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Perspective
14/02/2017
In addition to practical considerations, buyers — and those hoping to sell to them — must weigh the emotional factors that could sway a decision.
Like the experience of buying luxury goods, the process of investing in real estate is decidedly influenced by the buyer’s emotions. While practical elements — like proximity to an office space or to family — have long been regarded as necessary to recognize, emotional factors are having their moment at the forefront of considerations.
In its study of the 2017 luxury housing market, high-end real estate firm Barnes International, in collaboration with Wealth-X and Warburg, interprets the role of sentiments in the industry. And, while elements like style and design, quality of construction, and size certainly have their place on the axis, other factors prove even more influential.
Size is especially relevant in purchases taking place in the world’s biggest and most crowded cities, and views from the property have also become increasingly significant. And above all, property provenance and 'exclusive neighborhood style and architectural heritage' are indispensable when hoping to attract wealthy international buyers. Ultimately, a marriage of the three details is what lies at the core of the world’s most coveted properties.
In short: 'No one chooses to spend millions on a home they don’t love,' says the study. And, much like in romantic love, both the head and the heart have their respective value, with the latter largely dictating the success of the pair.
Read this article in its integrality by clicking on the following link:
http://wealthx.com/articles/20...
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