What’s hot in the luxury home market

Tuscan is definitely out, and clean, contemporary architecture is in, while today’s exacting buyers of luxury homes also want less marble and ceramic tile, and more timber and masonry.
So says Lew Geffen, chairman of Sotheby’s International Realty in SA, who notes: “Whatever the news about the real estate sector, there is always interest in the luxury home market - and curiosity about the changing preferences of big ticket buyers. And currently, they definitely prefer the subtle and refined look to obvious opulence, and are turning their backs on fussy detailing in favour of simple, more modern designs.”
This does not mean, however, that they want less luxury. “If anything, actually, they want more upmarket features than before, just packaged differently,” he says.
Must-have features of course include round-the-clock security, upscale kitchens with high-end appliances, and expansive, double-volume living areas. “But what we are also seeing now is an insistence on smart electronics and ‘wired’ homes. Big ticket buyers expect everything from the fountain and the irrigation system to the curtains, music, heating and lighting to be automated, and both broadband and satellite Internet connections are considered essential.”
As for entertainment amenities, Geffen says, a home cinema is now almost standard in luxury homes, along with a wine cool-room or cellar, although a few new items have been added to the wishlists for outdoor entertaining, including ice-bars and barbeque islands.
Indoors, the newest trends include larger bedrooms for children, all ensuite, as well as media or games rooms and timber flooring. “However, hardly anyone wants a hot-tub or spa anymore, as they require too much maintenance for the amount of use they get.”
Outdoors, gardens are much more sleek than previously, often consisting only of decking, grass and specimen trees, he says. At least four garages are considered essential and most buyers also want a large enough area to provide off-street parking for several guests.
“But there is one factor,” notes Geffen, “that never goes in or out of fashion in the luxury home market, and that is location. Whether this is an upmarket suburb, an exclusive estate or on the beachfront, the ‘feature’ that inevitably swings the deal for big ticket buyers is a location that perfectly matches their ideas of the lifestyle they want to cultivate, the type of neighbours they would like and the amount of privacy they desire.”

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 19 Feb 2018
      Situated approximately halfway between Johannesburg and Pretoria, Midrand was established in 1981 and forms part of the City of Johannesburg Metropolitan Municipality. It has become one of the major business hubs in the country with major pharmaceutical, textile, telecommunication and motoring giants situated within its boundaries.
    • 19 Feb 2018
      The PayProp Rental Index Annual Review of 2017 shows that the rental market suffered from much volatility during the year. It kicked off with rental growth spiking in January with weighted year-on-year growth (YoY) growth peaking at 8.3% before dropping to 6.34% in July, dipping down to less than 5% in November and then experiencing a slight uptick at 5.75% in December.
    • 19 Feb 2018
      While most homes in cluster complexes, estates and other gated communities come with at least one garage or carport, residents would often like additional permanent parking or storage areas for things like trailers, bikes, boats and caravans.
    • 16 Feb 2018
      Whether you own a property in a sectional title complex or are looking to invest in one, the financial standing of the body corporate is the single most important thing that can affect your investment or your buying decision.
    • 15 Feb 2018
      One positive consequence of the financial crash in 2008 was the rise in consumerism, especially in the property market, where buyers have steadily become more knowledgeable and more value conscious.
    • 15 Feb 2018
      While most homeowners will take the agent’s commission into consideration when they are trying to determine what the will get out from the sale of their property, many often forget to factor in the other costs involved in a home sale, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 14 Feb 2018
      The forecast for the national rental market in 2018 remains a mixed bag of good news and bad news. Although rentals are expected to rise slowly as the challenges of home affordability and tighter lending criteria tighten their grip, it’s a double-edged sword as the market also will come under increasing pressure from factors like declining disposable income levels.
    • 14 Feb 2018
      While you may not have intended to place your home on the market, what do you do if you receive an unexpected offer on your home? In areas where demand outweighs the current supply of homes available to buyers, it is not unheard of to have buyers make offers on homes that aren’t on the market, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us