One of the things I love most about my work is that the ultra-luxury real estate landscape is forever shifting and evolving. Indeed, staying abreast of the latest sector trends represents a crucial part of my role as AHS Properties’ CEO.
That said, some things never change. One such constant is that when it comes to high-end real estate, only the very best will do. It is not uncommon for high-net-worth individuals (HNWIs) to spend tens of millions of dollars on a single property, so it is perfectly understandable for them to have exacting standards.
The need to continuously raise the ultra-luxury benchmark can also have positive long-term effects on other market segments. Just as electricity and hot running water were once considered the height of decadence, many of today’s premium property features may become commonplace in the future.
Here are five ultra-luxury real estate trends with the potential to go mainstream.
Smart homes
A range of basic smart home devices are already accessible to large numbers of homeowners. This is a prime example of a trend which originated in the premium property space before expanding to other segments.
Today, the priority within ultra-luxury real estate is for cutting-edge technologies to be seamlessly integrated with a property’s design and architecture – a focus that I expect to shift to other markets in the future.
The scale and scope of such technologies have grown enormously in recent years, encompassing everything from smart mirrors to interactive surfaces and immersive entertainment systems. These are bound to become more widespread as cost efficiencies and economies of scale come into play.
Eco-conscious features
Green building techniques and design choices now represent the norm within the ultra-luxury real estate market, as HNWI buyers demand homes that offer opulence without negatively impacting the environment.
At present, cost is the primary barrier to adoption when it comes to sustainability, meaning the most environmentally responsible innovations are often limited to luxury homebuyers. Options such as eco-conscious materials, energy-efficient design features and automation are – relatively speaking – still in their infancy, which is why those who wish to incorporate these elements within their properties must be willing and able to pay a premium.
Nevertheless, such innovations are bound to become more inexpensive over time, and I find it encouraging to think that the examples of eco-conscious construction and design we are currently witnessing in the ultra-luxury space have the potential to become mainstream over the longer term.
Advanced security and privacy
Security and privacy have been of great importance within the ultra-luxury real estate segment for many years. When someone is investing millions of dollars in a property, the least they expect is to feel comfortable and safe in their home.
Indeed, we’ve seen peace of mind become a key selling point for HNWI buyers in prime markets like London, with concierge security, state-of-the-art CCTV, biometrics, and – again – smart home technologies all becoming non-negotiables. I believe that with the growing affordability of related innovations, increasing numbers of homeowners in other price ranges will also look to incorporate these elements within their properties.
Health-focused amenities
Wellness features such as fitness centres, spa and sauna areas, and meditation zones have long been staples among ultra-luxury homebuyers. In recent years – particularly in the wake of the Covid-19 pandemic – we have seen a growing trend towards the inclusion of additional niche features, including in-house medical facilities, advanced air filtration systems and other health-focused amenities.
While I am not suggesting that every home in the future will have its own cryogenic chamber, we are likely to see a broader market shift towards more health-conscious construction and design choices with the potential to mitigate the effects of – or even prevent – future pandemics.
Personalisation
One trend that characterises the ultra-luxury segment above all else is the ability to customise every aspect of a property to make it truly the buyer’s own.
For me, personalisation permeates every element of the premium homebuying experience, as HNWIs look to tailor each feature of their property to suit their specific requirements. Need a hyperbaric chamber as well as a spa, sauna and meditation space? No problem. Want to add the latest biometric identification system to your front gates? Of course. Would you like AI to automate heating and cooling in each room of your house based on individual family members’ preferences? We can do that.
Technologies such as additive manufacturing are enhancing our ability to produce interoperable construction components, which will, in turn, provide opportunities to develop bespoke properties from standardised ‘building blocks’. So, while the level of specificity prevalent in the ultra-luxury space may never fully expand to other market segments, I do think the ability to tailor a home’s features – from its layout down to its surface finishes – will proliferate during the coming years.
Predicting future trends is a challenge in any sector, and real estate is no exception. Nevertheless, based on my experience and the market’s current trajectory, I’m quietly confident that some, if not all, of my forecasts will hold up to scrutiny over the long term.
For me, it would be more surprising – and a real shame – if AI-controlled, eco-conscious smart homes tailored to occupants’ specific needs didn’t become mainstream. In the meantime, my team and I at AHS Properties will remain focused on exceeding the expectations of ultra-luxury homebuyers and anticipating their future requirements.
