A recent article published on MSN Business Insider turned its attention to the surprising changes in trends on luxury real estate sales and what buyers are currently looking for in luxury properties. The article titled “ A Palm Beach real-estate agent says she’s surprised by the latest request from her multimillionaire clients” highlights these current trends.
Paulette Koch, a local agent in Palm Beach County, was interviewed. In the article, she explains how many of her clients looking for luxury properties are not asking for large sprawling single-family homes. A majority of luxury buyers are searching for smaller properties with more amenities.
These properties though they offer less square footage, still offer high quality and impressive architecture as well as a long list of amenities to make life easier. Buyers who own several properties and/or lead busy lives are searching for properties that are “more manageable, so it’s not akin to running another corporation,” in Koch’s words.
The article goes on to explain how over the past five years the number of upscale rooms offered in extended-stay hotels has increased by 34%. Some people are paying high monthly rents to live in the luxury and convenience of these spaces. They offer such services as dog walking, kitchens completely stocked with quality cookware and dishes right down to the utensils, no commitment health centers, free bike shares, housekeeping, concierge services, and more.
With this growing trend, apartment buildings and condo communities across the country are getting on board. Properties are offering home ownership with a lavish hotel-style of living. Highlighted features at some of these communities include sky parks on the roof of the building with running tracks, green space, and swimming pools. Other buildings are offering al-fresco resident only rooftop dining venues and outdoor movie theaters. Have a sweet furry family member? They too can be well cared for in onsite pet spas.
No matter the current trend or buyer demand, Palm Beach County has always been an unparalleled place to find luxury real estate. If you are looking for a luxury property in the Palm Beach area there is a property for you. From waterfront mansions to quiet private country estates with lots of land, to a simpler condo and condo-like properties that require less owner care and attention. Whatever your lifestyle and preferences this is the place to be.
Are your looking for a luxury home in Palm Beach County? Please contact Palm Beach Coastal Realty anytime, a local realtor highly knowledgeable in all things Palm Beach County.