WHAT DEFINES AN ULTRA LUXURY PROPERTY ?
In my experience Ultra Luxury Residential Homes or Ultra Luxury Real Estate share common features within this five areas :
Location , Design & Quality , Size , Amenities & Equipment , Price.
Location: The Ultra Luxury Home has to be situated on an over the top location meaning privileged views of the ocean, lakes, rivers, canals, golf courses , valleys, other landscapes or beautiful city skylines in the case of high rise condominiums.
Its important to point that it has to be a sought after location since hypothetically you can built an Ultra Luxury Residence for near zero of land value in the middle of the dessert , in a low profile or unsafe area that will not get better anytime soon or far from civilization and the top amenities that civilization provides but in this case the residence definitely would have a serious marketability issue if the original owner plans to eventually resell. . Do you think an Ultra Luxury Home built within a bad location would still qualify as Ultra Luxury Real Estate ?
Design and Quality: Many times I have been on fantastic impressive homes on the outside that frankly are exquisite places to live but they remain to be considered only as Luxury Properties because they fall short of providing on the inside, either totally or partially, the attention to detail and expense in order to become the top category.
Ultra Luxury means supreme attention to detail and the finest craftsmanship on the outside and on every single room of the house, not only on the common areas and master bedroom and bathrooms, but on every single room except probably for the employee's quarters. If a property can not keep up with this description definitely its not an Ultra Luxury Property.
Size: Here we are talking about at least of several thousand square feet or several hundred square meters of indoor areas. For example Im my market, South East Florida ( Fort Lauderdale, Boca Raton, Palm Beach or Miami ) Ultra Luxury Homes as a bottom line start at 5 to 6 bedrooms and more baths and in the case of Condominiums at least at 3 to 4 bedrooms and 4 to 5 baths. Add of course plenty of open non air conditioned areas or balconies / terraces in the case of condominiums.
Amenities and Equipment/Technology: Garage space for all the toys, infinity pools, wet rooms, 10 to 20+ people capacity movie theater, sport courts and gyms, game rooms, outside and inside bars or summer kitchens, wine cellars and dozens more of possible amenities are not uncommon on Ultra Luxury Homes.
On the equipment side expect top brands of appliances, central vacuum systems, integrated smart controls that work from your phone and other features.
Price: This would possibly be the most relative of all Ultra Luxury Property characteristics . Different areas or countries have different land prices and cost of building materials and labor, but most likely anywhere you go prices will start from six zeros and up.
In South East Florida my area of expertise ( near ocean locations ) for example most waterfront homes that can be considered Ultra Luxury start near 5 million dollars while the Condominiums will start at 3 million. Again is relative, some superb or really large residential lots with access to the ocean and Intracoastal Canal to dock a mega yacht like the ones you find on The Hillsboro Mile or Millionaires Road ( Hillsboro Beach , an ultra small city approximately between Boca Raton and Fort Lauderdale ) will ask only for the lot between 5 to 10 million dollars or more so do some math an imagine at what level a fully finished home starts.
Can you think of any other characteristic that will truly separate and Ultra Luxury Property from the rest ?