Here’s what wealthy people want in their luxury homes

TRD New York /
Jun.June 22, 2014 10:00 AM

 In its annual Luxury Lifestyle ReportSotheby’s International Realty breaks down what’s important to wealthy real estate buyers.

When it came to amenities, Sotheby’s International Realty brokers said the number of clients who wanted a home with “smart amenities” has increased drastically over the last two years. These include appliances, lighting, entertainment systems, security, and more that can be controlled remotely from anywhere in the world.

China’s wealthy real estate investors also valued space to display their massive art collections, while U.S. buyers were mostly interested in having a multi-car collector’s garage, according to the report.

But location was definitely the top priority for luxury buyers around the world, with 71% of respondents telling Sotheby’s International Realty they would pay more for the home’s location over its size, historic significance, or previous (famous) owners.

And where do the 1% around the world want to live? Anywhere close to the water.

Luxury buyers in the U.S., Canada, France, Germany, Italy, Sweden, Switzerland, the U.K., Brazil, Hong Kong, Japan, Thailand, China, Australia, New Zealand, as well as those in Caribbean and Central America all searched predominantly for waterfront properties on sothebysrealty.com.

But high-end buyers from Spain, Venezuela, and Mexico were all more likely to look for mountain mansions. Russia was a major outlier, with its wealthy residents searching for countryside properties 83% of the time.

The survey was sent to Sotheby’s International Realty’s affluent consumers over 25 years old all over the world, from the U.S. to China, between January 28 and February 18, 2014. Search data came from sothebysrealty.com using Google Website Analytics between January 1, 2013 and January 1, 2014. You can read more about the methodology here.

 

Related Articles

arrow_forward_ios
Here are the week’s top luxury sales

Here are the week’s top luxury sales

Here are the week’s top luxury sales
Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)

For 15 years, David Koch lived at the world’s “richest building”

For 15 years, David Koch lived at the world’s “richest building”
Here are the week’s top luxury sales

Here are the week’s top luxury sales

Here are the week’s top luxury sales
19 Strong Place and 161 Warren Street (Google Maps, iStock)

Brooklyn’s luxury market has best week since before the pandemic

Brooklyn’s luxury market has best week since before the pandemic
217 West 57th Street with Extell Developement's Gary Barnett and Corcoran's Pamela Liebman (Photos via Extell; Barnett via Anuja Shakya)

Extell brings on Corcoran Sunshine to help market Central Park Tower

Extell brings on Corcoran Sunshine to help market Central Park Tower
1 Prospect Park West and 557 9th Street in Park Slope (StreetEasy; Google Maps)

Park Slope homes lead Brooklyn’s luxury deals this week

Park Slope homes lead Brooklyn’s luxury deals this week
389 Bergen Street and 219 Jefferson Street (Google Maps)

Nearly $30M in Brooklyn luxury contracts signed last week

Nearly $30M in Brooklyn luxury contracts signed last week
Sotheby’s CEO Charles Stewart and 1334 York Avenue (Sotheby's; Google Maps)

Sotheby’s gets $483M loan for its UES headquarters

Sotheby’s gets $483M loan for its UES headquarters
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...