Ticino Welcome N°60 - December 2018, LIVING LUXURY WORLDWIDE
Abitare il lusso nel mondo
UELI SCHNORF AND PHILIPP PETER, OWNERS OF WETAG CONSULTING, EXPLAIN HOW THE CONCEPT OF LUXURY LIVING VARIES IN DIFFERENT PARTS OF THE WORLD AND HOW IT IS ESSENTIAL TO KNOW ALL THE SPECIFIC NEEDS OF AN INTERNATIONAL CLIENTELE.
What are the main characteristics that define the luxury housing market around the world?
"There are three elements that are usually taken into consideration to identify the objects that contribute to defining the luxury market. Firstly, you have to consider the price level. Analyses among brokers in 100 luxury destinations around the world show that you start with luxury on average at $2 million, but this varies greatly from country to country. In Durban a luxury home can be found from $800,000, in Beverly Hills it starts from at least $8 million. A second aspect to take into account concerns the intended use, i.e. whether one is looking for primary residences, as in the case of large cities and their suburbs; or houses, especially villas, in the most exclusive holiday destinations, or in locations that are traditional destinations of the international jet set. Finally, a further element to be taken into account concerns the internationality of the destination: on the island of St. Barth it is as high as 100%.
Once a market has been determined, what factors influence its performance?
"Each market is a complex organism in which different elements interact. Let's look at four main criteria: its value is defined by the maximum prices that are paid; the level of risk is indicated by the fluctuations in prices over time; liquidity can be assessed on the basis of sales times: for example, compared to an average of 6 months in the world, in Ticino it takes around 2 years to complete a sale. Finally, the seriousness of a market is determined by the difference between the price requested and the price actually paid: in this sense, our company is in a very good position because we manage to keep the variation below 10% on average".
As far as the specific Ticino market is concerned, what future forecasts can you make?
"The luxury market is small in numerical terms, and so in Ticino we are talking about a few dozen sales each year. Nonetheless, on the one hand it represents an extraordinary opportunity because it is possible to direct one's real estate proposals to a highly qualified public that expresses well-defined needs and that must be understood and followed at every stage of negotiations. On the other hand, it implies greater professionalism, since a precise profile of potential buyers must be drawn up, analysing in depth what their real availability and expectations are. The greatest unknown factor regarding the future lies in the choices made by politicians and the ability to recognise that the luxury market is of great importance to the whole of Switzerland, and therefore also to Ticino. This awareness should consequently be followed by those support actions that are still lacking".
What are the main demands coming from high-end buyers looking to Ticino?
"Today, people are mostly looking for recently built, functional real estate units with all the necessary amenities. Therefore, there is increasing interest in residences that can be defined as "modern", i.e., equipped with systems and technological features in line with the needs of contemporary living. Consequently, residences built in the 1950s and 1970s are finding it more difficult to be placed on the market. In this sense, we have witnessed a profound transformation in the demands of a clientele of which about 50% comes from abroad and the rest mainly from inland Switzerland".
In short, what are the other essential plus points for a luxury residence in Ticino?
"First and foremost, a beautiful location and privacy, i.e. the possibility of living a private and quiet life without intrusion from prying eyes. Good accessibility should also not be underestimated, in terms of the ease of general external connections (roads, motorways, railways, airports), but also the connection between the property and the local road network".
WETAG CONSULTING IMMOBILIARE SA
Luxury Real Estate for sale in Ticino, Switzerland
Riva Antonio Caccia 3
CH-6900 Lugano
Via Antonio Ciseri 13A
CH-6600 Locarno
Via Monte Verità 1
CH-6612 Ascona
www.wetag.ch
www.journal.wetag.ch
[email protected]
+41(0)91 601 04 40
