When it comes to high-end real estate, several factors contribute to making a property luxurious and expensive. These factors include the cost, square footage, location, view, and amenities. High-end properties typically start at $1 million and can go much higher. They are often several thousand square feet in size and feature luxurious elements that give them an air of luxury.
Defining high-end properties can be subjective, as it depends on factors such as location and market conditions. Nonetheless, there are certain cities that real estate professionals consider to be top locations for high-end real estate. Here are seven of their favorite cities for luxury properties:
1. Miami: Miami offers many high-end communities within its borders, with home prices exceeding $6 million in areas like Snapper Creek Lakes. The city is known for its exponential growth and developers are continually raising the bar with luxury high-rise residential units.
2. New York: New York City, known as the city that never sleeps, offers diverse luxury residential options in Manhattan, Brooklyn, and Queens. The median listing price in Manhattan is around $1.5 million, while Brooklyn is just shy of $1 million.
3. Los Angeles: Home to celebrities and affluent individuals, Los Angeles is a popular destination for high-end real estate. The median home listing price in Los Angeles is around $1.2 million, and the city’s unique culture and landscapes attract luxury home buyers.
4. Sunny Isles, Florida: Located within the Miami metropolitan area, Sunny Isles is a small community on a barrier island. With a median home listing price of around $1.1 million, Sunny Isles boasts some of the most desirable condo buildings in South Florida, offering top-of-the-line amenities and exclusivity.
5. Park City, Utah: For those who love outdoor activities like hiking, mountains, and snow skiing, Park City is a desirable location. Home to major resorts like Deer Valley and Park City Mountain, it offers residences with large square footage and a median listing price of $2.1 million.
6. Fort Lauderdale, Florida: Fort Lauderdale is another Florida location where luxury real estate can be found. With a median listing price of $735,000, the city offers upscale amenities, beautiful beaches, and stunning landmarks. High-end properties can be found in neighborhoods such as Seven Isles, Coral Ridge, and Las Olas Isles.
7. Abu Dhabi, United Arab Emirates: For those seeking a more international destination, Abu Dhabi, the capital of the United Arab Emirates, offers limitless luxury and entertainment options. The city attracts international investors and offers luxury homes that make any investor feel like royalty.
Ultimately, luxury and high-end living are subjective and vary based on individual preferences. Amenities and features such as large windows, stunning views, smart home technology, and high-quality appliances contribute to defining luxury properties. Exclusivity, neighbors, nearby attractions, and access to opportunities also play a role in creating a luxurious living experience.
In conclusion, these seven cities offer some of the most desirable locations for high-end real estate, with each city offering its unique features and attractions. Whether it’s the vibrant culture of Miami, the energy of New York City, or the luxury amenities of Abu Dhabi, these cities provide opportunities for individuals seeking a lavish lifestyle.