Category Archives: Luxury Property

Why Gurgaon Has a Good Scope for Residential Projects in 2016

Some of the best residential projects are happening in the city of Gurgaon in the next 12 months. As the real estate market picks back up and the Indian economy continues to recover, this is one of the premier regions to find the best deals and most beautiful properties on the market. Here are a few reasons by Gurgaon should be your real estate destination in 2016.

1. A Wide Range of Options

One of the best aspects of Gurgaon real estate is the fact that there are many different types of homes available in varying townships. If you’re looking to spend a lot of money for luxury, you’ll be able find such an environment as easily as you can affordable housing. According to the Real Estate Times, the two types of buyers that have emerged in Gurgaon recently are those looking for residential property versus specifically luxury properties. Well-known real estate developer Unitech has recently put down new residential projects in Gurgaon that features luxury amenities. Not only do these types of townships boast the usual services, such as club houses, open green spaces, and excellent access to major roadways, but there’s another level of luxury now offered.

The Ivy Terraces, for example, are a group of properties situated within Wildflower Country and boast access to self-contained services such as schools, nursing homes, shopping areas, banks, and taxi stands. Luxury housing these days is an up and coming commodity, and if you’re looking for a wide array of options from which to choose, look no further than the townships and new projects in Gurgaon.

2. View from the Top

Don’t forget that although you may find a gorgeous flat to live in, you don’t want to forego natural beauty either. According to India Homes, one of the strongest reasons why Gurgaon projects are a good bet for investment is the fact that many apartments offer attractive views of the bucolic landscapes that surround the Millennium City. Properties are located within a more open setting than a city such as clogged and sometime claustrophobic nearby Delhi. Although larger cities and their surrounding suburbs are known for being major business capitals, Gurgaon has the best of both worlds. You can go to work in the Millennium City, or commute to a job in a larger city nearby, but then go home to both a beautiful, luxurious township filled with greenery. This is helpful in leading a life that’s balanced between personal enjoyment and peace, and hard work in your professional life.

3. The Economic Forecast Is Sunny

Gone are the dark days of the recession that were full of doubts and insecurities about the future as the national economy continues to improve. In fact, real estate experts reported to Business Today at the end of last year that it’s time to start investing again, especially due to the fact that prices in certain areas, including Gurgaon, have lowered due to various market factors. If you’re looking to get in on the ground floor to buy some of the best residential projects for 2016, Gurgaon is one of the safest areas in which to invest. Whether you’re seeking luxury or simply a decent home for an affordable price, the outlook in terms of investments and return are looking increasingly better as time goes on. Given that the current national government is also especially interested in expanding and fostering business and economic growth, there’s never been a better time to get back on the real estate bandwagon.

4. Developments Slated for 2016

The Hindustan Times reports that, due to Gurgaon’s rapid growth in spheres ranging from industry, business, and urbanization, it has the potential to become a forerunner in cities that are capable of self-financing. It’s a city on the rise, and the continuous growth of the corporate sector and companies setting down roots has ensured a steady flow of jobs, structure, and has served as a draw for many different types of property buyers. This includes everyone from expats to middle class professionals looking for a good property investment that will retain its value. Next year is shaping up to be a good year for many sectors, including the real estate market. Gurgaon itself is also continuing to meet many expectations of its residents, and growth hasn’t slowed down so far in 2015.

The year 2016 is slated to be an exciting time for the real estate market in India and new residential projects in Gurgaon, with new interest generated in emerging properties and reputable developers continuing progress in prime areas. The more buyers who are interested in these homes, the more demand will meet supply. Although the entire country experienced serious economic setbacks, as did the rest of the world in the past few years, recovery will continue into 2016. Act now to get in on some of the best deals in the real estate world, especially in fast growing locations like the Millennium City, and reap the rewards in years to come.

London and Monaco are Europe’s Most Expensive Cities For Residential Property Buyers

Closely on its tail is Prime Central London, where 120 sq. m. super-luxury apartments can cost £1,170,000 or £9,750 per square metre (sq. m.) (in Euro: €1,742,656, or €14,522 per sq. m.). Apartments of 120 sq. m. in other luxury areas of Central London are likely to cost £580,000 or £4,833 per sq. m. (€863,880 or €7,199). The large difference is explained by London’s highly segmented top-end market, with super-luxury apartments in absolutely prime areas commanding considerable premiums.

Paris and Amsterdam follow London. A 120 sq. m. apartment in either of these cities has an average purchase price of €800,000 (€6,667 per sq. m.).

Moscow is Europe’s sixth most expensive capital for buyers of residential property. And though apartments in Moscow can be rather rewarding for buyers in terms of rental income returns, investors should be aware of the high risks (purchases are cash-based, and the authorities can suddenly turn hostile).

Dublin makes an appearance among Europe’s most expensive cities in 10th place, with a high end 120 sq. m. apartment on average costing around €600,000.

The Baltics, till recently Europe’s hottest residential investment destination, are now expensive. A high-end apartment in Central Vilnius, Lithuania will cost on average around €3,792 per sq. m (€455,000 for 120 sq. m.). Latvia follows closely with high-end apartments in Central Riga costing an average of €3,020 pr sq. m. Rental yields in the Baltics have also dropped to very low levels.

There are still some very inexpensive capitals in Europe. Berlin, in particular (€3,167 per sq. m.), is now experiencing inflows of foreign money in response to its relatively low prices. But much less expensive are Slovakia’s Bratislava (€1,292 per sq. m.); Warsaw, Poland (€1,175 per sq. m.); Skopje in Macedonia (€1,125 per sq. m.) and Chisinau in Moldova (€917 per sq. m.). It is to be expected that foreign buying in some of these capitals will accelerate.

Rental returns are falling

The rental returns on owning apartments in Europe vary greatly – from around 14.13% in Moldova’s capital Chisinau, to 2.43% in Monaco. The trend is for rental income returns to fall, because rents are not keeping pace with prices anywhere in Europe. As 2007 dawns, rental returns are lower in most locations than they have been for 20 or more years.

To some extent rental returns appear to correlate with risk. Most of Europe’s ‘high yielding’ countries are in the East. Apartments in four Eastern European capitals earn above 10% rental returns: Chisinau, Moldova (14.13%); Warsaw, Poland (13.28%); Sofia, Bulgaria (10.56%); and Bratislava, Slovakia (10.06%). The higher risks of the East may be a factor in these returns (high corruption, political risks).

But risks are not the only factor. The Global Property Guide believes that the relatively recent arrival of the market economy, high interest rates, and relatively undeveloped mortgage markets. To illustrate, it would surely be hard to label the historic city of Bratislava, Slovakia, as a high-risk location, yet the rental income returns are excellent.

Western Europe generally suffers from another, different disadvantage: High taxation. There are high rental income returns to be earned in Amsterdam and Paris (8.25% in both), in Munich (7.80%) and Brussels (7.53%). But all four cities are high tax environments.(Poland and Moldova are also high tax for rental income.)

Property in Prime Central London returns surprisingly high rental yields, at 7.13%. Note that this “Prime” category encompasses relatively a narrow group of super-luxury apartments in absolutely prime areas (Belgravia, Chelsea, and Knightsbridge). The high returns in these select locations contrast with the significantly lower rental yields (5.79%) available in Central London’s other luxury areas (Kensington, Bayswater, Notting Hill Gate, St Johns Wood, Highgate, Islington, Highbury, and Primrose Hill).

Rental returns cannot fall forever

Nowhere in Europe are rents keeping pace with the continued rise in property prices. This is cause for concern. At the Global Property Guide, we informally consider a danger signal to be rental returns of around 4% or below.

Several European capitals offer rental income yields around or below this 4% level. An example is Madrid, where rental returns are now at only 3.15%.

See the tables at: [http://www.globalpropertyguide.com/articleread.php?article_id=82&cid]

Tips To Find The Best Apartments for Sale in Colombo

Understanding The Market For Apartments For Sale And How To Decide On The Type Of Property You Would Want To Own In Colombo

Popularity Of Apartments For Sale

With the growth of the economy in Sri Lanka, there has been an increased focus on the real estate market within the island as well. Due to the higher concentration of development occurring closer to the capital city Colombo, it has also increased the demand for property either for purchase or rent in the vicinity. But such rapid developments and increased demand has also led to a scarcity of free land available. Since the need to buy home properties has to be provided with a solution, many leading apartment builders have begun several projects to provide potential homeowners with viable solutions to choose from. This sort of developments is supported by statistics that indicate that the entire Western province covers only 6% of the country’s land areas but close to 28% of the population seek to make their homes in the area.

Since this trend has been on the rise during the past few years, now you can find many apartments for sale and also apartments for short term rent that can be chosen according to your requirements. There are also several good houses for sale available in nearby areas but due to the high prices, they are not suitable for many interested homebuyers. In terms of apartments there are broadly two categories, namely, luxury apartment projects and micro apartments available for consideration.

Types Of Apartments For Sale

Popularity of luxury apartment projects

In previous times, real estate agents and property developers focused more on offering stand-alone houses for sale. But now, with the limitations highlighted above, these developers have looked to offer those who want to buy home units the option of choosing from luxury apartments. It has been found that the demand to buy apartment that fall into the luxury category comes from the Sri Lankan community as well as foreigners. Such investments made in relation to own properties in Colombo area have also shown high increase in popularity. As per the statistics gathered up until 2015, there have been close to over 2600 luxury apartment units and it is further estimated that this number could reach close to 6000 units by 2019. Such luxury units are also found to be available for those who wish to rent an apartment, giving rise to more and more apartments for short term rent being offered.

Potential for micro apartments in Sri Lanka

Another alternative to houses for sale is the availability of real estate in the form of micro apartments. Many apartment builders have also invested in such projects that have been in high demand among those who want to buy apartment space in Colombo. The target market for this type of property has actually found appeal among the affluent customers who might even want a luxury apartment as well as middle-income individuals who want to invest in such a home for them. Similar to the above category, this type of housing solutions are also available as apartments for short term rent for those who are unable to buy home units by making an outright purchase and therefore look to rent an apartment instead. This opens up the possibility for more home seekers to get closer to their dream of owning a home in a prime city location.

Choosing Between Apartments And Houses For Sale

When you consider purchasing such properties you should be prepared for making the investment. The main decision you would need to make would be in relation to whether you actually want to buy apartment space or you still would like to look out to buy home in the form of a separate house. As a primary consideration when you invest in real estate you would need to decide on the space or size of home. Normally houses in Sri Lanka tend to cover about 2700 sq ft while an apartment would generally fall in the range of 1000 to 1500 sq ft. In addition apartments tend to offer additional services such as security, cleaning, waste disposal and other recreational facilities that are normally not available with separate housing units. But on the other hand, you might want to consider the following that are normally not available with apartments.

  • When you buy apartments you will get a limited parking slot allocation
  • Modifications are not possible
  • Most apartment complexes have restrictions on owning pets
  • Your possibility of engaging in gardening activities is very minimal

Considering When To Rent An Apartment

Due to the various requirements of homeowners there are several other options made available in terms of being able to rent an apartment. Many individuals who would be looking at living in small living spaces for short periods of time can consider finding apartments for short term rent. Since there is a high portion of the population that need to find accommodation to travel to work and for other arrangements in the city limits, this has become more of a financially viable option many prefer. Depending on the requirement you could even arrange to extend the rental period once agreed with the renter. This is also a great way to check whether you can adjust to an apartment style living. If the lifestyle appeals to you, with time, you could also consider owning an apartment of your own.

To cater to much of the demand to wanting to buy apartment properties, there have been several investors and developers who have taken interest in developing projects which are in demand for this market. Among these companies there are several reputed apartment builders operating in the island that have produced several leading apartment projects and have several others lined up as future projects.

The Perks of Living in a Luxury Neighborhood in Hawaii

With its scenic terrains and seascape, a rich culture, and an easygoing vibe, the Aloha State easily lands a spot among the list of favorite vacation destinations around the world. To enjoy the best of Hawaii, find a luxury neighborhood, and savor these important perks of living the high life:

Spectacular views

Developers of luxury neighborhoods invest in the most sought after locations to be able to provide future property owners the best views. Many estates even come with unobstructed views which can never be taken away. Residents can then wake up to dramatic views of the ocean, the sunset, the mountains, or a golf course – often from different rooms of the same house! Imagine yourself strolling through your own house, cottage, condo or resort property with such a grand panoramic view.

Access to exclusive clubs

Residents of luxury neighborhoods like those found in Kukio and Mauna Lani can easily gain access to highly exclusive clubs for sports favored by the affluent, especially golf. These clubs offer top-class amenities, from splendid golf courses and spas, to open air bars and dining pavilions, just like in Kukio Golf and Beach Club. Most also provide dedicated concierge staff, and invites to special events throughout the year.

Round the clock security

Exclusive neighborhoods in Hawaii are very secure places to live in. They are gated communities, often with 24-hour manned security at the entrance – as in the case of Hualalai Resort – and security guard patrol services. Others, like The Bluffs at Mauna Kea, make residents and guests go through an electronic gate. Additionally, the individual luxury estates can only be accessed by driving through private, paved roads.

Membership in a private, close-knit community

Living in an exclusive neighborhood brings people together into one community, where they can share their similar interests, be it in the field of business, sports, art, music, or philanthropy, through festivals, benefit galas, and other events. Like Michael Dell and Egon Durban who discussed their important business deal for leading tech company Dell while walking about the Kukio Club grounds, or Woody Harrelson and Owen Wilson who played poker together in their commune, neighbors in Hawaii luxury neighborhoods enjoy the Aloha State together.

Best of the outdoors

There are just so many activities to choose from and breathtaking places to visit, often located just a few steps from the swankiest communities in Hawaii. These include snorkeling, yachting, horseback riding, or flying, or simply walking by the beach. Truly, luxury neighborhoods in Hawaii are the ideal home for those with huge love for the outdoors and the island life.

The Prices Of Aspen Real Estate Are Not Extraordinary Anymore

Aspen real estate has always had a treasured place on the upper tears of the price ladder. But what enables us to judge if real estate is pricey or affordable. There are two different ways to measure this: Real estate might look cheap or expensive compared to the budget you have for buying a property and it might look reasonably or excessively priced compared to other luxury real estate in other resorts like Deer Valley or Utah.

The first case is to do with your personal finances. Your budget is setting the tone. If you have $300,000 to spend on a condo then Aspen or Snowmass will definitely look expensive. On the other hand if you budget is $3 million then comparing Aspen properties to other luxury ski destinations will show you that prices are on par or lower than its competition.

Aspen condos in the central core of town range from about $1,300 to $1,900 per square foot depending on all the usual criteria like location or state of upkeep. Prices in Vail, Colorado are about the same for Lionshead and Vail Village developments. International real estate prices, for example in Dublin, have far outpaced Aspen. For international buyers Aspen can feel like a bargain.

The weak US Dollar is doing its share to make US properties look attractive for buyers from the Euro zone or British citizens.

Aspen and Snowmass with its few thousand single-family homes and 5,000 condos between them are on par with standard Manhattan Real Estate. This is not comparing Aspen to the Fifth Avenue co-ops that demand prices of up to $6,000 per square foot. Manhattan with its millions of dwellings is priced similar to a luxury resorts like Aspen and Snowmass. This should ensure that real estate in Aspen will do well in the future.

The US Real Estate Faces a New Crisis

This time last year, my wife called me and said the four words no husband ever wants to hear…

Honey, we have termites.

I shouldn’t be surprised. I mean, we live in Florida – everyone gets termites here. The pest-control guy had found the clue – a few bug wings. But where was the nest?

I found it soon enough, up on our second-story deck. The structure’s made of concrete, but the decking itself? Yep – plywood. Just walking around up there, you’d never see it. But the critters had bored a little hole through the tarpaper sheathing, steadily chewing away the wood underneath.

It’s not unlike the new U.S. real estate boom. It appears a bedrock of economic strength. But as I’ll show, events far away – in China – are now weakening this market in subtle, powerful ways, with repercussions for the U.S. economy itself.

When people talk about the rebound in U.S. real estate, primarily they’re talking about luxury homes. It’s the hottest, most lucrative end of the market. Sales for houses priced above $1 million rose almost 9% last year, more than double any other price category, according to the National Association of Realtors (NAR).

Buyers from China are the ones setting those record prices. How?

One is sheer numbers. Chinese buyers account for nearly a third of all home purchases by foreigners in the U.S. (and nearly triple those of Canadians, the next closest nationality group).

Two, Chinese buyers are more than happy to pay above top dollar – their median purchase price is $523,000 – more than twice the U.S. average.

Three, cash is king – and Chinese homebuyers love cash. According to the NAR, 76% of Chinese purchases were all-cash transactions.

First Australia, Then U.S?

But what happens now, after a 40% crash of the Shanghai Composite Index, and a still-slowing Chinese economy?

If you read the headlines, the “expert opinion” is uniformly bullish on what China’s woes mean for U.S. luxury home purchases. The rationale is that further weakness in China will only spur mainlanders to buy more U.S. real estate, not less.

To me, that sounds like bubble talk. I heard similar rationalizations when I was a financial journalist, covering the boom and bust of the U.S. housing market.

Perhaps America’s luxury home realtors should look to Australia, where Chinese property buyers also drove up luxury home prices to insane levels. More recently though, sales have started to tail off in the places where Chinese buyers are most active – the two largest cities, Sydney and Melbourne.

And Morgan Stanley, in a recent note, became the first major financial institution to declare that Australia’s housing cycle has peaked. The bank’s analysts expect “further declines in auction clearance rates (i.e. sales) and house price momentum, with a negative impact on construction occurring over 2016.”

Could the U.S. luxury home market not be far behind? The anecdotal data certainly points in that direction.

Realtors in the San Francisco Bay area now tell local media that buyers from China are hitting the “pause button.” Another said she’s seeing price reductions among her high-end ($3 million and up) properties. A Sotheby’s agent told KCBS-TV, “It’s been a little slower now. I feel like there’s been some kind of shift.”

In Miami, where Chinese buyers were a rising force in the marketplace, luxury home sales fell 10.6% in the most recent quarter. The number of listings keeps rising too – up 15% from year-ago levels.

Recession Risks?

Even the Chinese themselves may be seeing the writing on the wall. I ran across an article on a Singapore-based website aimed at high-wealth, English-speaking Chinese recently. The title of the article? “Now Is Not The Time to Buy in San Francisco.”

The national data also raises an interesting point. In a midyear report, Realtors.com noted that the total number of foreign buyers of U.S. real estate fell 10% in the 12-month period ending in March. Yet the dollar volume of their transactions (we’re talking residential sales here), rose 13% to a record $104 billion.

Translated, it means fewer buyers chasing higher prices. To me, that says “bubble.”

So let’s say I’m right, and that bubble has peaked. What does it mean?

Morgan Stanley, in its recent call on Australia’s Chinese-fed housing bubble, believes the coming U.S. real estate slowdown raises the risk of a recession in the Land Down Under.

Could it happen here too?

Considering so many of these homes are purchased for cash, the risk to the banking system seems minimal.

On the other hand, homebuilders haven’t been this confident in years. This summer, the Wells Fargo/National Association of Home Builders sentiment index hit its highest level since November 2005 – just before the U.S. real estate sector went over the cliff.

Likewise, the boom in luxury residential sales spurs a Field of Dreams mentality (“If you build it, they will come”) among builders and developers. That means lots of speculative development, and ever larger orders for lumber, concrete, premium windows, cabinets and lots of other high-value building components.

What happens if real demand doesn’t meet expectations?

It’s just another sign, as Jeff Opdyke has mentioned often, of a U.S. economy left with very few “legs” for support.

Luxury Yacht Charters

Luxury Yacht Charters Top Class Service More Affordable Than You Think

Cruising leisurely on an opulent yacht, living la dolce vita as the world glides slowly by may seem an unreachable dream. But it might be more affordable than you think using luxury yacht charters. For the period of your choice, chartering operators make available all benefits of yacht ownership with virtually known of the hassles.

Chartering is easy and uncomplicated. A charter agreement is basically the boating equivalent of a property rental agreement. It is a usually specified for a short period of time, perhaps a few days or perhaps a few weeks, longer if desired. These agreements provide access to a luxury vessel on a cost effective per person per day basis.

One of the first priorities on boarding a charter vessel is to complete a comprehensive familiarization with the vessel and desirably also the expected weather conditions during the journey (at least the next 24 hours), particularly if the charter is a bare boat arrangement. A thorough briefing is considered standard operating procedure by experienced mariners and charter operators.

Some brokers mail out a DVD presentation in advance of the charter or alternatively post it onto their website for viewing online. Others also make available a selection of itineraries detailing each of the anchorages and special features along the journey. Still others provide a selection of reading so that passengers to get the most out of their experience.

Charterers are not expected to have any formal boating qualifications, or even any previous boating experience. However, if they express a lack of confidence or appear unable to master even the most basic techniques and principles, the chartering broker will recommend that a skipper accompany the party for the first day, as a minimum. Chartering agreements normally specify charterers make available a bond amount as a contingency to cover any damage to the vessel.

In conclusion, luxury yacht charters are available at coastal locations all around the world. They are easy to arrange and can provide an experience vastly different to that known by many people. Try it out, you may find a new passion. Although this sort of trip is way out of the budget for most people there is a select special few who can enjoy luxury at this level, if this is you, you are very lucky so remember that when you are floating around in the infinity pool.

Boston Condo Market In Real Estate Frenzy

The Boston Condo Market has been on a mega rebound over the past few weeks. Downtown inventory rates have dropped significantly and prices are still climbing. Many Boston condos that we have been tracking over the past few weeks have went under agreement at full or over asking price showing the stability & possible frenzy in the 2007 Boston real estate market.

Last week we all read about the real estate frenzy going on in Manhattan right now. Is it the buyers who have been waiting for the bubble to burst over the past 18 months and now are faced to purchase now or rent for another year? Is it the low interest rates that are still active in our marketplace? What is causing this new renewal of the Boston real estate market?

New condo developments in Boston are also on the hot seat. With even more projects coming up this shows the lack of luxury condo properties or full service condos. We are glad to see more of this type of condo property being built as it is the wave of the future. The Back Bay, Beacon Hill, Brighton Allston, Charlestown, Chinatown, Fenway, Leather District, Midtown, North End, Seaport, South Boston, South End, Waterfront and the West End in Boston are all hot and downtown Boston will continue to boom.

Not surprising, some immediate suburbs like Brookline, Newton, Medford & Quincy are also picking up on this trend. Traditionally these markets don’t cater to the full service young professional, however, we are seeing all new types of luxury condominium properties popping up around the skirts of Boston also.

Immobilier – Saint Tropez

I have known the cream of the crop Immobilier in Saint Tropez from the mid 80s when I visited the place to survey buying property in St Tropez.

During my first visit to their office I was much impressed not only by their cordiality and prompt service but also by the ease of communication; they are multi lingual. I am a frequent visitor to the French Riviera because that happens to be our family’s most preferred holiday destination. All these years we have never even considered using multiple sources for our purpose,

But this time around the objective was rather different. I have always cherished the idea of owning a villa of our own on the French Riviera, preferably in Saint Tropez and what else but visit there and make inquires.

I am at the verge of retirement and I do expect a handsome retirement bonus. My family is in full agreement with me for making this investment. Expecting it to be a protracted undertaking I decided to call them right away; and so I did giving them all the details that they asked for. I also reminded them that the purchase was to be finalized after my retirement. They expressed their understanding and confirmed their plan to proceed accordingly. It was heartening news when they informed me that by the time I would be ready for the purchase a low in the cost level was highly probable.

Finally, about two weeks before the retirement I received a hefty and immaculately prepared plan from them including a guideline to proceed and a list of proposed properties not restricted to Saint Tropez but in Ramatuelle, Escalet, Gassin, Grimaud, and throughout the French Riviera. That was indicative of the mutual trust, which is extremely rare, especially in the real estate business.

Listed were modern and more traditional villas and a host of other choices with a range of facilities any one could only dream of. In fact the options were so numerous that I thought I needed help to sift through the plethora.

The family was so excited about a house, their own house on the Riviera; they couldn’t stop talking about it. Each had a plan of his or her own while there on the sunny beaches of the Mediterranean with crystal clear blue water and a lot of new things to do about which they could only dream while here. Some were already extending invitations to their friends to visit us during vacations

Finally the moment of departure was upon us. Every thing done or taken care of and we were off on an early vacation which of course included closing the deal on which we had been working.

The journey was not eventful. While all were busy thinking of the coming days, they did not seem interested in much else. As usual the chauffer was there with the sedan and we drove to our lodging. All was comfortable and cozy as usual.

The whole family voted in for a property in Saint Tropez on the seaside. Our Immobilier in Saint Tropez got immediately to work and with out any hassle the deal went through. We moved into our own house and the routine of setting up our home got under way.

A Guide to Better Living in Luxury Apartments

There is an enormous difference between living and surviving, and renting luxury apartments constitutes nothing less than living. If you have never experienced that quality of life, you should know that nothing is equal to it. Some would even argue that they have many benefits over owning a house. There are many reasons for this argument.

Why Luxury Apartments Are More Expensive on Paper

These residences come with their set of expenses. The security deposit will be quite steep compared to alternatives, not to mention the brokerage fees as well as the rent. The rent is higher than that of standard housing, but the benefits versus the extra expense will quickly make you realize that it’s the better option. For starters, when a person owns a house, they’ll need to do all of the maintenance. On the other hand, when renting a cheap house, tenants discover that the owners may not be too keen on holding up their part of the deal when it comes to repairs. Luxury apartments also tend to be much safer, with the added security features plus the fact that not just anyone can get into such a complex.

Design Ideas to Consider

The ability to furnish the place and make more changes than one would have been able to in other apartments is something that most would-be tenants overlook. Many luxury apartments are fully furnished, but there are also some of them that allow tenants to do what they want with the design. Some designs that go well with these kinds of living spaces include minimalist and contemporary designs. A contemporary design will look fantastic in almost any area. It has a warm feel with a more inviting appeal than many other designs. Minimalist designs, on the other hand, are focused on space saving and living with the bare minimum. It would be an excellent solution for singles and people that care for the environment.

Other Useful Tips to Consider

It may not come as a surprise, but these apartments do not always come with cleaners. It is, therefore, advisable to secure the services of a reputable cleaning service. Once you are sure that the house will always be sparkling clean, you’ll be able to focus on other, more important things in life. All things considered, the extra expense is minimal. Keep in mind that your house will be the place that you’ll be entertaining friends and, in some cases, possible future business contacts. Having it clean with beautiful kitchenware for serving guests goes a long way.

In general, luxury apartments are costlier than most of the other alternatives, but the extra expenses are worth every dollar considering what you get. These types of houses are not suitable for everyone, which is why the final verdict will often be determined by a combination of personal preference and budget.