A Recent Trend in high-end real Estate is the increased interest in beachfront homes. Whether you’re looking to live by the sea or just want to listen to the waves lapping at the beach, luxury beach homes are a growing trend. This article explores this trend in greater detail. Buyers are looking for custom architecture, privacy, and access to luxury activities. They’re also concerned about the environmental impact of new construction.
Among the most sought-after features of a home, affluent buyers want easy access to other luxury properties and a location near luxury activities. Other features that attract high-end real estate include proximity to nature, waterfront views, tight security, and elegant finishes. Among the features buyers seek in luxury real estate, smart home technology is a top priority. Listed below are some of the top qualities buyers look for in their dream home.
Millennials are redefining luxury real estate. They’re increasingly environmentally conscious, data-driven, and have high purchasing power. Buyers in luxury real estate will benefit from pent-up international demand, as well as unprecedented access to cash and low-cost borrowing. Buyers’ priorities are more important than ever, and millennials will continue to drive market dynamics in the coming years. And because they can afford luxury, millennials are looking for more space than ever.
For many high-end real estate, security and privacy are the top priorities. A trophy address is a big selling point for luxury real estate. Waterfront properties and views of land are popular with luxury buyers. Privacy and security are important to high-end buyers as well as for their tenants. Their dream homes need to offer privacy and security, as well as beauty on the inside. Those who can afford custom architecture and over-the-top finishes are looking for luxury homes.
High-end buyers are often interested in proximity to other luxury properties. Having a trophy address is an added advantage, as these homes often have a great deal of value. Some also choose waterfront locations with expansive views of land or water. Beyond the location, high-end buyers are also interested in the privacy and beauty of their home. This means that they have the budget for over-the-top finishes and custom architecture.
As a result, homebuyers are becoming more concerned about the environmental impact of new builds, and more than half are willing to spend a significant amount of money on upgrades. The concern is also growing among younger buyers, who are drawn to homes with wellness features. More than half of millennials are now concerned with the impact new builds have on the environment. The younger generation is also more environmentally conscious, so they are more likely to invest in homes that have green features. By 2025, these younger affluent consumers will make up seventy percent of the luxury market, contributing a significant portion of the market’s growth.
While commercial developers are still lagging behind in adopting environmental standards, they have been under intense pressure to do so for years. Occupants and investors alike have been pressuring them to incorporate environmental standards into their projects as part of their ESG investment criteria. Increasingly, luxury residential properties have also begun to take these factors into account. In many cases, this is easier said than done, but it is essential for developers to follow the rules in order to avoid litigation.