Luxury Real Estate Trends: What Industry Experts Predict for 2021
After the profound changes that took place in 2020, the luxury real estate industry is still feeling the aftershock. The way we see home has shifted significantly, and the same goes for the way we buy and sell properties.
As the countries around the world continue to heal, so do their economies. We’re seeing a lot of new trends popping up in all the different industries, and real estate is no exception. Whether you are a homeowner in the market for luxury properties or a real estate agent who wants to stay ahead of the curve, staying on top of the changes in the luxury market can benefit you in more ways than one. With that in mind, here are four luxury real estate trends to watch for in 2021, according to industry experts.
The use of natural materials
One of the biggest trends experts are expecting to continue throughout 2021 is the extensive use of natural materials. We’ll be seeing more builders and architects using materials such as wood as a way to be environmentally responsible. Materials like these emit fewer harmful emissions, and they require less energy to produce, meaning they’re better for the planet.
Other than being a sustainable choice, natural materials are also more practical while also carrying a particular aesthetic value. They introduce warmth and sophistication to luxurious interiors while also being a long-lasting option that works with various styles. Another thing worth mentioning is the timeless appeal of natural materials. Similar to marble and stone, wood is something that never goes out of style. It’s used for everything from kitchen countertops to paneling, and industry experts expect to see this material everywhere in 2021.
The focus on new construction and development
COVID-19 hasn’t only affected our work and lifestyle – it’s also spurred a change in homebuyer preferences. After a year of working and relaxing at home, many of us came to a realization that they need more space. To meet these new space requirements, the focus has shifted to new construction and development of larger homes. What’s more, builders are re-developing their plans to meet new buyer preferences. As a result, we have more luxurious real estate properties boasting features such as touchless technology and spacious home offices.
That said, luxury homes aren’t that easy to find when searching online. The reason for that is the fact that these properties will often go unseen on public listings. Because of that, working with a reputable real estate agent is highly recommended when looking to purchase a home. Not only will they help you navigate the homebuying process more easily but also find the right property for you.
The demand for smart homes
Given the pace at which modern technology is progressing, it makes sense that it’ll be increasingly integrated in future homes. Modern technology does, after all, play a vital role in our daily lives by making them easier and more convenient. And by increasing home tech IQ, real estate developers are able to appeal even more to prospective buyers.
From app-controlled appliances and voice-recognition software to automated lights and electric roller shutters, home automation systems are slowly becoming the norm in modern homes. Some of them help slash our energy bills, while others simply make our day-to-day operations much easier and more efficient. Because of that, luxury real estate buyers have come to expect smart homes to become a standard these days. Given how far modern technology has come, experts are quite eager to see what 2021 has in store for us.
Accent on outdoor living
Speaking of outdoor spaces, another major trend real estate experts are predicting is the rise of outdoor living in 2021. Luxury homes are witnessing a major surge in upgrades and add-ons that make enjoying the great outdoors even more pleasurable.
As an escape from all the noise of the outside world, more modern luxury homes are choosing to include rooftop hot tubs and swimming pools in their building design. Other than serving as peaceful getaways with beautiful views, these add-ons are also effective in boosting a home’s curb appeal. Colorful outdoor decks and front yards are some other important trends we’ll be seeing more of in 2021. The same goes for enclosed outdoor spaces, outdoor kitchens, edible gardens, and matching indoor and outdoor styles.
After a tumultuous year that 2020 was, it is quite refreshing to see new trends popping up and the real estate industry slowly recovering from the impact of the COVID-19 pandemic. Nevertheless, there is still a long way to go, and securing growth in 2021 will mean adjusting to the ever-evolving homebuyer preferences and relying on the aforementioned trends to navigate the still-uncharted waters more easily, thus helping move the industry forward.
About The Author: Carrie Davis is an American based writer and blogger. She is very passionate about family and parenting. Carrie writes mostly lifestyle articles, but also you’ll find her in home improvement and other niches.
Photo by Spacejoy on Unsplash
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