Navigating the exclusive luxury real estate market requires an understanding of the unique considerations that come into play when you’re investing in luxury real estate. We’ve put together a guide to answer every question you might have.
In this guide you’ll learn:
Defining luxury homes
Much like beauty is in the eye of the beholder, your definition of luxury real estate will be determined by personal preference. However, there are several common denominators that can be used to define the epitome of luxury.
Luxury real estate offers superior quality, exclusivity and an array of enviable amenities and features. Various factors make these homes stand out, including their prime locations (think chic urban areas, scenic suburban neighbourhoods or breathtaking country panoramas). Such homes are typically priced upwards of R3 000 000.
Architecturally speaking, luxury homes often showcase unique or custom designs, showcasing the work of master craftsmen. They will typically be built and finished using the finest materials imaginable, with the utmost attention to detail being paid. Inside, luxury homes will typically feature ample living space, including multiple bedrooms and bathrooms, as well as grand living areas and gourmet kitchens. Specialised rooms such as home theatres, gyms, libraries and wine cellars enable such homes to not merely meet their occupants’ needs but also indulge their interests.
High-end properties are home environments where residents feel safe and comfortable. Smart home technology, advanced security features and energy-efficient solutions are thus often part of the luxury home package.
Upscale real estate is also renowned for its enviable outdoor spaces. Expansive gardens, resort-style swimming pools, outdoor kitchens and recreational facilities like tennis courts regularly round off the offering. These properties often feature stunning views and privacy, creating a serene and exclusive living environment.
Simply put, luxury homes cater to the needs and preferences of discerning buyers by providing unparalleled levels of comfort, aesthetic appeal and convenience. As the old real estate adage goes, location is everything, and such homes are often located in communities that offer extra perks like access to exclusive schools, high-end shopping destinations and premium facilities.
Features to look for in luxury homes
Luxury shows itself in a home’s premium finishes. For example, Grohe taps, showerheads and concealed cisterns are hallmarks of a bathroom in which no expense has been spared. Similarly, in the kitchen, the use of brands like Smeg for built-in appliances speaks volumes.
One of the hallmarks of luxury real estate is the use of advanced smart home technology. Smart home systems that control lighting, temperature, security and entertainment from a centralised device are routinely found in luxury homes.
Advanced security systems should also be present, with features like surveillance cameras, motion detectors and automated gates. The world of smart home security has advanced in leaps and bounds and surveillance cameras now offer motion activation, night vision, panoramic views and high definition.
Thanks to smart home integration, security systems are now being connected with other smart home devices, which makes it possible for the lights to be switched on when the security system detects motion. With remote monitoring, homeowners are in control of their security systems via smartphone apps from wherever in the world they happen to be.
With sustainability topping the agenda in 2024 and beyond, energy-efficient solutions like solar panels and energy-saving appliances add to the appeal of any luxury home. Efforts to make luxury homes energy efficient begin in the construction phase, with sustainable building materials like recycled steel, bamboo and reclaimed wood being used wherever possible. Windows are double or triple-glazed to prevent unwanted heat loss or gain. Smart home technology helps to make luxury homes more energy-efficient through the use of smart thermostats, automated lighting and energy monitoring systems.
Leisure and entertainment opportunities should abound in a luxury home. Think resort-style swimming pools, spas, saunas, home theatres, game rooms and outdoor kitchens. Families who value wellness will find luxury homes with features like private gyms, yoga studios and sports facilities.
Luxury homes also stand out for their architectural excellence. Typically crafted to offer both aesthetic appeal and functionality, these homes are constructed and finished using high-quality materials like granite, exotic woods and marble. Large windows, high ceilings and open floor plans create enviable living experiences.
Moving to the interior, luxury real estate typically boasts large spaces, with multiple bedrooms and bathrooms being completed with en-suite bathrooms and walk-in closets. Custom cabinetry and sophisticated lighting and flooring should all reflect top-notch craftsmanship.
The outside areas of a luxury home are as important as the indoor spaces. Luxury real estate typically offers expansive gardens, landscaped grounds and outdoor living areas complete with features like patios, fireplaces and alfresco dining spaces. In many cases, luxury homeowners will enjoy all this while overlooking breathtaking ocean, mountain or cityscape vistas.
Privacy is synonymous with luxury, and luxury real estate is characterised by gated entrances, high walls and advanced security systems. The secluded nature of these properties creates a retreat from the outside world.
Buying a luxury home
When buying high-end properties, there are various factors to keep in mind. The first thing you need to understand is the true value of the property. This will empower you to make sure that you’re paying a fair market price. Another important factor is doing your due diligence. Get a thorough inspection of the property done to ensure that there are no defects that the seller may not have been aware of when compiling the necessary disclosure documentation. Remember, the fact that the property is luxury real estate doesn’t necessarily mean it’s in tip-top condition.
If you’re considering buying luxury real estate that forms part of a sectional title, it’s imperative that you look over the relevant financial statements and complex/estate rules and ensure that you’re confident that the complex is well run and well suited to your family.
When choosing a luxury property, there are many advantages to finding a property that boasts a timeless design. This will make it easier to sell or rent out your home if you should wish to — and your personal tastes can be amply expressed through your choice of soft furnishings and objet d’art.
As is the case in any real estate transaction, it’s crucial to work with a property practitioner who you trust when buying luxury homes. Find a practitioner with specific experience in luxury real estate in the area you’re considering buying in. You can check the legal status of any property practitioner on the Property Practitioners Regulatory Authority website.
If you’re buying in an estate or complex, take the time to investigate the property developer and ensure that they have a reputation for creating luxury properties that stand the test of time.
A final tip for those considering making a luxury home their own is to speak to an accountant and go over the tax implications of their investment.
Choosing the right location
From the cityscapes of Sandton to seaside paradises like Ballito and Llandudno, luxury real estate purchasers are spoilt for choice in South Africa. The first question to ask yourself is what is your idea of prime neighbourhoods. Would you prefer the city hustle and bustle or a quiet retreat? Is it important to you to have convenient amenities close at hand, or would you prefer to travel a little further in exchange for tranquillity and scenic views? If city life is not for you, do you want to be near the beach, the mountains or both? The answers to these questions will provide a broad outlook as to where the right location for your luxury home will be.
Your luxury real estate purchase is more than just a home — it’s an investment. Economic factors must be another important cornerstone of your decision-making process. Research current and historical market trends in the area to understand what your potential property appreciation value will be. You also need to consider what the future of your neighbourhood looks like. Find out if there are any big developments or changes planned for the area. Get the advice of an expert property practitioner to ensure that you’re making a sound decision.
Think about what convenient amenities are important to you. If you have children at school, you’ll need to ensure that the property you’re considering buying is close to great schools that will meet your children’s needs. Prime neighbourhoods typically boast access to a wide array of amenities, including schools, shopping centres, healthcare facilities and things to do.
Your luxury home should be in a location that boasts a history of good financial governance and reliable municipal services. These factors are among the reasons that Cape Town remains popular among HNWIs, as do smaller Western Cape towns like Plettenberg Bay and Mossel Bay.
How to maintain your luxury home
As the old saying goes, prevention is better than cure, and the best way to manage upscale property maintenance is to invest in regular inspections and maintenance services. This applies to plumbing, electrical fixtures and air conditioning, among various other features. Being proactive prevents unwanted surprises and costly repairs. It’s important to regularly assess the condition of furniture, carpets and textiles and repair or replace them as needed. Bear in mind that the protective coating that comes with high-end lounge suites needs to be redone once or twice a year to maintain their efficacy.
Routine inspections should be carried out on the exterior of your home’s structure, including roofs and windows. Pest control (both inside and out) should be done at least once a year to prevent unwanted critters.
When it comes to maintaining manicured lawns, gardens and other outdoor spaces, regular care is key. Taking care of mowing, pruning and pest control regularly will uphold the aesthetic appeal of your property.
Luxury amenities (think spas, swimming pools and home theatres for a few examples) also need to be looked after according to the manufacturers’ guidelines. Regular cleaning, servicing and repairs will ensure the longevity of these investments.
Luxury home care may be an arduous task, but creating a schedule of tasks that need to be done using Google Calendar or a similar app can go a long way towards making high-end property upkeep simpler. When choosing a home maintenance service, be sure to choose one with positive reviews — and it may be beneficial to ask friends and neighbours who they have used, rather than relying solely on online reviews.
If you are going to rent out your luxury property, whether on a short-term or long-term basis, it would be a great idea to enlist a property management service to assist you.
Thanks to a national network of offices throughout South Africa, Lew Geffen Sotheby’s International Realty is well placed to help you manage your investment in any corner of the country.
Last but not least, it’s imperative that you maintain your security features and upgrade these whenever possible. Test your security infrastructure — such as cameras, alarm systems and motion sensors — regularly to ensure that your home is as secure as possible.
The state of the luxury property market in South Africa
South Africa’s luxury residential market — with Cape Town and surrounds being its crown jewel — is currently one of the best performing in the world. This is thanks to various factors, including the affordable status of the rand and unsurpassable value for money, together with an enviable lifestyle on the shores of the Atlantic Ocean or in the shadow of Table Mountain. The broad appeal of the Cape, with its pristine beaches, mountain trails and winelands continues to be a drawcard for luxury real estate in South Africa.
In KwaZulu-Natal, La Lucia, Ballito Sibaya and uMhlanga remain sought-after addresses, capitalising on the beauty of the north coast and the migration away from Durban’s central business district. Moving inland, luxury properties in some of Johannesburg’s exclusive suburbs like Blair Atholl, Dainfern Estate, Morningside, Hyde Park and Sandhurst are showcasing immense appeal among luxury property buyers.
Globally, High-Net-Worth Individuals (HNWIs) are recognising the growth potential of emerging markets like South Africa and are choosing these over conventional real estate markets. South Africa’s natural beauty, affordability and ease of investment have not gone unnoticed. In fact, they form part of many luxury real estate investment strategies. In addition, HNWIs are increasingly cognisant of the need to diversify their portfolios to spread risk. In light of ongoing conflicts in Eastern Europe and the Middle East, South Africa offers an alternative investment destination.
Examples of luxury homes in South Africa
As mentioned, breathtaking examples of luxury real estate can be found in many corners of South Africa. Cape Town’s Sea Point suburb is one example of a destination sought-after for its beautiful real estate, gorgeous scenery and abundance of things to do. One recent listing of Lew Geffen Sotheby’s International Realty was a newly redesigned penthouse apartment in Sea Point. Among the factors that made this potential luxury property purchase stand out were a direct lift entrance, seamless views of the Atlantic Ocean and the fact that the home was custom-designed to be an entertainer’s dream. With a back kitchen and front show kitchen, walk-in cold room and five ovens, there’s no culinary marvel that couldn’t be created in this home.
Not to be outdone by its coastal counterpart, Johannesburg’s Melrose Arch offers up some sensational real estate, such as a five-bedroom cluster home complete with a triple-volume entrance hall, three reception rooms ideal for grand-scale entertaining and a master bedroom suite fit for a king, complete with a dressing room and private patio. Luxury real estate means luxurious surroundings as much as sumptuous offerings within the home, and this gem comes complete with 24-hour security in the neighbourhood and an exceptionally quiet locale.
The Garden Route is often described as one of the jewels of South Africa and its luxury real estate does not disappoint. With safety high on the agenda, many South Africans are choosing to live in golf estates and other lifestyle estates. Lew Geffen Sotheby’s International Realty had the privilege of listing a contemporary property in a league of its own in Knysna’s Pezula Golf Estate. Contemporary from ceiling to floor, this property boasts clever blends of natural wood and steel fixtures, as well as a salt-water pool, exquisitely designed bedrooms and sweeping views of the award-winning Pezula Championship Golf Course.
Gauteng also offers an array of luxurious estate options, such as Waterfall Country Estate in Midrand. This prestigious address offers homes featuring private greenbelts, modern kitchens with integrated Italian appliances, heated pools, quadruple garages and a wraparound balcony. As notable as the home itself are the features that this Lew Geffen Sotheby’s International Realty listing offers, which include a solar inverter which takes the property 80% off the grid.
Those wishing to buy luxury real estate in KwaZulu-Natal will be spoilt for choice in Ballito, where you find architectural masterpieces with private access to beaches, boasting luxurious features like curved windows, skylights, tanning decks and expansive balconies.
South Africa’s luxury property market is incredibly diverse and there’s something for every discerning investor.
Find luxury real estate with property experts
Lew Geffen Sotheby’s International Realty has a long legacy and an outstanding reputation. Our property practitioners have vast experience in helping clients buy and sell luxury real estate and they have developed a keen sense of what type of property will suit every investor’s individual needs. Here are three of the ways that we can help:
There are many reasons to rely on Lew Geffen Sotheby’s International Realty’s assistance when you’re buying luxury real estate. The brand is synonymous with the luxury property market and has won an array of awards and accolades. With an array of respected industry partners, the team has backing in every aspect of the real estate journey. Being part of a global network means that Lew Geffen Sotheby’s International Realty is one of the most prominent real estate companies in South Africa. When it’s time to sell or rent out your property, this global network will expose your property to potential buyers and tenants from around the world.
Get in touch with the Lew Geffen Sotheby’s International Realty team today and let us help you find your piece of South African paradise.
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