The concept of luxury homes is inherently related to style, chic, elegance and sophistication. As such, there is no fixed definition to it. Almost every single individual will invariably come up with a unique description for the subject, on any given occasion. In fact the size of such buildings may vary from being a modest house to a sprawling villa. Similarly, it is the sole prerogative of an individual, (read the owner) to decide the array of luxuries and amenities that are to be included into such a building. It is just like more the quantity of honey one adds up, sweeter the taste becomes!
In fact, we all have seen different variations of lavish homes in movies, as well as we have read about in stories. Interestingly, the concept of such opulent homes existed since the historic times. Set of features that are included into any luxury residential building reflects personal taste and temperament of an individual who owns the property.
Most commonly, a luxury residential property should provide adequate privacy to its residents, in addition to a host of chic amenities. Interestingly, there is another common factor that helps identifying these chic residential properties and that is their price. Most extravagant residential buildings cost a fortune, if not more. However, prices may vary – for such properties – to great extents. For example, a penthouse that spreads across three floors at City Spire, is worth US$100 million. On the other hand, another prime residential property within its vicinity is quoted at US$ 150 million.
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Interestingly, actual price that is transacted during change of ownership for such properties hardly gets revealed. Actual sum of money that undergoes change of hands in such deals, invariably, remains confined among the owners and a handful of their closest acquaintances.
A global research, conducted as recently as in late 2013, confirms superrich people across the world still consider real estate as the most significant asset. One of the renowned real estate agents, Christie’s International Real Estate has estimated superrich people invest 20 per cent of their assets in the real estate. However, this is in addition to the valuation of one’s residence. The reason behind this being, the assets can be liquidated easily at times of need. In fact, objects of art rank pretty close to real estate for the aforementioned community. Both these are much preferred domains of financial investment, especially in the contemporary times.
