Luxury real estate does not just mean an expensive price tag but also uniqueness, exclusivity and convenience.
Throughout time, real estate has proven itself as a highly stable asset type, and it has been especially obvious at the background of the health crisis that has hit the world. Increased real estate prices, growing demand and low offering have created a precedent also in the luxury real estate segment where today the owner who has built a high-quality and dignified house may get a very good price for their property. It is also possible to make good investment decisions with luxury real estate in Estonia, both in longer and shorter perspective.
I have been active in sale of luxury real estate for ten years and thereby made a number of observations about the qualities that make a property truly luxurious.
Location
Location is the crown jewel of a property. It may be a seaside property; a lovely view of the sea, town or nature combined with privacy and higher-level architecture.
Size matters
Luxury real estate is associated with spacious planning, high ceilings and plenty of space.
First-class interior design
A selection of modern and natural materials in their best variation. Well-known world-famous icon brands add a timeless and gracious touch.
Well equipped kitchen
The kitchen of a luxury home is spacious and has a timeless design. It always includes a very large kitchen island, a warming drawer, a wine cooler, a side-by-side refrigerator with an ice machine, professional equipment, a separate storage room, an automatic vacuum cleaner, a separate breakfast table and a dining room, plenty of cupboards and storage spaces.
Bathroom like a suite
A spacious shower, a modern bathtub, a towel drier, a special make-up mirror with lighting and a new-generation ‘smart’ toilet.
Royal bedroom
The master bedroom blends a royal atmosphere with a cosy touch. A massive bed is definitely the crown of the room, with a possibility to use remote control for turning off lights, close curtains, adjust temperature, enjoy movie nights and listen to good music.
Elegant boudoir
For perfect well-being of a woman, a separate boudoir has been designed in an exclusive house, with plenty of mirrors, a special lighting and drawers and shelves for make-up supplies.
Grand wardrobe
An inseparable part of a royal bedroom is an especially grand walk-in wardrobe with separate sections for each of the spouses. A wardrobe of at least 20 m2 has a dedicated closet for shoes, shelves for convenient storage of bags from iconic brands, glass drawers for storage of valuable accessories, plenty of space for clothes and a mirror wall from floor to ceiling.
Compact training hall
A home training hall includes a mirror wall, a selection of dumbbells and training machines as well as a wireless sound and projection system where it is possible to select a suitable background to suit the mood.
Home spa
A home spa set is a combination of a heated pool or jacuzzi, a vapour or steam room and a lounge.
Stylish barbecue house
A perfect outdoor kitchen has an integrated gas grill, an electric cooktop, a stainless steel worktop, a refrigerator, a separate lounge and eating area.
Rooms for housekeeper
If necessary, separate rooms are planned for a housekeeper or nanny who stays with the family for a longer period.
Spacious garage
It is essential to have a warm garage with windows for at least four cars with an integrated washing system in order to store luxurious technical accessories.
Modern technology
A smart home system is a very important convenience system in high demand for the current fast pace of living, and it is impossible to imagine a luxurious property without it. Next to everything else that the system offers, a luxury house also has remote controlled curtains, doors that can be opened from a distance, a music system with voice control, a self-playing piano, etc.
Extensive storage spaces
The interior solution of a luxury property includes well planned wardrobes and storage rooms.
Elevator
Even the craziest ideas can be easily implemented in the current fast-developing world. A home elevator has been planned for a spacious villa spanning three floors, which helps to transport larger objects or move between floors when feeling tired.
Security systems
A luxury home must be protected from the eyes of strangers and uninvited guests. Usually a villa is surrounded with surveillance cameras that are connected with a security room. It is possible to set different zones for surveillance and view what is happening both in the house and around the property.
Pets should be taken care of
If necessary, there is a heated building in the yard for the guard dogs and other pets of the family.
Home cinema
A home cinema and a game hall are essential places in a luxury home where the family can spend time together in evenings.
Tennis courts
Luxury lifestyle requires a possibility to play tennis and minigolf with friends and family in the home territory.
Luxury real estate as investment
Through time, the building quality of real estate has improved and the needs and requirements of people have increased.
Today, there is plenty of room on the market for exclusive real estate in all sectors.
Luxury real estate has strong prospects in several aspects:
- Flipping – an object that requires renovation but is suitable for luxury real estate is bought, renovated with high quality and sold with a profit.
- Luxury property for lease – there is big lack of especially luxurious leased properties for which clients would be willing to pay a considerably higher rent than the average market price, which would bring very good lease yield to the owner of a more expensive property.
- New property – new properties with great location meeting the qualities of luxury real estate are currently in very high demand.
Real estate is a solid investment but we always recommend to consult a professional in order to make the best choices.
Kairi Vanem, Uus Maa Luxum maakler