World Library  
Flag as Inappropriate
Email this Article

Luxury real estate

Article Id: WHEBN0002947589
Reproduction Date:

Title: Luxury real estate  
Author: World Heritage Encyclopedia
Language: English
Subject: Real estate, Niche real estate, Arthur Rutenberg Homes, Raffles Hotels & Resorts, McMansion
Collection: Luxury Real Estate, Real Estate
Publisher: World Heritage Encyclopedia

Luxury real estate

Luxury real estate (or luxury property in British English) is the real estate market niche targeted to high-net-worth individuals. These individuals tend to own multiple homes in numerous locations across the world.


  • Definition 1
  • Differences from ordinary real estate 2
  • Luxury real estate magazines 3
  • See also 4
  • References 5


The characteristics that define luxury real estate differ among countries.[1] However, the 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.[2] 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.

Luxury real estate is often defined as real property that has an appraised value of over $1 million in the United States, yet this varies greatly depending on the location. 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.[3] They must advertise to a national audience to attract non-local buyers, whereas ordinary real estate only generally requires exposure in local media.[3] There are also greater legal responsibilities for the luxury estate agent, which often involve attorneys, trusts, and anonymity issues. Buyers often require more inspections than with ordinary real estate (which are generally bought after a single inspection).

Luxury real estate magazines

Companies operating in the luxury real estate market often publish their own magazines online and in print in order to publicize their brands. Examples include Reside published by Sotheby's International Realty, Christie's Great Estates published by Christie's International Real Estate,[4] and Previews published by Coldwell Banker. The Robb Report is a lifestyle magazine featuring many products, including real estate, but is not a captive of a real estate agency.

See also


  1. ^ Brennan, Morgan (March 22, 2013). "The World's Most Expensive Cities For Luxury Real Estate". Forbes. Retrieved 2013-06-25. 
  2. ^ Goldsborough, Bob (June 20, 2013). "Elite Street: Former weather forecaster Mark Bishop sells Bourbonnais home". Chicago Tribune. Retrieved 2013-06-25. 
  3. ^ a b "Global luxury real estate market showing ‘strong momentum’". Inman News. March 11, 2013. Retrieved 2013-06-25. 
  4. ^ Kime, Susan (June 4, 2013). "A New Trend in Passion Investment: Vineyards By Christie's International Real Estate". Retrieved 2013-06-25. 
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.

Copyright © World Library Foundation. All rights reserved. eBooks from Hawaii eBook Library are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.