Forget what you know about location, location, location…Instead, focus on value, value, value. Luxury homes sales are heating up and million dollar homes are in the hottest demand. Actually, luxury homes priced from $1 million to $2.5 million jumped 28.8 percent from 2012 to 2013.
The biggest luxury home market winners are New York, Miami and Los Angeles. With California being the jewel attracting attention from wealthy Chinese buyers. According to The Agency’s Mauricio Umansky shares, “it is wealthy Asian buyers especially Chinese who are playing a major role in California’s recovery.”
What’s hot and selling best for luxury homes in the million dollar range? These days is the value of full-service condominium features and benefits. The luxury brand value adds to emotional connection. When value is presented as an lifestyle enhancement the need demand increases as well.