What do I need to know before I buy a luxury property?

On the one hand, elite real estate satisfies the buyer's basic need for housing, and on the other hand, it emphasizes his or her wealth and high social status. Buyers of prestigious apartments often consider them as a way to invest their capital profitably. Elite apartments in Kiev have prerequisites for appreciation mainly due to the growing demand, as well as relatively low prices compared to the same segment at the foreign markets.

Elite real estate still occupies a small part of the market in Ukraine. However, the growing interest in exclusive apartments has a positive effect on the development of this housing segment.

What is luxury real estate?

There are different definitions of luxury apartments in the real estate market. Elite apartments are considered to be apartments in the "after builder" condition with a sales price of 5 million hryvnia and more.

The amount of 13 million hryvnias (literally, half a million dollars) is reserved for the so-called deluxe market. By the way, the prices of luxury apartments are gradually beginning to move up, because other instruments for investment demonstrate a decrease in profitability.

There are several factors that affect the prestige of housing, and therefore its price. First of all, it is the location. Luxury properties are usually located in very attractive locations: in the heart of the city or in a prestigious area.

This class of housing also has a larger area, beautiful views from the window, designer interiors, and finishing materials of the highest quality. In addition, luxury apartments in Kiev or another large city provide a number of amenities that are at the disposal of residents:

parking lot,

Spa area,

sauna and fitness,

swimming pool and gym,

often also a restaurant and cafe.

The services of elite residential complexes include a concierge service, i.e. a round-the-clock service to manage both the apartment and the residents' personal affairs. Needless to say, such housing is under constant video surveillance and security.