Home trends in the luxury market serve as a guideline for the broader real estate landscape, influencing design preferences, consumer expectations, and market dynamics across all segments.
Luxury properties set new standards for innovation, quality, and lifestyle amenities, and their influence trickles down to the general market, shaping buyer preferences and drive demand for upscale features and finishes.
The luxury market not only adapts to current demands but also influences future lifestyles, setting the pace for the broader real estate industry.
These homes embody opulence and elegance – a tangible symbol of wealth.
From island villas to urban estates, luxury homes are the quintessence of refined living, carefully curated to showcase affluence.
“As affluent buyers seek exclusivity and customisation, architects and designers introduce innovative materials and state-of-the-art technologies to create unique havens of comfort, functionality, and sophistication, says Yael Geffen, chief executive of Lew Geffen Sotheby’s International Realty
Several key trends have emerged in the realm of luxury real estate.
Here are the top five luxury home trends shaping the market in 2024:
Customisation and personalisation
In 2024, luxury properties offer customizable features and finishes, allowing homeowners to express their individuality and create personalised living spaces that reflect their tastes, interests, and aspirations.
From custom-built cabinetry to bespoke furnishings and artwork, every aspect of the home is carefully curated to align with the homeowner's vision, resulting in one-of-a-kind residences that exude luxury, sophistication, and personal style.
Timeless and traditional elegance
2024 has witnessed the revival of timeless and traditional designs beyond modern trends and fads: antique decor, intricate mouldings, statement heirloom pieces, rustic accents, and grand proportions in spaces to create harmony between old and new.
Timeless designs embody elegance and sophistication, honouring traditional architectural techniques and aesthetics that transcend time and ensure lasting value.
Quiet luxury
This trend places emphasis on classic, investment pieces that you can build a room around. Timeless pieces in classic shapes and silhouettes can have many lives and be revived through re-upholstery.
Luxurious, soft, textured fabrics, warm rich woods, and quieter patterns for large furniture reign supreme.
Bespoke artistry as the focal point
Luxury homes also serve as a canvas for artistic expression, originality, and creativity. Pieces like custom-made furniture, hand-crafted decors, colourful murals, unique sculptures, and striking paintings are infused into a luxury residence’s design to transform it into an environment that goes beyond only a living space.
Innovative materials
Now is the time to push the boundaries of interior design and architecture by using unconventional materials with innovative applications like seaweed and paper furniture, composite stone walls, 3D-printed decor, and even nanotech finishes are a great way to add uniqueness without sacrificing functionality.
Contemporary pieces and fixtures developed with innovative materials, like recycled plastics and fibres grown from fungi, will continue to break through the noise.
What's out?
Whilst many existing trends will endure for some time, the following are definitely out this year:
Minimalism
2024 is the year to banish sterile environments and embrace things that really reflect you and your passions. Layer up with textures, textiles and styles.
All-white kitchens
The all-white cabinetry is giving way to colour; every shade of green is very strong, along with pastel shades and bold blues. 2024 will see more colour, more adventurous choices, and bolder kitchens that feel more like living rooms than kitchens.
Fast furniture
Homeowners are growing weary of mass-produced furniture that quickly falls apart or looks generic and dated – and yes, that includes Ikea. Originality is the way to go.
Instagram design
Design ideas copied from Instagram and Pinterest are regarded as the equivalent of stage set design and innovation is the watchword this year. There will be an emphasis on unique finds and curated spaces rather than replicating what you see from others online.