Latest news with #luxuryreport
Daily Telegraph
6 days ago
- Business
- Daily Telegraph
Price shock: Luxe Aussie mansions now start at $2.52m
AustAsia's luxury property sales are booming with the price tag for a bougie home now starting at $2.52m – up 72 per cent from 10 years ago, new data shows. According to Ray White's second Australia's Luxury Report, Sydney remains Australia's most expensive market with buyers needing to find a cool $4m to afford a home with all the trimmings. The Gold Coast ranked second at $2.6m, pushing ahead of Melbourne's $2.49 million entry point. The Sunshine Coast in Queensland also ranked in the top five at $2.4m, followed by Brisbane and Perth, where the average luxury home now costs $2.1m. Meanwhile, the starting point for a bougie home in Adelaide and Canberra has climbed to $1.9m, with Darwin the only capital remaining to offer luxury living under $1m. RELATED Mansion that hosted Rolling Stones, Frank Sinatra sells for mega price Telenet CEO pays $12.1m 'record price' for house with no parking Record warehouse seller emerges as $15m buyer of rare penthouse Luxury homes are generally defined by their use of premium materials and exceptional finishes, including finest marble countertops, rare hardwood floors, and custom cabinetry. 'More than just a price point, luxury represents the pinnacle of craftsmanship, attention to detail, and scarcity within a market,' Ray White senior data analyst Atom Go Tian said. 'It varies dramatically by location; what's considered standard in Sydney might be exceptional elsewhere in Australia. 'From a national perspective, luxury properties in Australia now command prices exceeding $2.52 million, representing a 72 per cent increase from $1.49 million a decade ago.' RELATED: Rose Bay mansion with James Packer link has $90m hopes Mr Go Tian said a staggering $663 million changed hands across just 20 transactions over the past year, revealing not only where Australia's wealthiest choose to live, but also who they are and how their wealth was created. 'Eastern Sydney continues to be the place to be, with the Double Bay-Bellevue Hill and Rose Bay-Vaucluse-Watsons Bay enclaves accounting for more than half of all top transactions,' he said. 'Bellevue Hill alone appears five times on the list, while Vaucluse claims four spots. Beyond Sydney's harbour views, Melbourne's old-money suburbs of Toorak and Brighton each secured positions, while lifestyle destinations like Noosa Heads, Byron Bay, and Portsea also featured prominently.' MORE NEWS: Bulldozed Toorak block asks $40m+ for dirt The crown jewel of these transactions stands as 'Alcooringa,' a Spanish Mission-style residence perched majestically at 27 Victoria Road, Bellevue Hill. Top agent Ashley Bierman of Ray White Double Bay negotiated this off-market sale. The architectural masterpiece commanded an eye-watering $80 million; a figure that towers over even its closest competitor by $30 million. Mr Go Tian said expensive homes are changing hands in new ways. 'Today's ultra-luxury property buyers are primarily self-made business owners, especially those who built digital and tech companies, rather than corporate executives who once dominated this market,' he said. 'The wealth behind these purchases now comes from a much wider range of industries, with online businesses and technology ventures leading the way.' MORE NEWS: Musician snaps up one of nation's most popular homes An analysis of this year's top 20 sales reveals today's luxury purchasers are predominantly self-made entrepreneurs from diverse sectors including e-commerce, property development, financial services, fashion, and technology. The report shows the architectural and landscape features of Australia's most expensive homes reveal sophisticated investment priorities, with wellness facilities, sustainable elements, and indoor-outdoor integration now considered essential rather than optional. Properties with comprehensive wellness features command price premiums of 10-25 per cent, reflecting a fundamental shift in what constitutes luxury in today's market.
Hospitality Net
19-05-2025
- Business
- Hospitality Net
Preferred Hotels & Resorts Launches the Luxury Travel Report 2025
NEW YORK, NEW YORK – Preferred Hotels & Resorts, the world's largest independent hotel brand representing more than 600 hotels across 80 countries, today released its first Luxury Travel Report — a comprehensive luxury consumer trends study developed in partnership with The Harris Poll. The findings affirm that the desire for travel remains robust, with luxury travelers planning an average of eight leisure trips this year — including three international journeys — and over half expecting to spend more on travel than in 2024. The Luxury Travel Report by Preferred Hotels & Resorts reveals that today's affluent travelers are investing not just money but meaning into their journeys. Luxury travelers seek immersive, curated experiences that feel personal and enduring— avoiding generic, mass-produced offerings in favor of authenticity and emotional connection. The Luxury Travel Report identifies The Five Emerging Forces of Luxury Travel, signaling a new era of expectations: 1. The Beige-ification of Travel Is the Industry's Wake-Up Call Luxury travelers are turning away from sameness in design, service, and experience—nearly 70% say modern luxury hotels have lost their soul to standardization. The rise of 'dupe culture' and algorithm-driven itineraries has fueled a wave of 'destination disillusionment,' where cities and stays feel indistinguishable. Today's affluent traveler craves the unrepeatable: places that excite, environments that surprise, and experiences rooted in individuality. Nearly three-quarters say they won't pay for luxury accommodations that feel generic. 2. Legacy Moments Are the New Luxury Currency Luxury is less about accumulation – it's about transformation. Today's affluent travelers seek rare, authentic experiences that fundamentally shift their worldview and create lasting memories. Over four-in-five say that insider connections unlock the most unforgettable travel moments and 64% prefer to navigate a destination with advice from locals rather than AI-driven concierge services and digital guides. 3. Curation Is the New Standard of Luxury Curation is now as essential as five-star service. Over 90% of luxury travelers say the best journeys feel effortless yet are expertly crafted, with 89% expressing interest in seeing local charm reflected in hotels. Travel advisors are the new power brokers, with 84% of survey respondents agreeing that a trusted travel advisor is more valuable than unlimited internet research. 4. Heritage Is the New Frontier Luxury travelers don't want to just observe history – they want to be part of it. Over 90% seek experiences that immerse them in history and culture, favoring heritage-rich stays. Additionally, with 71% planning multi-generational trips in 2025, demand continues to rise for spacious accommodations that foster connection to each other and their own family roots. 5. Loyalty Programs Are Lifelines to Consistency and Customization Amid economic pressures and rising costs, loyalty has become more valuable than ever. For 82% of luxury travelers, loyalty programs are very important to ensuring hotel quality, while nearly two-thirds say a great past stay drives repeat bookings. Today's loyalty isn't transactional — it's deeply personal, driven by human touch, customization, and consistent excellence. The Luxury Travel Report by Preferred Hotels & Resorts deepens our understanding of the ever-evolving desires of luxury travelers, which is a critical step in reinforcing authenticity and spotlighting the unique, curated experiences that can be found throughout our global portfolio. We are guided by an ethos that celebrates an independent spirit, transformative experiences, and we remain committed to delivering authentic, memorable stays through our 'Believe in Travel' ideology. Through the Report, we hope to inspire meaningful experiences that resonate with the luxury travel set. Lindsey Ueberroth, Chief Executive Officer of Preferred Hotels & Resorts The Luxury Travel Reportwas conducted by The Harris Poll on behalf of Preferred Hotels & Resorts from February to March, 2025, among over 500 affluent U.S. travelers. Respondents met criteria including an annual household income of more than $250,000, at least $1 million in total assets, and a minimum spend of $10,000 on leisure travel annually. Explore the full findings of The Luxury Travel Report 2025 at About Preferred Hotels & Resorts Preferred Hotels & Resorts is the world's largest independent hotel brand, representing more than 600 distinctive hotels, resorts, residences, and unique hotel groups across 80 countries. Through its curated global collections, Preferred Hotels & Resorts connects discerning travelers to the singular luxury hospitality experience that meets their life and style preferences for each occasion. Every property within the portfolio maintains the high-quality standards and unparalleled service levels required by the Preferred Hotels & Resorts Integrated Quality Assurance Program. The I Prefer™ Hotel Rewards program, Preferred Residences℠, Preferred Pride℠, and Preferred Golf™ offer valuable benefits for travelers seeking a unique experience. For more information, visit AboutI PreferHotel Rewards Launched in August 2013, the I Prefer Hotel Rewards program from Preferred Travel Group – the parent company that operates hotel brands Preferred Hotels & Resorts, Beyond Green, Historic Hotels of America, and Historic Hotels Worldwide – extends points, status, and other complimentary benefits to members upon eligible stays at over 600 participating hotels and resorts worldwide. In addition to earning points for eligible room nights, members receive additional benefits based on their tier status. The I Prefer program also offers a free mobile app, available on Apple and Android devices, which allows members to search and book hotel stays, and easily redeem Reward Certificates. With 5 million travelers currently enrolled in membership, I Prefer is complimentary to join. To learn more and to enroll in the program, please visit Jennifer Jackson Senior Director, Public Relations – Americas Preferred
