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How High-End and Super-Luxury Condos Differ from Regular Condos
26 āļ.āļ. 2022
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The market for high-end and super luxury condos, despite having had to weather diminished consumer purchasing power and an economic slowdown caused by the COVID-19 situation over the past two years, continues to experience customer activity and still has momentum.
This is especially true for projects situated in âgoldenâ locations, as they remain attractive options for those consumers with high purchasing power.
The reason for this attraction is the fact that luxury projects are generally located in rare, desirable locations in the city centre. As land prices have appreciated greatly running up to the present, it has become extremely difficult to acquire or merge land plots into a big enough area for property development.
These developments have thus become highly valuable, both for the present and when considering their long-term value increase. Such properties can be held as assets to be passed on to children and grandchildren, or as investments. This fact is key to said propertiesâ attractiveness for clients.
On top of the appeal of a prime location, part of the allure of luxury condos stem from the distinguished design of the project.
A case in point is 98 Wireless. This freehold super luxury condo on the central stretch of Wireless Rd. was created in accordance with project design and architectural consultation by leading design and advisory firms from across the globe. Precious art pieces found in the common area include antique wood and leather furniture, as well as high art drawings.
Also found in the common area is a study that hosts a collection of old books dating from the World War eras. The property projectâs Bentley limousine was custom-made for use in servicing residents. Another example is the KHUN by YOO luxury condo in central Thong Lo that was designed by world-renown designer Philippe Starck.
Both the exterior architecture and interior design are highlights of the condo. Auto parking and EV charger are some of the modern amenities available at the project.
The fact that projects in this category generally use high-value materials and decorative items necessitates a level of care that exceeds the regular standard. The juristic entity that looks after a high-end or super luxury development must have the proficiency, understanding and attention of a professional.
This goes for the aspects of knowledge, maintenance and cleaning. The slightest error may result in a depreciation of high-value decorative materials, whereas the correct practices in looking after them will promote value appreciation.
Servicing clients with specific needs requires personnel who are proficient and able to deliver services that are specially designed to respond to the living demands at the particular residential development. To illustrate, the management at super luxury condos serviced by Plus Property benefit from special training courses delivered by specialists.
Knowledge acquired from these specialists is used to develop exclusive services at each property project.
The butler curriculum, conducted by specialists who have experience looking after the royal family in England, is one example. The curator curriculum that produces personnel with the proper knowledge and maintenance skill for high-value assets is another. Said curators are trained by experts from the Fine Arts Department, and work to keep items in good condition and preserve their value over time.
A personal assistant curricula, delivered by instructors with great experience in affairs at 5-star hotels, is also at hand. Many other curricula exist and are custom-designed for individual residential projects.
The aforementioned special services are available at luxury projects managed by PLUS. The butlers offer their services at 98 Wireless and The Monument Thong Lo. The Personal Assistants (PA) are on hand at NIVATI THONGLOR 23 to address the lifestyle needs of individual residents. Concierge teams, meanwhile, are deployed at KHUN By YOO, and the Guest Service Agents at The River.
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Part of the appeal of luxury condos stem from the meticulous designed effort that has been put in so as to meet the requirements of niche clients. High-value decorative materials further promote the value of the building.
As such, selecting a project within this category for purchase entails a deliberation over the juristic person management team that oversees the project, on top of the projectâs type, location, quality and amenities.
The juristic person team is the all-important after-sale service providers and overall caretakers of the property project. Having a professional team allows property owners to rest assured that the project will continue to receive special services from capable caretakers who will contribute to the projectâs attractiveness, liveability and good condition.
As the project will be kept pristine in the same manner as on the first day of handover, its value will likely rise year after year. The property owner can then proudly pass it on to the next generation as inheritance.
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