Agent survey and curated guide showcases the luxury products that affluent trendsetters demand for their homes
MADISON, N.J., Dec. 5, 2023 /PRNewswire/ — Coldwell Banker Real Estate LLC, an AnywhereSM (NYSE: HOUS) brand, and the Coldwell Banker Global Luxury® program today released the "Best of the Best," an online, shoppable guide that reflects the most notable luxury home trends, amenities and in-demand luxury home products.
Carefully curated from survey insights gathered from Coldwell Banker Global Luxury Property Specialists, Best of the Best defines the most desirable amenities in a luxury home today and sheds new light on the must-have room comforts and features heading into 2024. Coldwell Banker Global Luxury Property Specialists are an elite group within the Coldwell Banker organization worldwide and transact on average $288 million in daily luxury home sales.
The following style trends are defining and shaping the future of the luxury home, according to Coldwell Banker Global Luxury Property Specialists:
The in-demand luxury home: Affluent trendsetters are creating luxury sanctuaries and retreats from the outside world in the comfort of their own home. The most desirable homes are equipped with a chef’s kitchen with unique features and tech-enabled appliances, multi-functional indoor-outdoor living spaces that provide a seamless connection to nature, spa-like bathrooms that bring an oasis into the comfort of home, and advanced smart home technology that controls, automates and optimizes functions such as privacy, security, entertainment, lighting, temperature and landscaping, accessible from anywhere.
Two is better than one: Double duty kitchen islands are the leading feature in chef’s kitchens
To be called a luxury chef’s kitchen, one must have:
- A double kitchen island with ample space for cooking, gathering and entertaining is the most important kitchen feature according to Coldwell Banker Global Luxury Property Specialists
- A centerpiece of the luxury kitchen, elegant oven ranges and designer appliances provide sophistication with superior function
- Statement range hoods with pops of color and unique design features that add style and personality
Reimagining a staycation: Cabanas and natural water features are the most popular additions to luxury backyards
Two-thirds of Coldwell Banker Global Luxury Property Specialists surveyed agree that the biggest trend in luxury outdoor spaces is the merging of indoor and outdoor living. The must-have amenities in indoor-outdoor living spaces include:
- State-of-the-art cabanas and pergolas offer resort-style comfort and relaxation in one’s backyard
- Water features, from heated swimming pools to waterfalls, fountains and plunge pools, provide an oasis-like atmosphere that every luxury buyer seeks
- Outdoor living areas that serve as extended entertainment spaces such as sitting rooms, outdoor bars, expanded chef’s kitchens with pizza ovens and built-in grills, expansive gas fire pits and movie screening areas under the stars
Where elegance meets renewal: The freestanding soaking tub is essential in luxury spa bathrooms
Having a spa-like bathroom with unique wellness features is top-of-mind for luxury homeowners. To have a spa-like bathroom, one must have:
- A freestanding soaking tub is the leading trend in luxury bathrooms that epitomize elegance and relaxation, allowing one to lean back comfortably and be fully submerged
- Hydrotherapy showers that offer a spa-like features with massage jets, customizable water pressure and a wide range of shower spray functions
- Designated treatment rooms with spa-design elements such as heated floors and towel racks, and infrared saunas
Healthy living meets smart home technology: Wellness products, from advanced air purifiers to human-sized sound therapy pods, are the top tech products in luxury homes
The key to smart home living is having a seamless integration where the technology enhances not only the home itself, but also the well-being of its inhabitants. Having technology that satisfies luxury consumers’ personal wellness needs are significantly reshaping the modern luxury home.
To own a smart home, one must have:
- Human-sized sound therapy meditation pods that gently mix body vibrations with immersive music, serving as a personal sanctuary to relieve stress
- Tech-infused fitness equipment including immersive smart gyms with touchscreen mirror displays virtually bringing a variety of fitness experts into the home
- Smart thermostats that allow complete control over the temperature of the home with voice command functions, real-time air quality monitoring and sensor technology that helps conserve energy
- Advanced air purifiers that guarantee a near 100% particle-capture efficiency rate to eliminate pollutants in the home’s air, easily controlled from an app
"The Coldwell Banker Global Luxury program is at the forefront, working with the most affluent consumers worldwide every day. As the premier international luxury experts, our Coldwell Banker Global Luxury Specialists are defining the trends that are relevant today and influencing the trends of tomorrow. The Best of the Best is a showcase of their superior insight."
– Jason Waugh, president of Coldwell Banker Affiliate Business, Coldwell Banker Real Estate LLC
"Showcasing our luxury network’s deep knowledge and expertise of the luxury landscape, Best of the Best allows our affiliated Luxury Property Specialists to connect with their clients past the home sale transaction and serve as a true ambassador of the luxury lifestyle. Leading the way in luxury living, we couldn’t be more excited to enable our affiliated agent influencers to offer this new resource to their affluent consumers, continuing the conversation through thoughtful insights and redefining the consumer/agent relationship."
– Michael Altneu, vice president, Coldwell Banker Global Luxury
"Best of the Best is a powerful asset to help agents support their clients in envisioning their dream home. I love being able to offer my clients trustworthy insights into what’s trending in the luxury home design space. This guide is truly a game-changer for wealthy consumers, supplying them with on-trend products that not only elevate their homes, but also add comfort and convenience to their lives."
– Jade Mills, president, Jade Mills Estates and International Ambassador of Coldwell Banker Global Luxury® program
Agent Survey Methodology
For the trends compiled in the Best of the Best guide, over 200 Coldwell Banker Global Luxury Property Specialists shared their insight on the top features and amenities that are most in-demand with their luxury clientele through a commissioned survey from the Coldwell Banker Global Luxury® program fielded in September 2023.
About Coldwell Banker Global Luxury®
The Coldwell Banker Global Luxury® program legacy traces its roots to 1933 and has been a world leader in luxury real estate since. Coldwell Banker Global Luxury Property Specialists are an exclusive group within the Coldwell Banker® system, making up under ten percent of independent sales associates affiliated with the brand worldwide. Coldwell Banker affiliated agents conducted 48,444 transaction sides of homes priced at $1 million or more in 2022. This equates to $288 million in daily luxury sales with an average sales price of $2.2 million in this category.* Coldwell Banker, the Coldwell Banker logo, Coldwell Banker Global Luxury and the Coldwell Banker Global Luxury logo are registered marks owned by Coldwell Banker Real Estate LLC. Each franchise is independently owned and operated.
*Data based on closed and recorded buyer and/or seller transaction sides of homes sold for $1 million or more as reported by affiliates of the U.S. Coldwell Banker franchise system for the calendar year of 2022. USD$.
Coldwell Banker Real Estate LLC
G&S for Coldwell Banker Real Estate LLC
SOURCE Coldwell Banker Global Luxury