A luxury apartment is not an official term. There are no specific criteria related to amenities and building features that may classify an apartment as luxury. Some characteristics that may differentiate luxury apartments from their modest counterparts are:
- A large size. However, this is not a definitive feature because even a small studio apartment may be considered a luxury if it’s in the right building.
- An apartment in a luxury building. This may be a building designed by a famous architect/architectural firm and might include certain high-end amenities like in-house spas, pools, fitness centers, etc.
- Certain amenities can also get an apartment classified as luxury, but it varies from buyer to buyer. For some, amenities like a doorman, concierge services, and a fitness center may be enough to consider an apartment as a luxury. Others might only consider buildings with wine cellars and tasting rooms, private restaurants, and clubs as luxury.
- High-end finishes and top-tier appliances may also be considered features of a luxury apartment.
- A prime location, typically with amazing views.
A high price is both a characteristic of a luxury apartment and a consequence of classifying an apartment as luxury. Regardless, luxury apartments may occupy the top 10% of the listings (by price). Some listings may even include differentiators like ultra-luxury for apartments that stand out even within the luxury apartment pool.
Luxury Apartment Features
A few features and amenities that are common in apartments classified as a luxury in various listings are:
- A swimming pool for the residents of the building. Additional features may include a whirlpool. High-end luxury apartments may have their own individual pools.
- Access to exclusive club memberships, discounted memberships, and priority reservations for in-house restaurants.
- Fitness centers, game rooms, saunas, hammams, and spas. Not all luxury buildings may have all of these amenities, but a few high-end buildings may have most of them.
- Concierge services. Luxury buildings may offer a more comprehensive range of concierge services compared to more modest buildings.
- Live-in super and 24/7 onsite security.
- Well-maintained outdoor spaces like rooftop gardens or terrace gardens.
- Conference rooms and private dining rooms are available for residents of the building.
- Exclusive features like a private foyer and walk-in wardrobes are also characteristic of higher-end luxury apartments.
- Proximity to desirable locations like parks, entertainment spaces, famous restaurants, major shopping hubs, etc.
The more of these features are concentrated in an apartment, the more legitimate its position as a luxury apartment. It’s important to remember that many of the features that classify an apartment as luxury pertains to the building, not the apartment itself.