Luxury property: mansion buyers want bells and whistles

The uber rich are happy to fork out on luxury homes, but have demands.

Pierre Cardin’s Bubble Palace is on the market for $US355m.

If you have to ask the price you probably can’t afford one, but the uber rich are amping up their requirements for luxury accommodation whether they want to spend $10 million or $250m on an opulent mansion.

The latest housing requirements are at least two kitchens — one commercial — as well as a panic room and basketball courts that transform into ballrooms.

A helipad and ice rink will also not go astray, and proximity to an airport for the private jet and 15-plus car garages are frequent ­requests.

“This year we have seen ice-hockey rinks with Zambonis (ice resurfacers) and warming areas, a BMX pump course, and an irrigated regulation soccer field,” Christie’s International Luxury Refined report says.

“One noteworthy home had a slide directly from the master suite to the backyard pool.

“While indoor basketball courts have been a staple of luxury homes for some time, there is one in Portland (in the US state of Oregon) that comes with an ingenious twist; it transforms into a formal ballroom, complete with chandeliers and sound systems for grand-scale entertaining.”

For the first time the world’s 10 most expensive reported residential real estate sales each exceeded $US100m ($133m) last year, with the top sale registering in Hong Kong for $US270m. But a new benchmark may also be looming, Christie’s International says.

“In the South of France, persistent rumours suggest one palatial estate comes with a €1 billion ($1.5bn) price tag.”

But the definition of luxury mansions differs. Luxury can be defined as less than $US1m in Costa Rica, while they start at $US10m-plus in Monaco, one of the world’s most expensive destinations.

Christie’s International says the average $US1m house will include two to five bedrooms, will be located in a smaller city or suburban area, and will include an upgraded kitchen or bathroom and possibly views.

While $US1m will buy a one-bedroom apartment in Cannes in the South of France with a sea view over Croisette Palm Beach, or a single level three-bedroom home in Kaiteriteri on New Zealand’s South Island, in Cape Town, South Africa, $US1m will buy an 11-bedroom single-level seaside family home with False Bay views.

And $US5m buys much more including three to six-bedroom apartments or townhouses in prime urban areas or jetset resort markets. For instance $US5m buys a two-bedroom apartment in New York, or a 10-bedroom Renaissance estate in Cognac, France.

A price tag of $US10m buys four to eight bedrooms with at least two of these features adored by the spankingly rich: upgraded kitchen and or bathroom in a mid to top-tier location with panoramic views and proximity to lifestyle offerings.

It buys a 20-bedroom historical country estate with “royal allure” in the Netherlands’ north, or a three-bedroom beachfront home in Makena, Hawaii fronting Secret Beach.

Homes valued at $US50m or more include five to 15 bedrooms, ultra-premium bathrooms and kitchens, up to four parking spaces in an apartment and 10-car garages in a house, a wine cellar and staff accommodation.

When you hit the $US100m realm buyers can expect 10-20 bedrooms with multiple kitchens, unparalleled views and panic rooms as well as unique amenities tailored to the individual owner. And $US100m buys a 24-bedroom property in Marrakech, Morocco or a 17-bedroom mansion in Los Angeles.

More than 10 bedrooms is expected if a home has a price tag of $US250m. “Properties offered at a quarter of a billion dollars or more are a showcase for the world’s most unique and beautiful home amenities,” Christie’s International says.

The properties will include art gallery spaces, unparalleled views, hi-tech and enhanced security including panic rooms. There will be parking for more than 15 cars, helipads and top-quality sporting or leisure facilities.

Homes in this category are on the market in Los Angeles including a newly constructed 12-bedroom house with rooftop helipad. In France, agent Michael Zingraf is selling a 10-bedroom mansion on the Cote d’Azur.

But as Christie’s International notes, while luxury properties priced at $US20m and above continue to capture headlines, the number of ultra-luxury homes that are actually on the market is quite small.

“In fact, there are only around 1500 residences publicly available for sale over $US20m worldwide and 34 above $100m.

“Many of these homes are clustered in select geographies, with Hong Kong home to the most listings priced at $20m and above.”