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An interesting article recently published by Mansion Global outlines how the bar gets raised higher and higher as real estate developers compete to ‘out-gadget’ each other, searching for new and original amenities to offer in their luxury residential units. If this is truly what buyers are looking for in new properties, it represents an important opportunity for international real estate marketing professionals.

The article highlights four distinct trends that international real estate marketing professionals should emphasise to potential buyers.

• A focus on health and wellness 

A generic gym or even swimming pool will no longer cut it with today’s discerning buyers. It’s now expected that any development will come complete with specialist equipment (such as battle ropes, TRX cables and medicine balls) and additional facilities such as meditation spaces, steam rooms and even dedicated fitness teams that include personal trainers and nutritionists. When it comes to swimming pools, saltwater types are preferred and they should either be Olympic-sized or exactly half of that, so that swimmers can properly time their laps.

There’s also an increase in holistic wellness features such as smart lighting and steam-ovens for lighter cooking options.

• Catering to older kids

In years gone by, facilities for children focused on toddlers and younger children. Creches and playrooms were commonplace, but “hangouts” for tweens and older were rare.

Developers are now making efforts to provide areas where older children can play video games or express themselves creatively through music and art.

• Smart technology and connectivity

For a while, the buzz around smart homes meant that developers looked to stuff property with as many gadgets as they could get their hands on. Nowadays, the emphasis has moved to adding features that only provide genuine value and are of use to the buyer. Chiefly, pre-wiring for connectivity during construction.

Another preference is for including temperature controls for individual rooms and additional security features such as facial recognition at access points.

• On-site personal and concierge services

If in international real estate marketing personalisation is king, in modern real estate development it is convenience.

On-site facilities such as salons and concierges who are ready to fulfil any request provide the personal touch that creates a “five-star resort” feel to a home.

It’s clear that the world of property development, and indeed international real estate marketing, is rapidly changing to meet the needs of the modern buyer.

It’s over a year since Marriott International entered talks to buy Starwood Hotels & Resorts, leading to much speculation about which brands will survive within the combined, enlarged entity. This interesting article looks at how the world’s largest hotel group is in fact planning to retain and segment its portfolio of 30 brands.

The 30 brands, even if they are very similar or traditionally considered to be direct competitors, will continue to operate as normal and will not be undergoing and branding changes. Many international real estate marketing insiders assumed that at the very least, the three brands which comprised of independent properties would be placed under a single umbrella and take on consistent branding. As it stands, Luxury Collection (with such properties as the Gritti Palace in Venice or the Palace in San Francisco), Tribute Portfolio (which includes the Royal Palm in South Beach), and Autograph Collection (Pier One Sydney Harbour; Atlantis Paradise Island) all retain their separate and distinctive brands.

How Marriott is Keeping Branding Distinctive

Marriott is identifying two main types of luxury travel ‘personas’ for their international real estate marketing efforts, characterising Ritz-Carlton, St. Regis, and JW Marriott as “classic luxury” while the other five luxury brands (e.g. Bvlgari, Edition, the Luxury Collection) are offering what they describe as “distinctive luxury.” The two categories represent different styles, with classic appealing to customers who are looking for traditional and business travel-friendly accommodation and distinctive appealing to those who want something more unique, modern and boutique.

This is a fascinating example of international real estate marketing at work, and it will be interesting to see how Marriott manages to retain the distinctions between famed rival brands such as Ritz-Carlton and St. Regis in practice. Global brand office of Marriott, Tina Edmundson, believes that it has already found the solution, explaining that each brand will cater to different mindsets. She points out that for the Ritz-Carlton, customers like to use it as a base to explore the surrounding area, whilst St. Regis customers consider the hotel itself to be the destination, and like to enjoy “performances by jazz legends or signature rituals like midnight supper and St. Regis bloody marys.”

 

 

Dubai is an undisputed world leader when it comes to luxury branded residences and international real estate marketing in general, so I was interested to read a recent report in Khaleej Times that highlights an example of the added value that branding real estate can deliver.

The Regal Tower in Business Bay is the second Kempinski-branded residences in Dubai (the first is on the Palm Jumeirah); facilities here include luxury real estate, 3 restaurants and a coffee shop, 5 swimming pools, valet parking and one of the biggest gyms and spas in Dubai.

Priced at its launch at Dh2,100 per square foot, the project is due to complete in 2019 at which point Brian Etemad, CEO of selling agent Tamleek, forecasts that “…the price is bound to appreciate to Dh6,000 per sq ft by then”. Etemad adds that several units have already been sold: “We don’t need to do road shows since Kempinski-branded units sell on their own.”

So there it is: Self-selling real estate that appreciates rapidly. What more could a developer wish for?!

 

In the months preceding the US election, a study commissioned by Yahoo Finance found that the price premium attached to Trump branded residences had fallen, and in October hundreds of (mostly) Trump tenants in NYC signed an online petition titled “Dump the Trump Name” from their buildings.

I wonder what a fresh study might find regarding the value of the Trump brand, now he is heading for the White House? It certainly gives credence to the notion of him launching Presidential Suites!

 

Graham Associates has been appointed alongside Sphere Estates to manage the international real estate marketing and sales for the final collection of residences at The Landings St. Lucia, an established 5* beachfront and marina development.

With spectacular uninterrupted views over Rodney Bay on one of St. Lucia’s most celebrated beaches, this impressive residential resort offers buyers the rare opportunity to own a freehold beachfront home in one of the most desirable and popular locations on the island.

Catherine Moye’s positive article on branded residences “Sleeping Partners” (based around our recent industry report ‘Branded Residences: An Overview’) is published this month in Spears Magazine Issue 53, for which international real estate marketing authority Chris Graham was interviewed.

Please view the piece here.

Having been appointed earlier this year following a tender involving no less than 10 international real estate marketing agencies, our team has now completed the renaming (Sanctuary Point) and preliminary branding of this spectacular resort site on the coastal entrance to the Bay of Kotor.

We look forward to starting work on the marketing for the private residences in the coming weeks.

Our recent report on branded residences, written by international real estate marketing expert Chris Graham, is prominently featured as a leading article in the impressive first issue of International Prime Properties magazine:

International Prime Properties – Branded Residences – Spring 2016 (LR)

Please see below links to press coverage of the Branded Residences Report. The report was recently produced by international real estate marketing expert Chris Graham.

Branded Residences: An Overview

http://www.opp.today/why-branded-properties-are-prime-profit-vehicles/#bk9LrfWQrSkXHpMg.97

http://luxurysociety.com/articles/2016/03/branded-residences-a-luxury-trend-on-fire

 

Our team has been frantically busy putting the finishing touches to the international real estate marketing strategy for ITC’s amazing new luxury residences in Sri Lanka, which will launch at the end of the year.

In the best beachfront location in the capital Colombo, this will be a truly iconic development; with interiors by Philippe Starck at YOO, architecture by Gensler and ITC’s award-winning 5* hotel services, it will certainly deliver among the finest – and greenest – apartments and penthouses in the Indian Ocean region.