How do we distinguish authentic luxury in real estate?
The definition of a luxury, premium, or prestigious residence is exceedingly subjective. What are the tangible, inescapable characteristics of a luxury property?
As an expert in the development and construction of luxury real estate, Rising Stone presents the different facets and definitions of premium property.
Definitions of luxury real estate
The historical definition of luxury property: living spaces as works of art
For many years, the two determining factors were the exclusive address of a property and the choice of an architect renowned in high society.
Even today, the influence of a luxury architect such as Peter Marino will have a major impact on the design of the building (choice of room exposure, quality materials, impeccable finishes) and on the perception of the space as a work of art to be lived in.
Current criteria for defining a luxury residence
In the discreet real estate market of prestigious residences, the criteria used to define a home as luxurious or premium are as follows:
- Living comforts, with a home perfectly adapted to the aspirations and lifestyles of those occupying it.
- A feeling of space that extends as far as the eye can see, with a focus on opening up rooms onto the horizon
- A sense of absolute intimacy and privacy thanks to flawless soundproofing, bay windows that are never overlooked, a perfectly secure Wi-Fi network, and a 24/7 video surveillance system ensuring a paparazzi-proof, private place of refuge.
- High-quality fittings and services, with kitchens and bathrooms in which every single detail has been thought out and optimized for ultimate enjoyment.
- Perfect finishes, driven by exceptional craftsmanship and a choice of the finest materials best suited to the local climate and each room.
- A green and/or water space, such as a garden designed for strolling around, a spa, or a private swimming pool, so that everyone can enjoy their own oasis of calm and piece of nature – even at home.
- The presence, and often abundance, of works of art, with particular attention also paid to the selection of everyday objects such as tableware, lighting, vases, and fixtures.
- One or more rooms devoted to leisure activities, such as a music room, a home cinema, a gym, or a tennis court, depending on the owner’s interests.
Premium properties, the search for perfection
In a nutshell, a luxurious living environment can be defined using different criteria, but what really sets it apart is its flawless design. In these extraordinary spaces, nothing is left to chance. Everything is designed for the pleasure, comfort, and enjoyment of those living there.
A demand for exclusivity and uniqueness reflected in real estate valuation
Internationally, the luxury real estate market defines luxury properties as homes (houses, apartments, chalets, villas, private mansions, country manors, etc.) with a sale price above 1 million euros. However, this criterion should only be considered when viewing less exclusive destinations, where land is expensive even for conventional housing.
Not all luxury markets are created equal.
In Los Angeles, for example, developers and realtors define luxury homes as those sold for over $5 million with garden, parking, and a private driveway.
On the Côte d’Azur, such as in Nice, buildings in need of renovation and luxury apartments cost around 3 million euros. Yet the best-located villas with swimming pools and the most beautiful ready-to-move country houses are valued at between 5 and 10 million euros.
In Courchevel, Megève, and Méribel, luxury chalets sell for more than 5 million euros, but the ultra-luxury real estate market features prestigious residences in excess of 10 million euros. Premium apartments are more affordable, with new residences combining comfort and privacy starting at 3 million euros.
Luxury real estate by Rising Stone
The essence of a Rising Stone design is rooted in timeless aesthetics, excellence in both the visible and invisible finishing touches, and longevity.
In its relentless pursuit of excellence, Rising Stone selects the most exclusive locations, the most talented craftsmen, and the finest materials. This uncompromising quality of construction culminates in properties in which sophistication combines effortlessly with authentic French art de vivre.