Determining what qualifies as luxury real estate is a more complex task than it initially appears. “Elitism” is not a fixed, unchanging indicator; it depends on both subjective and objective factors. To identify luxury real estate, one must consider quantifiable economic data and the subjective demand from prospective buyers.
In this article, we will explore the essential characteristics of luxury real estate from various angles.
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Contents:
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Luxury real estate from the viewpoint of a modern buyer
Modern affluent investors and buyers seek real estate that goes beyond mere opulence. They desire properties with unique and extraordinary locations, be it architecturally distinctive or culturally significant.
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What defines luxury real estate
Luxury real estate combines several defining characteristics, including location, price, size, interior features, neighboring properties, proximity to economic and social amenities, construction materials, security, and privacy.
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