BLOGS

Setting a New Trend in Luxury Real Estate

Luxury real estate, such as single-detached residences, townhouses, or condominiums, is available in the Philippines for local residents, foreign businessmen, or foreign national retirees. Philippine real estate is now world-class in terms of construction, design, and amenities. In addition, luxury homes in the Philippines is a lot cheaper compared with prices in other countries.

Luxury Real Estate

In most countries in the world, luxury real estate is often times deemed in terms of location which defines property value. The location of the property increases its value especially if it offers magnificent views, such as waterfront, or amenities such as proximity to golf courses, business centers, hospitals, schools, and entertainment venues.

Luxury real estate is often equated with higher valuation. In the United States, a home valued at over $1 million is classified as luxury real estate. If applied to the Philippines using the same valuation system, a residential property is considered luxurious if it is valued in the vicinity of Php 50 million.

Opulence

Residential houses, townhouses, and condominium units in posh areas have the features that one usually finds in a developed country such as the U.S. and the European countries. It is not only the price or value that determines if a residential unit is luxurious or not. A super-sized mansion cannot be considered a luxury home if it does not possess the high-end location, architecture, decadent amenities, manicured grounds, digital capabilities, and other unique details that will make it stand out from the rest.

A luxury residence such as the Alpine Village in Tagaytay, developed by Brittany Corp., speaks of opulence in its furnishing, décor, and every single thing that is inside it. Italian marbles and tiles for flooring, gold-plated bathroom fixtures, crown moldings, Persian rugs, European furniture and chandeliers, and other ostentatious signs of prosperity can be found in this type of residences

Location

In real estate business, location, location, location is the mantra. Location will increase or reduce the value of a residential building. The home could be in a commercial district and the value will be considerably lower than if the home is in an exclusive, gated enclave for the rich and famous. In the past, residential areas not called Forbes Park, Dasmarinas Village, Corinthian Gardens, Bonifacio Global City, Ayala Alabang, and others do not command very high prices and do not exactly deserve the tag “luxury homes”. However, Vista Land is changing that by creating master planned communities in different parts of the country.

Mansions, townhouses, and condominium buildings that have view of the city, a lake, a volcano, or a mountain, especially when they constructed next to golf courses, are considered high-end residential properties. In terms of security, luxury homes are often times located in secured and gated residential enclave completely separate from the rest of the world. Gated communities are secured and patrolled by security personnel High rise residential units are inaccessible to the pedestrian and the usual Tom, Dick, and Harry of the world.