Luxury property: mansion buyers want bells and whistles

6 months ago admin Comments Off on Luxury property: mansion buyers want bells and whistles

If you have to ask the price you probably can’t afford one, but the uber rich are amping up their requirements for luxury accommodation whether they want to spend $10 million or $250m on an opulent mansion.

The latest housing requirements are at least two kitchens — one commercial — as well as a panic room and basketball courts that transform into ballrooms.

A helipad and ice rink will also not go astray, and proximity to an airport for the private jet and 15-plus car garages are frequent ­requests.

“This year we have seen ice-hockey rinks with Zambonis (ice resurfacers) and warming areas, a BMX pump course, and an irrigated regulation soccer field,” Christie’s International Luxury Refined report says.

“One noteworthy home had a slide directly from the master suite to the backyard pool.

“While indoor basketball courts have been a staple of luxury homes for some time, there is one in Portland (in the US state of Oregon) that comes with an ingenious twist; it transforms into a formal ballroom, complete with chandeliers and sound systems for grand-scale entertaining.”

For the first time the world’s 10 most expensive reported residential real estate sales each exceeded $US100m ($133m) last year, with the top sale registering in Hong Kong for $US270m. But a new benchmark may also be looming, Christie’s International says.

“In the South of France, persistent rumours suggest one palatial estate comes with a €1 billion ($1.5bn) price tag.”

But the definition of luxury mansions differs. Luxury can be defined as less than $US1m in Costa Rica, while they start at $US10m-plus in Monaco, one of the world’s most expensive destinations.

Christie’s International says the average $US1m house will include two to five bedrooms, will be located in a smaller city or suburban area, and will include an upgraded kitchen or bathroom and possibly views.

While $US1m will buy a one-bedroom apartment in Cannes in the South of France with a sea view over Croisette Palm Beach, or a single level three-bedroom home in Kaiteriteri on New Zealand’s South Island, in Cape Town, South Africa, $US1m will buy an 11-bedroom single-level seaside family home with False Bay views.

And $US5m buys much more including three to six-bedroom apartments or townhouses in prime urban areas or jetset resort markets. For instance $US5m buys a two-bedroom apartment in New York, or a 10-bedroom Renaissance estate in Cognac, France.

A price tag of $US10m buys four to eight bedrooms with at least two of these features adored by the spankingly rich: upgraded kitchen and or bathroom in a mid to top-tier location with panoramic views and proximity to lifestyle offerings.

It buys a 20-bedroom historical country estate with “royal allure” in the Netherlands’ north, or a three-bedroom beachfront home in Makena, Hawaii fronting Secret Beach.

Homes valued at $US50m or more include five to 15 bedrooms, ultra-premium bathrooms and kitchens, up to four parking spaces in an apartment and 10-car garages in a house, a wine cellar and staff accommodation.

When you hit the $US100m realm buyers can expect 10-20 bedrooms with multiple kitchens, unparalleled views and panic rooms as well as unique amenities tailored to the individual owner. And $US100m buys a 24-bedroom property in Marrakech, Morocco or a 17-bedroom mansion in Los Angeles.

More than 10 bedrooms is expected if a home has a price tag of $US250m. “Properties offered at a quarter of a billion dollars or more are a showcase for the world’s most unique and beautiful home amenities,” Christie’s International says.

The properties will include art gallery spaces, unparalleled views, hi-tech and enhanced security including panic rooms. There will be parking for more than 15 cars, helipads and top-quality sporting or leisure facilities.

Homes in this category are on the market in Los Angeles including a newly constructed 12-bedroom house with rooftop helipad. In France, agent Michael Zingraf is selling a 10-bedroom mansion on the Cote d’Azur.

But as Christie’s International notes, while luxury properties priced at $US20m and above continue to capture headlines, the number of ultra-luxury homes that are actually on the market is quite small.

“In fact, there are only around 1500 residences publicly available for sale over $US20m worldwide and 34 above $100m.

“Many of these homes are clustered in select geographies, with Hong Kong home to the most listings priced at $20m and above.”

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