Luxury properties aren't what they used to be. If a decade ago the curved stairs, the massive chandelier and the grand piano in the living room defined the house as luxurious, today there are many other signs and factors that interest the owners. In the market, buyers have an increasing influence, and sellers comply with their requirements in order to succeed in realizing their property.
Trends in furniture and luxury properties in general are constantly changing. What is fashionable today may be outdated a year from now. In Bulgaria designs and styles entered later, which in Europe have long been a fact and have established as a mark of the refined home. However, there are things that remain timeless and characterize the world of luxury real estate. What are the new trends according to data from customer surveys, Unique Estates shares with you.
In these unstable times of dynamic changes and challenges, we are increasingly convinced that property remains the most stable investment of savings. Many people choose to invest in real estate to provide peace of mind for the future – for themselves, and possibly for at least one more generation to come. A luxury property is no longer a privilege only for a select few – there are many different types of loans granted by banking institutions or specialized companies that make the dream possible and the path to it more accessible. Property is not just an impulse purchase – it is something well thought out and desired that you do a few times in your life, and some only once. Unlike other things, material and physical possessions, real estate will not decrease in value over time, but on the contrary - will increase, sometimes double. Therefore, even if you do not choose your next home to live in it, but to sell it more profitably or rent it out and have a secure additional income - in both cases, your decision will be fully justified! And those fortune enough to own more than one home are truly lucky – a modern apartment in the city and a spacious cottage in the countryside for moments of escape and relaxation – what could be better? So when it comes to luxury real estate, we have only one question: Why not?
Location, location, location... If it's not the most important thing, it's certainly in the TOP 3! It is essential where the property you are buying or renting is located. Many communications are important in our daily life that make our life easier. Just some of the mandatory places nearby are a supermarket, a pharmacy or a bank. For those with children, playgrounds, gardens and schools are highly desirable. The availability of public transport is also not to be neglected, and for those who travel by car - a gas station and a car wash will not be superfluous. It's certainly a big plus to have somewhere to grab a Sunday morning coffee and drink it while walking in a nearby park. And why not check out new outfits in the mall? All of these places are highly recommended and make location almost paramount when choosing a property.
Regardless of whether you are moving into an already completed building, or you have bought an apartment where the project is yet to be realized, the quality of construction ranks among the main trends in the world of luxury real estate. A proven investor and reliable executions of the facade, common areas and architecture are among the signs that the construction is solid and the property is expected to be finished to a high standard. If you are going to live in a furnished home, you can always inquire about the origin of the furniture, the materials used, the insulation and more. Do not ignore this information and demand detailed data and proof of construction quality.
Even if the property is large, if the premises in it are not functionally distributed, you will not be able to make the most of the advantages that it would otherwise have offered. The architectural plan is as important as the subsequent furnishing of the house or apartment. Some people trust a professional interior designer, while others choose to let their imagination run wild on their own. Every detail is important – from the direction in which the kitchen window will open so that it does not interfere with the refrigerator, to the place for the charger and books on your bedside table. Think carefully about everything - the place for shoes, your bag and keys in the hall, crossing the threshold; the space for the stove and other appliances; the location of the air conditioner and the TV so that they are comfortable for you and your guests; the light that will enter Her Majesty The Bedroom; the possibility of simple furniture with a table and chairs on the terrace, a separate corner for your child or pet. Even leave a place that you can use later and for which you have not yet found a suitable purpose. You may decide that you actually like and need minimalism and free space that isn't cluttered with furniture and accessories. The right arrangement can make both the small studio fully sufficient and the large house well-furnished with enough space without being cluttered. The functional layout will do wonders and make you feel the comfort and warmth of your home every day.
Europe is facing strong inflation and rising interest rates. However, the impact on the luxury property market is weaker. It is traditionally more resistant to political and economic shocks than other segments of the housing market. Buyers maintain a strong presence and want to invest their funds more in real estate, while sellers and investors have an interest in continuing to build new projects to realize. After the pandemic, the way people live, work and have fun has also changed radically. A large part of them focused on buying a second home, where they can spend their weekends and vacations. And why not live permanently if it is located near the big city and does not interfere with their work? As a result, the demand for luxury properties is on the rise everywhere. Drastic changes in prices are unlikely, because this will repel some of the players in the market. The factors that define a property as luxury are already known and the prices vary in approximately the same range, depending on the characteristics of the home.
Trends in luxury real estate are increasingly linked to advances in digitalization and artificial intelligence. There are a number of smart solutions, technologies and systems with which a property can be labeled as a "smart home", such as controlling lighting, temperature, video surveillance, commands that replace human presence in the yard or garage. Contemporary style in furniture continues to lead the ranking, but everyone's taste is different and the attitude here is subjective. One thing's for sure, luxury home trends are always a good guide for those who need help in real estate. For all of them, the Unique Estates team is here to support!