With COVID-19, everyone expected a major slump in the real estate industry. However, as Australia managed to cope up with the impact of the pandemic, the economic conditions went fine, and the real estate industry kept going great.
In fact, the first quarter of 2021 saw an increase of 17% in luxury home sales*. The high demand was well reflected in the decreasing number of days a luxury property was up for sale. The average time any luxury house took to get a potential buyer dropped significantly, and the prices rose noticeably.
But, what has been pushing the demand for luxury homes? Are the other residential properties on sale not up to the mark? Well, the answer lies in the following list of reasons. By the end, you would know why wealthy and established segments of society want to own such real estate offerings or build a luxury custom home of their own.
It is a Matter of Status
Your home tells a lot about you; call it an extension of your personality. And besides, you are not buying or replacing it now and then. A premium residential property is a long-term investment, so you want it to portray your prestige and luxury lifestyle, not just a postal address. This is indeed an opportunity to enhance your social status with your hard-earned money.
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Everyone Wants Comfort
If you long for modern comforts in your daily living, luxury homes are your best bet. You get all the features like swimming pools, themed gardens, home gyms, meditation centers, motion-sensor lights, entertainment areas, and most of all, electronic security. These prime features and amenities exemplify your luxury living to the maximum.
Security is Important
The most important feature of luxury houses or condominiums is their top-notch security. Hi-tech security systems such as smart locks, fire alarms, CCTV surveillance, etc., are usually in-built to prevent your family and prized possessions from crime. While living inside its boundaries, you never have to worry about the aspect of safety.
Your Kids Need a Good Society
The benefit of housing in a luxury apartment is that you get to enjoy an elite neighborhood and respectable community. This is very important if you have kids. You want to give them the right type of environment to grow up in and socialize. The diversity of cultures and beliefs of people around provide them great learning from childhood.
Technology and IT Innovation is Like No Other
One thing that attracts buyers to luxury homes is the ultra-modern lifestyle and tech facilities. From solar lights and motorized window shutters to face scanning to facial recognition entrances, these properties have anything and everything a person can dream of. The desire to experience something extraordinary is fulfilled there.
Investment is Worth Every Penny
The views of a luxury home are highly drool-worthy. They can be located in the middle of the city, face the seaside, or have a landscape of mountains at the backside. The unique architectural design and the intricate details of interiors speak of pure luxury, fetching you high ROI when it is time to resell. Get in touch with a luxury home builder to start your project.