Shifting lifestyle patterns and tech advances suggest that several one essential luxury real estate features may soon become obsolete. Trend experts have identified four staple luxury features which may soon disappear:
Home theatres give way to VR environments:
In the homes of the ultra-wealthy, home theatres have evolved in recent years from supersized screens and digital projectors to $1m personal Imax theatres. Such an investment may, however, prove ill-advised warn trend experts, as top-end buyers are increasingly requesting fully-immersive virtual reality (VR) environments. This trend is expected to accelerate, as tech advances make VR cubes and screens increasingly affordable.
Desire for privacy will see the demise of sprawling master suites:
Large, sprawling master suites were once the ultimate trophy asset in a luxury home. Now, however, the desire for privacy among the growing millennial market is expected to see these expansive bedrooms being replaced by a series of smaller, cosier spaces. Instead of a single large, open-plan master suite, future bedrooms are likely to include an antechamber, like a study or library, plus a large dressing area and spa-like bathroom.
The desire for privacy is also resulting in the rise of so-called “accessory apartments” – a second, studio home in the same luxury development as the primary residence. This allows boomerang 20-something children privacy when moving back home with their parents.
Ride-sharing and driverless cars to reduce demand for garages:
The rise of ride-sharing services and driverless cars will significantly reduce the space allocated to parking vehicles. Developers are increasingly focusing on making parking spaces flexible. By increasing ceiling heights and ensuring more natural light, developers are creating parking spots that can be converted for office or residential use at a later stage.
With more vehicles lining up outside luxury properties to collect or drop off residents, a lavish driveway is rapidly becoming more essential than ever.
Delivery services and residents-only restaurants replace showcase kitchens
While some luxury property developers are introducing “his and hers” kitchens, insiders believe the large, centrepiece kitchens are likely to become obsolete. The emergence of app-powered food delivery services and the inclusion of residents-only restaurants – sometimes featuring Michelin-starred chefs – is allowing the ultra-wealthy to abandon the kitchen for in-house catering and takeaway services.
Finally, 3D printing will allow homeowners to create specific housewares for a dinner party, minimising the need for storage, while 3D printers for food could ultimately allow homeowners to dispense with cooking entirely.
