Luxury is an evolving concept, one that reflects changing social norms and emerging trends – and as we head into 2020, the products associated with wealth are demonstrating a remarkable shift among the upper class. Forget a staid mansion and a Rolls-Royce. Today’s upper-class are investing in wellness, branded residences, and yacht-inspired design to demonstrate their status. Whether you’re personally looking to invest in such high-end properties or just on trend watch, keep a look out for these 3 trends transforming the luxury marketplace. 2020 is going to be a big year.
Bring The Spa Home
Wellness is a buzzword at every level in today’s world, from your local newspaper to the gym and even at work, but the classic way to be pampered is to head to the spa. With that in mind, a growing number of wealthy homeowners are redesigning their home bathrooms to include spa-style amenities, including large walk-in showers with benches and heated floors.
With their expansion, some designers have come to refer to the new master bedroom and bath combos as master retreats. They combine larger bathrooms and closets on display, though minus the sitting areas that used to be a popular part of these suites.
Superyacht 2.0
Yachts have long been a marker of wealth and yacht ownership remains popular. Buyers can work with a boutique new and used yacht sales company to find the perfect boat for their needs, but for some that’s not enough. No, some luxury buyers want to bring the seafaring experience home, leading to home architecture inspired by superyacht design.
Superyacht-style homes borrow architecture from ship shapes, such as that of a prow cutting through the water, floor to ceiling windows, and sweepings staircases straight off the Titanic. And because ship engineering has always made the most of small spaces, those living in more cramped urban markets can enjoy ship-inspired design in their apartments. Furniture is multifunction and the delineation between rooms is smooth yet subtle, with carefully engineered sliding doors and elegant kitchens. Forget the old-fashioned houseboat; superyacht homes are the future.
Fashion Expands It Reach
Fendi, the Italian fashion house, has long been part of the luxury lifestyle stable, but dressing the wealthy is no longer enough. More recently, the brand has brought their stylings to the real estate market, announcing plans to open 41 private residences in Scottsdale, Arizona in 2020. These bespoke units are just the latest addition to the fashion-forward housing market, though. Armani, Versace, and Missoni all recently entered the real estate market, establishing properties in Miami and Manhattan, among other locations.
Expect more high-end brands to enter new sectors or partnerships in the next year as companies come to recognize the value of collaboration. Until recently, luxury brands emphasized purity; their buyers were what were known as “absolute luxury shoppers.” Now, these same buyers seek a mix of styles that express their individuality. Personalization is vital at every level.
There’s no one way to craft a luxury lifestyle and much of what we’ll see in 2020 would have been illegible – or perhaps unthinkable – just a few years ago. These cutting-edge stylings represent new, youthful affluence and a diversification of this sector, and it’s just the beginning of what’s to come in this arena as wealthy millennials reshape a stodgy marketplace.
