Seven Trends: Defining the Luxury Home of Today

The State of Luxury Real Estate 2022 (SOLRE) research spans 20 countries and 4,673 interviews among high-income (top 5%) and high-net-worth individuals (USD $1 million or more). it fields data collection in the fourth quarter each year and focuses on luxury home (USD $1 million or more) buyer’s wants and needs, preferences and lifestyle.

 

The Luxury Home of Today reports the heart of the luxury market to describe and detail what consumers deem to be essential features of the home and life.

 

  1. Security and self-sufficiency are top priorities in the next luxury home.
  2. Sustainability is a key differentiator in luxury homes. Basic features such as energy efficiency will suffice for now, but more fundamental expressions will be needed in the future including design elements and building materials.
  3. At-home entertaining is coming back – formal living and dining rooms, a chef’s kitchen with dual luxury brand appliances, a dedicated wet-bar and an outdoor kitchen all top the list.
  4. Indoor styling is moving outside. In addition to the outdoor kitchen, buyers want a pool area with lounge seating, fire features, smart technology and wireless Internet.
  5. The Great Outdoors calls as buyers seek grassy yards and areas for gardening. Whether flowers, edibles or the stones found in a tranquility garden, buyers love bucolic scenes.
  6. Lifestyles are dominated by a pulsation of active and idle time. Buyers love reading, learning new skills and contemplative time in relative quiet and solitude. When that is over, they love being active, spending time with family, exercising or training and using the latest in at-home technology to recover more quickly.

 

Read the full publication here.


 

Leave a Reply

Your email address will not be published. Required fields are marked *