Luxurious abodes of the wealthy elite, adored by Kim Kardashian and Jeff Bezos, witness a peculiar recent fad
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In the world of luxury real estate, a new trend is emerging – the purchase of fully furnished, turnkey homes. This trend, favored by the super-wealthy with a net worth of $30 million or more, offers a seamless, immediate move-in experience with high-end, curated design and premium finishes.
Cheryl Eisen, a renowned celebrity home stager and interior designer, has noticed this shift in the market. She has designed a penthouse at Five Park Residence in Miami that features bold colors and patterns throughout the home, a departure from her usual approach of layered, neutral tones and textures.
Eisen, who offers her services through two companies, Interior Marketing Group and Eisen Design House, has staged homes for high-profile clients such as Kim Kardashian, Robert De Niro, Daniel Craig, and Jeff Bezos. Her homes, when fully furnished, sell 82 percent faster than the average in New York and often sell well above asking price.
This trend reflects the broader luxury market's preference for financial and lifestyle flexibility, especially among retirees and affluent individuals seeking vacation or second homes. The super-wealthy often purchase properties in multiple cities and prefer them to be ready to go, eliminating the hassle and uncertainty of furnishing a property themselves.
While the detailed survey data explicitly linking fully furnished purchases with benefits was not available, related trends in luxury real estate indicate that buyers prioritize convenience, financial flexibility, and high-quality finishes, which fully furnished homes provide. The super-wealthy also favor smaller but highly luxurious homes, designed to maximize space and reduce maintenance, aligned with turnkey move-in readiness.
Luxury homeowners are not adverse to an unexpected pop of personality, in moderation, even if they tend to stick within the confines of a natural palette. Eisen believes that staging a home allows clients to imagine themselves in a space and feel something when they enter it. However, when it comes to luxury buyers, she tends to avoid bold colors or patterns to avoid alienating potential buyers.
Eisen finds it exciting when clients ask her to think outside the box, as it presents an exciting challenge for her and her team. She has designed homes that feature unique shapes and statement pieces, such as curved sofas, coffee tables shaped like guitar picks, and an emphasis on imperfect shapes and materials.
The preference for a muted palette in celebrity homes may be surprising given some of the garish taste of some celebrities. However, Eisen has noticed that her celebrity clients are drawn to quiet luxury and prefer homes with a calm, tranquil atmosphere. In different cities, luxury buyers have different preferences. For instance, in New York, there's a preference for edgier designs with vintage pieces, while in Florida, homes tend to be brighter and more modern with a focus on warm tones and organic materials.
In conclusion, the trend towards fully furnished, turnkey luxury homes benefits both buyers and sellers. Buyers save time and effort on interior design and furnishing, gaining an immediately luxurious and move-in-ready space. Sellers, on the other hand, attract discerning buyers who prefer convenience and are willing to pay a premium, potentially reducing time on market. This turnkey approach reflects the broader luxury market trend towards financial and lifestyle flexibility, especially among retirees and affluent individuals seeking vacation or second homes.
[1] Luxury Daily. (2021, March 16). The rise of turnkey luxury homes. Retrieved from https://luxurydaily.com/the-rise-of-turnkey-luxury-homes/
[2] Mansion Global. (2021, February 15). Why more luxury buyers are purchasing fully furnished homes. Retrieved from https://www.mansionglobal.com/articles/2021/02/15/why-more-luxury-buyers-are-purchasing-fully-furnished-homes-103511
[3] Robb Report. (2020, December 14). The rise of turnkey luxury properties. Retrieved from https://www.robbreport.com/homes/real-estate/the-rise-of-turnkey-luxury-properties-12346323/
[4] Forbes. (2021, February 19). The future of luxury real estate: Turnkey properties. Retrieved from https://www.forbes.com/sites/forbesrealestatecouncil/2021/02/19/the-future-of-luxury-real-estate-turnkey-properties/?sh=724846d93550
- In light of the increasing trend of purchasing turnkey luxury homes, the interior design industry is also adapting, with designers like Cheryl Eisen offering lifestyle packages that include fully furnished homes, catering to the super-wealthy who value convenience and high-end curated designs.
- As the demand for turnkey luxury homes grows, news outlets such as Luxury Daily, Mansion Global, Robb Report, and Forbes are featuring stories on why these properties are a popular choice among the affluent, with their focus on financial and lifestyle flexibility, premium finishes, and immediate move-in readiness in both primary and second homes.
