When a unique edifice is filled with charm and character, owners often define it as luxury real estate. In the high-class society, every member has their viewpoint of such properties. For instance – some are looking for top-class modern amenities that simplify life.
Others find the surrounding location to be the luxury factor. In general, luxury real estate is priced in the top 5% to 10% of the properties in the local market. However, a luxurious property is like arat, having factors other than its cost that make it stand out.
Whether your idea of luxury real estate is a rich history, world-famous previous owners, or isolated environs, tahe below-mentioned locations are ideal spots. In this article, we will discuss the top locations the Western world has to offer for luxury real estate buyers.
Tuscany, Italy
Discerning real estate investors often have a keen eye on the vineyard-clad region of Tuscany in Italy. Of all the cities, Tuscany’s Arezzo is the hotspot of the wealthy as it sits beautifully atop a hill and lies at a crossroads of four valleys.
The price of real estate in this region is consistently growing each year. The glossy vacation villas in shades of olive green, rust orange, yellow ochre, and dark apricot with classic gold and black planters are a personal favorite of buyers.
Besides the stunning architecture of Tuscany’s villas, the region itself enjoys a rich cultural heritage. It also offers a diverse range of landscapes in the form of historic cities and a mesmerizing coastline. Most non-Italians would consider the location nothing short of a daily adventure.
Let’s not forget the lip-smacking cuisine and one-of-a-kind options for wine this place has to offer. For every connoisseur of life’s finer things, there’s no need to look further than Italy’s Tuscany for luxury real estate.
San Jose del Cabo, Mexico
Are you a paradise seeker? If yes, then your search for a luxury property can conveniently end with Mexico’s San Jose del Cabo. Most tourists feel tempted to invest in luxury real estate in Cabo for the city’s breathtaking views and laid-back culture.
According to Del Mar Los Cabos, life in San Jose del Cabo is all about peaceful tides, gorgeous beaches, fun activities, and an endless saga of sunbathing. It is considered to be among the most beautiful cities in the world and is perfect for lovers of life.
If you want to enjoy life without any distractions with only a vast glistening coastline in sight, purchase a luxury villa in one of San Jose del Cabo’s elite neighborhoods. Besides living a life of endless adventure, residents get to experience a diverse cuisine and family-oriented community.
In other words, the city is ideal for single living as well as for raising healthy families.
London, England
If your definition of luxury real estate is an extravagant-looking property that has royalty written all over it, look no further than England’s Big Smoke. Even from the investment viewpoint, London’s properties promise a solid ROI.
This is primarily because the city’s real estate market is steadily growing. Moreover, most luxury properties across London offer a personal slice of nature. Imagine getting to enjoy a relaxing stroll along your private Hyde Park-like green space after a busy day.
To spice things up more, you can install an infinity pool or a summer house. The city’s ambiance is also a reason residents love it so much. This includes its art, food, music, and culture. The unique architecture borrowed from the French and Scandinavians is a sight unlike any other. The concept was to design a ‘city within a city.’
If you’re a foreign investor, the attractive tax system and equal payment processing are two additional reasons why London is a good choice for luxury real estate.
Toronto, Canada
Canada’s Toronto boasts numerous coveted enclaves for wealthy investors. In 2024, the city’s real estate prices are expected to soar. So, it is a good choice from a long-term investment perspective.
Among the most noteworthy neighborhoods of the city include Forest Hill South, Rosedale-Moore Park, Casa Loma, and Lawrence Park South. Toronto also has a reasonable number of iconic landmarks to enjoy.
However, the primary reasons it is popular among high-net-worth individuals are Toronto’s solid education and healthcare systems, safety, and good quality of life.
A 2023 report even found that Canada’s Toronto ranks among the world’s wealthiest cities. This place would be ideal for those looking for a young and hip vibe. After all, millennials form a significant portion of the city’s population.
Miami, United States
Another city whose residents enjoy a high quality of life and a booming property market is the US’ Miami. The name needs no introduction as people know Miami as the city of choice for international sports stars and celebrities.
Being a coastal metropolis, Miami offers a pleasant climate and paradisiacal beaches to its property owners. Could there be anything better than waking up each morning to hit the beach? What makes it the best microcosm is the fact that different kinds of properties are available for purchase – waterfront, those with an urban feel, etc.
The crowd of this city is also known to be predominantly young, vibrant, and lovers of good nightlife. Some of its exclusive neighborhoods for luxury real estate include Indian Creek Island, Gables Estates, Tahiti Beach, Journey’s End, and Fisher’s Island.
In conclusion, a 2022 Bloomberg report stated that wealthy investors had purchased $40 billion worth of real estate in 2021. The luxury real estate market is booming as the super-rich are trying to protect their money from rising inflation.
If you’re also looking to invest in a luxury property, now is the best time to do so. With so many amazing locations to choose from, there’s no reason to sit on the fence!
