness, luxury property developers are increasingly prioritising green spaces and access to wellness facilities: spas, gyms, meditation rooms and sports activities.

Luxury properties usually come with certain added features that are not found in traditional houses. These add on features can range from saunas, spas and swimming pools, to cinemas, game rooms or guesthouses. A modern luxury home will also be fitted with cutting-edge smart tech features such as motion sensor lighting, thermostats that adjust automatically and remotely, and curtains that open and close at sunrise or sunset.

While luxury is rooted in the architecture and design process, there are certain things you can do to existing properties to make them more luxurious. Interior design plays an important role. Accessories, fabrics, artwork and lighting are all things to consider. If the property is not as large as you’d expect a luxury home to be, there are certain things you can compromise on. While your property may not have a lavish dressing room or exercise room, a spacious kitchen and living space is timeless. Upgrading to luxury appliances and new smart tech devices will also instantly elevate the space.

Of course, a luxury home will also have plenty of things that can attract unwanted attention. Therefore, home security systems that utilise IoT to provide a 24/7 security are increasingly essential in luxury properties. Comprehensive alarm, locks and camera systems supported by a professional response offer resident their peace of mind.

This 24/7 service can also be supplemented with a permanent concierge service. Combining this routine daily convenience with additional exclusive benefits within the local community help foster the exclusivity of the property.

While there are no established rules to luxury properties, certain features are timeless. Understanding what high-end tenants look for will help landlords boost their luxury offerings.

Written by Israel Moskovitz,

“What makes a luxury building?” first appeared on my Medium profile.