Variety is the spice of life. It’s an adage well-known to affluent investors, according to a new study by industry analyst Wealth-X and global brokerage Sotheby’s International Realty. In addition to coining the unusual moniker “multi-homers,” the joint venture’s latest report discovered that high-net-worth individuals pursue “non-traditional” luxury properties when buying beyond their primary residence.
Wealth-X has identified more than 211,000 ultra high net worth (UHNW) individuals globally with a net worth of more than US$30 million. This report reveals that within this group, buyers are increasingly seeking non-traditional luxury homes outside their domiciles – residences that are environmentally sustainable, technologically sophisticated, or that fit better with their personal and family needs. This report highlights four types of luxury real estate that serve the needs, aspirations, and lifestyle considerations of the global ultra wealthy: green homes, smart homes, private island homes, and serviced apartments. These home types have emerged to be favoured residences among the global ultra wealthy.
You can find the full report here, but first, have a look at four examples, currently available on Mansion Global, of the non-traditional property types identified by Wealth-X and Sotheby’s.
GREEN HOME
LOCATION: Cape Town, South Africa
Price: About $7 million
Bedrooms: 6
Bathrooms: 7 (7 Full)
Size: 11,647 square feet This modern mansion makes the most of what the environment has to offer. In addition to unobstructed views of the Atlantic and South Africa’s natural landmarks Lion’s Head and the Twelve Apostles, the property incorporates the conservation of rainwater and solar heating. View the full listing
SMART HOME
Location: Netanya, Israel
Price: About $5.6 million
Bedrooms: 5
Bathrooms: 5.5 (5 Full, 1 Partial)
Size: 6,456 square feet Sleek, stylish and state of the art, this penthouse property features a fleet of modern amenities to facilitate ‘smart’ living. That and a glass elevator that delivers you directly from living room to outdoor pool. View the full listing
PRIVATE ISLAND HOME
Location: Key Largo, Fla.
Price: $110 million
Bedrooms: 3
Bathrooms: 3.5
Size: 5,000 square feet (26 acre lot) Behold Pumpkin Key, an island to call your own. Featuring lush landscape with numerous development opportunities, this expansive property, located a short helicopter ride from South Beach, offers “privacy without isolation.” View full listing
SERVICED APARTMENT
Location: New York City
Price: $2.75 million
Bedrooms: 2
Bathrooms: 2.5
Size: 2,400 square feet The city never sleeps and neither does the service at this Midtown East apartment. In addition to East River and Manhattan skyline views, the property includes 24-hour security guards, 24-hour valet garage and “first-class luxury service from a well trained staff.” View full listing