What is Super Prime Property?

There are some key attributes that a home needs to have to be considered as super prime property. It also helps to appreciate that one property can be referred to as super prime in one area but not be considered so in other areas. The consensus in defining a super prime property seems to lie in their pricing, with homes worth ten million pounds falling in this coveted space depending on their location.

We shall go deeper into what super prime properties are, who the target market for these properties is and other terminologies related to this topic.

Features of Super Prime Property

We have seen that super prime properties are homes valued at ten million US dollars. With such a price tag, you may be curious about what you are paying for. Luxury comes at a price and exceptional features that distinguish your home from the rest. So what qualities does super prime property possess? The features are;

  • Space

If you are to pay a premium for your property, you should get the space you need. These homes are large, with most sitting on ten thousand square feet or more. The outdoor space is just as important as the house, so buyers also take a particular interest in it.

  • Design and Materials

The architectural brilliance represented by a super prime property is a factor of greatness that transcends its cost. The harmony of the home, from the different rooms to the yard, is all markings of these high-end properties.

A common theme reverberates across most high-end properties and is the use of green and sustainable materials. Special materials that work better for the environment are used, such as geothermal and solar heating options and greywater systems.

  • Privacy

A high and specialized level of security is an attractive feature to buyers of super-prime property. If we are being frank, the super-prime property market is usually not frequented by the average folk but rather celebrities and industry giants. These are people whose security and privacy are a notch higher than that of regular folk.

  • Amenities

State-of-the-art home appliances and equipment contribute heavily to a home being set apart as super-prime. The potential buyers require vast space and equipment that exudes a luxurious feel for them and their guests. Prime properties may require a bit of fixing here and there, but super prime homes are sold when ready to use. This means that the houses are fully furnished without a need to update any equipment or appliances.

Luxury property agents are best suited to meet the needs of a super prime property buyer. These agents are more privy to information on new listings because most luxury properties are not sold in the open market.

Target Market for Super Prime Property

The sale and purchase of a super prime property are done with discretion because the parties involved would prefer their privacy to remain intact. It is, therefore, no surprise that the buyers and sellers are usually people who run in the same circles.

High net-worth individuals target the market for prime, super-prime and ultra-prime properties. Ideally, these are individuals with multiple investments in various areas and holders of liquid assets worth at least five million US dollars. These individuals are the movers and shakers whose sum of wealth holds a significant percentage of a country’s wealth.

There has been a new trend of ultra-high-net-worth individuals in this generation distinguished by their age and wealth.

Wealth Management and Super Prime Property

Affluent people will most likely have multiple heavy sources of income. The largeness of these finances requires extra care, which is where a wealth manager comes in. Wealth management goes beyond giving financial advice and managing the client’s financial and tax obligations.

The financial services also include investment advice and assessment of properties a client can comfortably afford and maintain. People with wealth managers can comfortably purchase super prime properties with peace of mind that their interests are safe. Some of these luxury homes are used for retirement, which is an area that wealth managers take care of.

So what is Super Prime Property?

Super prime properties will usually be in segregated locations in any country; for instance, in London, they are found in St. Johns Wood, Chelsea and Kensington. The luxuries of super prime properties set them apart and appeal to buyers.

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