There has been a great deal of speculation as to the health of the luxury market this year. Buyers, Sellers, and the near-silent Investor are hearing conflicting stories from all sides and all areas of the country. It’s for good reason though.
Tax laws effecting sales of luxury homes have made buying properties over $750,000 in areas like New York and California less appealing.
How do Realtors of the Luxury Niche handle all this stress?
Why with first class style of course! The following is an article written by The Institute for Luxury Home Marketing and it details 6 ways Realtors of the upper genre maintain their health and well-being.
The luxury lifestyle isn’t just about looking great anymore. It’s about feeling great, too. Of course, the world’s affluent still want jaw-dropping properties with inspiring views, but they’re also looking for more substance. In today’s fast-paced world, they also want homes that can challenge them physically, calm them mentally, and keep them centered.
As a result, wellness-related amenities have exploded in recent years. In fact, according to a report from ONE Sotheby’s International, properties with wellness-focused amenities sell for anywhere from 10% to 25% more than traditional luxury properties. In the luxury world, that can mean a significant sum of cash.
But what exactly are these amenities that today’s luxe buyers are looking for? The following are just some of the health and wellness features today’s top-tier buyers have on top of their wishlists. The Institute for Luxury Home Marketing is an authority on the world of luxury real estate and works with its members to provide insights and information about the latest trends.
#1: MEDITATION ROOMS
Meditation rooms—quiet, peaceful spots dedicated to self-reflection—are quickly becoming a hot commodity for the world’s elite. Tech-driven virtual mediation spaces are even hotter. These use a combination of virtual reality technology and tranquil design to enhance the owner’s meditative practices.
#2: SAUNAS AND MASSAGE ROOMS
Dedicated places to unwind and relax are also high on the list for top-tier buyers. They want saunas that can remove all the toxins of the day, private massage rooms where their on-call masseuse can get to work, and in-home spa stations, where they can enjoy a facial, get a Botox treatment or have their hair done without ever leaving the comfort of their own home.
#3: ON-SITE ORGANIC MEALS
Access to fast, healthy, and sustainably sourced meals is important to the world’s elite, and many luxury developers are finding ways to cater to this need. From bringing in five-star restaurants to deliver door-side, organic meals to on-site nutritionists and rooftop vegetable gardens, luxe real estate is offering buyers their pick of healthy at-home dining options.
#4: YOGA AND PILATES STUDIOS
Those dedicated to the art of yoga or Pilates often seek out properties with in-house studios—places they can hone their craft or enjoy one-on-one sessions with their trainer. In high-rise builders or condos, these might even take the shape of outdoor yoga decks or rooftop, private studios.
#5: TRANQUILITY GARDENS
These peaceful gatherings of greenery bring peace to the busy lives of affluent clients. Typically situated on high-rise rooftops in gritty, concrete-filled urban centers, they’re a haven of natural foliage to the affluent city-dwellers who call these spots home. Some developers are even taking this trend to the next level and offering full, on-site private parks.
#6: OXYGEN CHAMBER PODS AND CRYOTHERAPY BOOTHS
One of the perks of affluence is getting to enjoy the latest technologies and products before they become publicly widespread. In the wellness world, you can count cryotherapy and hyperbaric oxygen therapy among these. Many of today’s top-tier clients are looking to bring these new and evolving approaches into their homes to improve their health and increase their longevity. They’re especially popular with athletes, runners, and fitness enthusiasts, these high-tech amenities are known to increase blood flow and improve energy.
WHAT DO YOUR BUYERS WANT?
Knowing what the buyers are currently looking for in your local market—whether that is health and wellness or the latest interior decor trend—is critically important in today’s market, which is predominantly controlled by the purchaser. It can help understand the value of your property and determine whether or not adjustments, renovations or changes need to be made in order to achieve your desired goals, or more importantly help you stand out from your competition!