When it comes to luxury living, ultra-high-net-worth individuals (UHNIs) have specific preferences that often prioritise convenience, exclusivity and modern aesthetics. While multi-level villas have traditionally been seen as the pinnacle of luxury, a growing trend suggests that spacious single-level flats are becoming the preferred choice for UHNIs.

Here are some key dimensions that highlight why single-level flats are a better option:

1. Convenience and Accessibility

A single-level flat eliminates the need for stairs, making it more accessible and convenient for all ages. This is particularly appealing to UHNIs who may have elderly family members or young children.

According to a report by Knight Frank, 60% of luxury buyers prioritise accessibility and ease of movement within their homes. Single-level flats offer seamless transitions between different areas of the home, enhancing overall comfort and livability.

2. Unparalleled Exclusivity

Luxury single-level flats often come with unparalleled exclusivity, providing UHNIs with a sense of privacy and status. These residences are frequently located in boutique buildings with limited units, ensuring a private and exclusive living experience.

A report by Savills highlights that 65% of UHNIs value exclusivity highly, with many seeking properties that offer a unique and distinguished living environment. The exclusivity of these flats is often accentuated by private amenities such as elevators, concierge services, and rooftop lounges.

3. Maintenance and Upkeep

Maintaining a large multi-level villa can be a significant challenge, requiring extensive time, effort, and resources. In contrast, single-level flats are generally easier to maintain. The 2023 Wealth Report by Knight Frank highlights that 55% of UHNIs prefer properties that require less maintenance, allowing them to focus on their busy lifestyles and other investments. The simplicity of a single-level layout minimises the need for constant upkeep and allows for more efficient use of space.

4. Security and Privacy

Security is a paramount concern for UHNIs, and single-level flats offer distinct advantages in this regard. These properties often come with state-of-the-art security systems and are situated in high-end buildings with round-the-clock surveillance.

The sense of community in luxury apartment complexes also enhances safety. A report by Savills indicates that 70% of luxury property buyers prioritise security, with many preferring the added protection that comes with high-rise living.

5. Modern Design and Amenities

Single-level flats often boast cutting-edge design and luxurious amenities that cater to the sophisticated tastes of UHNIs. From open-plan living spaces to floor-to-ceiling windows offering panoramic views, these flats are designed to impress.

The Wealth Report by Knight Frank notes that contemporary design and high-end amenities are significant selling points for luxury properties, attracting UHNIs who seek a modern and luxurious lifestyle. Around 65% of UHNIs are drawn to properties with modern design and state-of-the-art amenities.

6. Prime Location

Single-level flats in luxury high-rises are typically located in prime futuristic urban areas, offering unparalleled access to the best that the city has to offer. This includes proximity to business districts, high-end shopping, dining, and cultural attractions.

According to a report by CBRE, location is a crucial factor for 80% of UHNIs when purchasing property, with many preferring to be at the heart of vibrant city life. The convenience of a central location combined with the luxury of a spacious flat creates an ideal living environment.

7. Resale Value and Investment Potential

The demand for single-level flats in prime locations is on the rise, translating to strong resale value and investment potential. A report by Jones Lang LaSalle (JLL) highlights that luxury apartments in desirable urban locations often see significant appreciation in value, making them a sound investment for UHNIs. In fact, 75% of luxury apartments in prime locations experience annual value appreciation, making them a lucrative investment.

While multi-level villas offered a traditional sense of grandeur in the past, the practical benefits of spacious single-level flats are increasingly appealing to UHNIs. The sense of exclusivity, ease of maintenance, enhanced security, modern design, prime location, and strong investment potential make these properties a compelling choice for those seeking the pinnacle of luxury living.

Supporting Excerpts

• Knight Frank Wealth Report 2023:"There is a growing preference among luxury buyers for properties that prioritise accessibility and ease of movement, particularly for elderly family members and young children. Around 60% of these buyers consider accessibility a key factor."
• Savills Prime Residential Market Report: "Security remains a top priority for luxury property buyers, with 70% of them preferring the added protection of high-rise living in exclusive apartment complexes."
• CBRE Luxury Property Insights: "Location is a crucial factor for UHNIs when purchasing property, with 80% opting for prime urban areas that offer easy access to business districts, shopping, dining, and cultural attractions."
• Jones Lang LaSalle (JLL) Luxury Real Estate Report: "Luxury apartments in desirable urban locations often see significant appreciation in value, making them a sound investment for UHNIs. Approximately 75% of such properties experience annual value appreciation."