What is luxury property?
To my knowledge, there is no proper specific definition for “luxury property” in Singapore. Words give perceived value to products and services. Just ask a marketing manager for an MNC and you will get the same answers. So a marketer for a particular property can use the term “luxury” in it’s marketing material to enhance it’s perception without being misleading as there is no specific definition of what is “luxury property”, “luxury living”, or “luxury condominium”, etc. It is just a matter of opinion. An agent feels that the property is luxurious, therefore the use of those words justifies the use of them in marketing materials.
A lot of people feel that furnishing and interior design also make up luxury living. However, I disagree. High quality interior design can be mimicked easily by home owners to make living more conducive. It is not something exclusive only to the rich and successful.
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What makes luxury property, luxury property?
Being very much involved with the new construction market, we are seeing that lately, it seems to be all about the amenities - the more elaborate and unusual, the better. Function or gender-specific rooms are another thing we hear more about - some of which border on the ridiculous.
However, architecture really looks as though it is becoming more and more grandiose.. the phrase "starter castle" is very appropriate for our area!