What are the characteristics of a luxury building?
“Luxury is the fundamental refusal to limit one’s life to survival”, in fact this imaginary of life is found in the real estate environment, by maximizing the potential of goods, in particular by offering a situation of excellent comfort and a certain prestige, and a rarity that the client will not find anywhere else. He will then be able to take advantage of a vast and sumptuous living space on a daily basis, which will allow him to achieve a relaxed lifestyle. But what are the characteristics of a high-end building?
A basic definition could be the most common, which is most often found in a real estate agency, that is to say a property located in a single location, offering exceptional services or exclusive features; buyers are looking for a haven that combines elegance and pleasure, in order to live an unforgettable experience. But it would be too simplistic to rely only on these criteria. Indeed, this is a theme that is daily influenced by simple factors, which can strongly influence real estate potential.
First, several studies of Luxembourg Real Estate market have been able to highlight important filters depending on the goods. The respondents consider that the brightness of the property is influential at the threshold of 81%, that the area / location where it is located plays for 63%, the level of housing for 50%, the presence of garage / parking space for 44%, and finally the terrace for 38%.
The value of a luxury property can therefore be highly sensitive to many criteria, among which there is effectively the price, subject to numerous comparative studies and very variable depending on the standing of the services offered, but above all the differentiating characteristics: quality, localisation, environment.
Quality, location, environment
Quality is an essential guarantee of luxury, and generally results in the choice of materials, the conception of the design, the aesthetic dimension and also the criterion of charm. The most meticulous customers and connoisseurs of the latest trends will rely heavily on the style of the property, and will not hesitate to “arm” themselves with the latest advisers on the subject!
The location of the property will equally influence the feeling of luxury and, of course, the price. The rewarding effects will be for example the prestigious districts, the calm, the proximity of famous place… a criterion which one finds in particular in inescapable districts such as Beverly Hills, emblematic symbol of luxurious residences whose celebrities adore!
In the same spirit, the environment of the property, whether it is positioned either on the sea, the mountain, or according to the landscapes it offers, will contribute to luxurious and prestigious renown. In addition, the equipment and facilities offered, such as air conditioning, a swimming pool, household appliances (…) or the use of prestigious brands will also increase its value and bring remarkable added value.
Luxury is rarity, creativity, elegance
Ultimately, luxury in real estate is based on many and variable factors, directly influencing the potential of a property. It is nevertheless always true that the value of a luxury property is firstly established on the rarity it offers: “Luxury is rarity, creativity, elegance”. It is therefore up to the client to establish his own definition of prestige, based on the idea that he has a dream property, which is then inspired by the luxury of thought.