The 2019 housing market figures reveal that high-end living is under pressure. While luxury home sales have dropped, the average price of luxury homes has increased by 4.7% in the 4th quarter of 2018. Those looking to sell may have the benefit of selling at a higher price, however, they will need to snuff out the competition. By ensuring that the home ticks all the boxes where the latest trends are concerned, homeowners can sit back, relax, and count those extra dollars.
Form And Function In Its Natural State
While bare light fixtures and Eastern-inspired tiles and floor treatments provided the basic design elements for 2018, this year delves deeper into the natural elements. This means even more focus on exposed rock surfaces such as natural slate, stone, granite, and unpolished marble. Wood elements tend to pair up well with the stone and provide some warmth by means of wall panels and timber ceilings, while brass fittings add a touch of drama and bring together all the design elements. Sleek and minimalist design requests are on the increase, allowing homeowners to enjoy the ultimate luxury without all the clutter and fuss.
Provide A Gap For The HENRYs
One of the biggest game changers in the high-end luxury market is the addition of the HENRY (High Earner Not Rich Yet). This group of up-and-coming mega-earners are making their way up to the penthouse and need a place to say in the interim. According to 57 Ocean, two and three-bedroom apartments should enjoy the same level of attention to detail as the penthouse and large apartments do, which provides the ideal resting space for these up-and-comers.
For homeowners looking to sell their high-end property to a HENRY, there are some fundamental property basics required to tick this discerning customer's boxes. HENRYs place higher value on experiences than things, which means that homeowners should bring attention to those luxury aspects that add to experiences such as epic scenery, fireplaces, entertainment areas, and more. Well-being is one of the new buzzwords when it comes to high-end properties and is aimed at those who treasure experiences.
Technology Is High On The List
The smart home is no longer just a concept, but a reality in many parts of the world, with voice-automated lighting, music, and coffee. But it's not just the basics that will make daily living easier, as ultimate luxury means ultimate efficiency. It's not only apps such as Cleanly - the laundry service - that provides ultimate convenience, but also appliances that know when the household is running low. This allows the coffee machine to order new pods, the fridge to order favorite foods, and even the soap dispenser to let a supplier know it's running low.
While the current housing market is undergoing some dramatic shifts, it's also making way for those who wish to experience a different side of luxury that strips it down to the core. High-end finishes that place little to no pressure on the environment, and a streamlined service that requires little to no effort from homeowners or staff.