A couple of recent articles in Mansion Global look at how luxury real estate developers are continually raising the bar to satisfy the ever-increasing expectations of discerning HNWI buyers. But it’s no longer just about the physical elements.
When luxury residential developers plan their projects, much thought goes into the amenities and features that will most entice buyers and offer ‘more’ than the competition. Whilst in the past a Kids’ Club, pool, gym and concierge service might have been enough, in today’s high-end market such features are considered standard.
Today, many developers incorporate amenities and features that have been well tried-and-tested in the luxury hotel and hospitality sectors, but it’s not enough to include a wide-range of features that simply tick the boxes; it is the authenticity of experiences for residents and the meaningfulness of the spaces and living environments that have now become more important than the amenity itself.
The article focuses on four elements that developers are incorporating into new luxury projects:
• Health & Wellness
This should of course include a gym, but should go further to add services like personal training and nutrition plans for residents. There’s also a need for “trendy” equipment like battle ropes, resistance bands and TRX cables.
Many would also expect areas dedicated to yoga, pilates and meditation as well as spa facilities.
• Older kids
Child-friendly areas have traditionally only catered to young children with playrooms. Developers are now tackling the challenge of keeping teens occupied with engaging and creative activities.
• Smart technology and connectivity
It’s inexcusable to not have lightning-fast WiFi in this day and age. Attention has now moved to intelligent security, lighting and heating.
• On-site personal and concierge services
Convenience and personalised services are integral to the overall experience of owning a home in a branded residence. On-site salons, bakeries and more are becoming increasingly common.
Readers may like to download a free copy of our “Branded Residences: An Overview” report , which also looks at industry trends and was written by an international real estate marketing expert.
