Many countries have weathered the global economic downturn well, with their real estate markets expected to remain productive in the upmarket and luxury end of the marketplace. A considerable amount of properties continue to fetch multi-million dollar sales. Increasing demand for luxury real estate in these countries is fuelling demand for homes which follow the latest trends in contemporary house styles Mdern Luxury.
Upmarket homes are the first to adapt to the latest trends in design, as well as provide leading edge features and facilities. New technologies and materials are redefining the construction of buildings from the supply side, where consumer choice for more luxurious interior and exterior designs; as well as structural and design adaptations to accommodate the changing patterns of modern life, are driving these trends from the demand side. For many in the market for luxury accommodation, one of the driving motivations for the purchase of such real estate is the need to create a unique living experience.
Outdoor living areas, whether as a separate area from the house or an extension of the formal dining areas, are proving to be an essential component of the modern luxury homes. The use of expansive windows which open up to extended outdoor and patio areas are proving extremely popular for entertaining in the home environment. The introduction of the latest in technology into the home is an additional trend, including computer systems that automate the operation of the property, including security, entertainment, electronics and even the boiling of hot water for the morning coffee.
The use of natural materials in the building and construction of luxury properties has expanded rapidly, with the use of real wood and stone becoming a preferred material. By utilising higher quality inputs in the homes construction, the initial and long term value of the property will also be increased. With luxury homes affording more floor space than the traditional property in many countries, there are further tendencies to expand the areas of the ‘his and her’ areas of the home; with ‘man-caves’ becoming a popular place where the males can retreat and watch movies, have a beer and entertain. Increasing female specific areas, including large walk-in wardrobes, separate lounges, offices and bathrooms are also becoming the norm.