Today’s international luxury realty buyers aren’t like the deep-pocketed big spenders of the past. The demographics and desired property features of today’s younger, more idea-specific buyers make for a vastly different clientele compared to years ago. Unlike the buyers of the past, today’s luxury realty buyers don’t focus as much on the size of their new expensive abode as its location and amenities. Of course, a bigger home does translate to having more room for sought-after luxury features.
A Younger Generation of Luxury Realty Buyers
Currently, the most active buyers in today’s luxury realty market are Generation X’ers: people between the ages of 38 to 53. In contrast, the most active sellers are people in the Baby Boomer generation, between the agest of 54 and 72. These luxury realty buyers of yester-year are now focusing on retirement and transitioning from their large suburban homes to more urban, smaller upscale apartments and condos.
Additionally, with the income they’ve earned in technology and finance, older millennial buyers primarily born in the U.S. between 1977 and 1985, are coming into the international luxury searching for a second home.
Wanted: Suburban Contemporary Properties Loaded with Amenities
The new generation of luxury realty buyers know what they want and won’t just settle for a big house on a hill or a penthouse in the city center. A recent survey done by Inman revealed that 49.12% of respondents preferred a suburban luxury property, while only 15.79% were seeking a home in the city.
The survey’s findings also brought to light the fact that today’s luxury realty buyers want homes that “do it all.” Among these amenities included rooms or areas that you may not have found in luxury homes of the past. From the greatest desire to the least important, the respondents said they wanted the following in their new luxury home:
- Pool or Grotto
- Indoor Movie Theater
- Outdoor Kitchen
- Private Spa Room or Sauna
- Sports Areas
Another desire of today’s luxury realty buyers is a home with a brain. 35% of those surveyed stated that they would like their next home to be a smart home, equipped with innovative amenities. In today’s realty market, technology is changing our view of luxury with forward-thinking amenities to make life both easier and more enjoyable. Some of the smart-home features noted in the findings of the survey include:
- Smart Home Security Systems
- Smart Climate Control Systems
- Voice-Activated Controls for Devices Throughout the Home
- Smart Kitchen Appliances
A New Aristocracy
The new generation of luxury home buyers makes up a New Aristocracy: young adults who have the means to purchase the home or homes of their dreams. Among them, you’ll find yet another segment of the luxury realty buying market who tend to seek the more urban, hip kind of lifestyles in growing entrepreneurial hubs such as Austin, and Ashville.
The term “Nomad Millenial” came from Christie’s International Real Estate’s (CIRE) recently completed study given to understand today’s international luxury real estate buyers. The study revealed and coined the term “Nomad Millennial” in reference to the fact that they prefer to work remotely from their newly acquired luxury properties. Though they may not be the most active in today’s market, they make up a large majority of those investing in luxury real estate today. Nomad Millennials fall between the ages of 22 and 37 and often work in fields such as technology, creative, and startups.
On the Market Today
Even if you don’t fall into the New Aristocracy category or if you aren’t necessarily in the market to purchase international luxury realty, taking in some of the most beautiful homes on the market throughout the world can be inspiring. Take a look at this collection of homes from around the world. Who knows, perhaps you may be in the market after all.
Cerulean Villa – West End, Anguilla
Luxury realty in the Caribbean is incredible to behold. With the gorgeous backdrop of palm trees and white sand beaches stretching for miles, you can find some of the most luxurious homes,
including the Cerulean Villa. This breathtaking beachfront property magnifies the cerulean color of the tropical sky with its magnificent modern white exterior.
The serene atmosphere of the interior design adds to the feeling of relaxation and elegance you feel as you move from one Caribbean-themed room to the next. Lush fabrics adorn the beds, windows, and living room furniture, giving the home an overall sense of island sophistication.
Banyan Tree Residences Riverside Bangkok – Thailand
Boasting views of the Chao Phraya River in Bangkok, Thailand, you find this beautiful luxury realty listing sitting nearly 2,700 feet above the city. With nearly 10-foot ceilings featuring floor-to-ceiling windows, this 3-bedroom apartment delivers a luxurious open and airy design.
Contemporary furniture and light fixtures accent the overall elegance of the clean and crisp design. Marble features grace the walls in several rooms of this luxury realty listing, giving the apartment a sophisticated edge.
52 ‘Dune’ Beachfront Mirage Port Douglas – Queensland, Australia
Across the globe, situated within a relaxed seaside village section of Queensland, you find ‘Dune,’ a calm and tranquil beachfront oasis. The open pavilion design of this luxury realty listing, combined with the Japanese black wood and polished stone floors create a luxuriously peaceful atmosphere.
The modern design of this home, made up of three interconnecting villas, extends outside to the stunning infinity pool, where you can relax on the cushioned lounge chairs while taking in the warm Australia air.
La Garibaldina Costa Smeralda – Sardinia, Italy
La Garibaldina Costa Smeralda is a luxury realty listing found on the glorious island of Sardinia in Italy. This secluded retreat features a rustic contemporary design and is close to white-sand beaches and the quaint little village of San Pantaleo.
The rustic interior design beautifully complements the private, tranquil natural surroundings and features weathered-gray exposed wooden beams and white-washed trim and brick floors. Rounded doorways and light-colored textiles throughout make this international retreat a relaxing and tranquil getaway.
Dorpsstraat 69 – Loenen Aan De Vecht, Netherlands
Dating back to 1735, this historic home in the Netherlands is an excellent example of how contemporary luxury realty can be found in the most unlikely of places. This listing was completely restored and modernized to make it one of the most beautiful contemporary homes in the area.
The rooms throughout the home include period details such as the ornamental, stuccoed ceiling. Floor-to-ceiling neutral-colored curtains adorn the large windows, and sunlight pours through to accent the elegant, contemporary furnishings.