Luxury Real Estate

Luxury real estate / realty  (or luxury property in England) may be defined as the real estate market niche targeted at the highest socio-economic group of consumers.

Two years ago Ray White Real Estate decided to change its starting point of a "luxury" home in Sydney to anything $1.5 million or over.

But with prices still rising in the luxury market, the definition keeps changing – with possibly a leap to $2 million for next year, which is what Ray White is now using as a definition for a luxury home in the much pricier Lower North Shore market, up from $1.5 million last year.

"What qualifies as a luxury property continues to go up," said Bruce Gow, of BestRealestate.com.au in a recent interview.

"It really amazes me that we have so many luxury buyers out there, and the challenge is finding product."

Definition
The characteristics that define Luxury real estate differ among countries. However, location largely defines the property's value, especially with respect to whether it offers views (particularly, waterfront ones) or amenities such as proximity to golf courses, school districts, and the downtown district. Thus, a 750-square-foot (70 m2) waterfront home with less than 1-acre (4,000 m2) of property might be worth more than a 10,000-square-foot (930 m2) mansion with 10 acres (40,000 m2) of property.

In the previous example, the former would be called a "luxury property", whereas the latter would be called a "luxury home". Both properties, however, owing to their high value, would be classified as "luxury real estate".

Luxury real estate in any particular region is generally defined as property worth more than a certain lower limit; for instance, homes worth more than $1 million in the United States are generally classified as Luxury real estate. The classification also takes into account the presence of surrounding homes, amenities, views, waterfronts, absence of crime-rate, industrialization or unwanted commercialization, customizations of the home, and historical or architectural significance.

Differences from ordinary real estate
Luxury real estate entails greater responsibility for agents who handle transactions than ordinary real estate. They must advertise to a national audience to attract non-local buyers, whereas ordinary real estate only generally requires exposure in local media. There are also greater legal responsibilities for the luxury estate agent, which often involve attornies, trusts, and anonymity issues. Buyers often require more inspections than with ordinary real estate (which are generally bought after a single inspection).

Sotheby's International Realty® http://www.sothebysrealty.com
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby's International Realty® network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world.

In February 2004, Realogy Corporation (then Cendant Corporation), the world's leading real estate brokerage franchisor, entered into a long-term strategic alliance with Sotheby's Holdings, Inc. (LSE: STBA).

The agreement provided for the licensing of the Sotheby's International Realty® name and the development of a full franchise system by Sotheby's International Realty Affiliates LLC., a subsidiary of Realogy Corporation.

Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby's International Realty® Affiliates LLC. supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable, 260-year-old Sotheby's auction house.

Central Park Apartments - Fabulous luxury apartments on New York's Central Park.

Southhampton Homes - Exquisite, luxury homes for sale in Southhampton, N.Y.

Coastal Maine Real Estate - Extraordinary waterfront homes for sale in Southern Maine, Proutts Neck, Kennebunkport, Ogunquit.

Georgetown Real Estate - Fine Georgetown D.C. real estate for sale. 18th & 19th century Georgetown homes.

La Jolla Luxury Homes - Superb La Jolla homes for sale on the Pacific Ocean.

Naples Fine Homes - The finest in luxury Naples, Florida real estate.

Palm Beach County Luxury Homes - Outstanding Palm Beach County luxury homes in Palm Beach, Jupiter, West Palm, Palm Beach Shores, Juno Beach, North Palm Beach & Tequesta.

Luxury real estate magazines
Companies operating in the luxury real estate market often publish their own magazines online and in print, meant to publicize their brands.
Examples include Panache Magazine, published in New York by luxury real estate broker Panache Privée, and Previews magazine, published by Coldwell Banker.

30 Luxury Homes is the leader for quality interior and exterior luxury design ideas. The publication reflects the freshness of design from quality new-world architects and interior designers. It showcase's opulence in Australia's finest homes.

Luxury Homes Magazine
A luxury homes magazine that celebrates excellence in design and craftsmanship from some of the country's finest architects, interior designers and builders. 30 Luxury Homes Magazine featuring quality interior and exterior luxury design ideas, the publication showcases decorative elements from sumptuous furnishings and elegant fabrics to artistic finishes and the highest quality fittings. Enjoy the opulence of Australia’s finest homes.

Location Address:
Unit 5, 6-8 Byfield St
NORTH RYDE
SYDNEY, NSW 2113
AUSTRALIA
Phone: +61 (02) 9887 0339
Fax: +61 (02) 9805 0714

Planning to buy Luxury Real Estate?

Are you, a family member or a friend intending to settle or buy Eastern Suburbs Real Estate in Sydney? See our article menu on the home page or email me for more information at
bruce@bestrealestate.com.au

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Eastern Suburbs Real Estate Post Codes

Eastern Suburbs Luxury Real Estate found in NSW

Alexandria
Banksmeadow
Beaconsfield
Bellevue Hill
Ben Buckler
Bondi
Bondi Beach
Bondi Junction
Bondi Junction Plaza
Botany
Broadway
Bronte
Centennial Park
Charing Cross
Chifley
Chippendale
Clovelly
Clovelly West
Coogee
Daceyville
Darling Harbour
Darling Island
Darling Point
Darlinghurst
Darlington
Dawes Point
Diamond Bay
Double Bay
Dover Heights
Eastgardens
Eastlakes
Edgecliff
Elizabeth Bay
Eveleigh
Golden Grove
Haymarket
Hillsdale
Kensington
Kings Cross
Kingsford
La Perouse
Little Bay
Malabar
Maroubra
Maroubra South
Mascot
Matraville
Millers Point
Moore Park
North Bondi
Paddington
Pagewood
Parliament House
Phillip Bay
Point Piper
Port Botany
Potts Point
Pyrmont
Queens Park
Randwick
Redfern
Rose Bay
Rose Bay North
Rosebery
Rushcutters Bay
South Coogee
St Pauls
Surry Hills
Sydney
Sydney South
Tamarama
Taylor Square
The Rocks
Ultimo
Vaucluse
Waterloo
Watsons Bay
Waverley
Woollahra
Woolloomooloo
Zetland