When thinking about prestige property, you can’t go past celebrity homes – whether it’s their inner city apartment to escape to, or a sweeping mansion tucked away in the Hollywood Hills, the A-list crowd certainly know how to scoop up incredible homes.
Over the years, the leading publication Architectural Digest has had the opportunity to take a guided tour within the homes of some of the most well-known stars in fashion, music and acting – so let’s take a look at what celebrities love about their own prestige properties, and the touches they add to make their home extra special.
Just like his personal style, Elton doesn’t shy away from extravagance when it comes to property. Of course, the star doesn’t just reside in one place, and has properties everywhere from Old Windsor, to London, Atlanta, and even in Nice. Of all these locations, he spends a significant portion of his time in his Los Angeles mansion, purchased in 2021 for over $7 million USD.
Another celebrity with a broad prestige property portfolio, the star, most famously known for her role in Friends, owns several properties in Los Angeles, with her current residence being a Bel Air mansion valued at almost $21 million USD.
Now the founder of a successful hair care line, Aniston enjoys the creative process of making a property her own, saying “If I wasn’t an actress, I’d want to be a designer. There’s something about picking out fabrics and finishes that feeds my soul.”
Importantly, Aniston aims for all her homes to be welcoming when she entertains guests – wooden accents, warm tones and soft lighting, Aniston describes her aesthetic in a nutshell as “A big hug.”
Consistent growth is key here, with the wider real estate market also seeing a drop and then rebound post-2020. So when it comes to human behaviour, what else is at play here?
The ultra-wealthy, and those who are likely to have significant existing property portfolios, certainly weren’t able to continue their usual spending patterns across the pandemic, especially in relation to travel and other lifestyle outlets like fine dining, entertainment and even luxury shopping in-person.
So, with all those extra dollars, it made sense to put their additional funds into further prestige properties. Globally, prestige buyers continue to see Australia as a highly coveted location to have a home (whether for holiday or investment purposes).
Another key factor is that prestige property buyers often are looking for additional homes to expand their portfolios, so they aren’t always putting other properties on the market, meaning new homes are quickly being snapped up.
If you are interested in knowing what your prestige property is worth, get in touch with the team at Mercer & Cooper today. At the moment, we are also offering a complimentary property appraisal, so stay in the know and get the relevant market information from the experts in all things prestige.
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