Here’s what wealthy people want in their luxury homes

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
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”
781 Fifth Avenue and Howard Lorber
Full 17th floor at Sherry-Netherland asks $30 million
Full 17th floor at Sherry-Netherland asks $30 million
(Photo Illustration by The Real Deal with Getty)
New listings in Manhattan, Brooklyn rise for first time in 4 months
New listings in Manhattan, Brooklyn rise for first time in 4 months
Tamir Shemesh and Ryan Serhant
Top broker Tamir Shemesh out at Serhant
Top broker Tamir Shemesh out at Serhant
Louis Buckworth with 520 Park Ave
520 Park Avenue unit sells for $22M in rare resale
520 Park Avenue unit sells for $22M in rare resale
Williamsburg apartment buildings
Williamsburg penthouse tops Brooklyn’s luxury contracts
Williamsburg penthouse tops Brooklyn’s luxury contracts
10 Riverside Boulevard (One Waterline Square, Getty)
Holiday hangover: Manhattan’s luxe market is stuck
Holiday hangover: Manhattan’s luxe market is stuck
Joe Tsai with 220 Central Park South, Vlad Doronin with 730 Fifth Avenue, Paul Allen with 4 East 66th Street, Michael Stern with 111 57th Street
Here are NYC’s 10 priciest homes of 2022
Here are NYC’s 10 priciest homes of 2022
arrow_forward_ios

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

Loading...