Luxury

The word "luxury" gets thrown easily in real estate, and its meaning has been widely broad. Some developers classify their projects as "luxury" likely to help sales. But are they?

The big developers have established separate companies to distinguish their top brands from the more "economic" ones. For example, if we were to relate developers' different brands to airline classifications, Ayala Land's different companies would be Ayala Land Premier (first-class), Alveo (business class), and Avida (economy).

In the commercial sector, third-party institutions have established their classifications to define quality: grade A buildings as cream of the crop and grade B as lesser quality.

How about in the residential sector? Well, there's no accepted segregation.

To create distinction, here are ten filters in determining whether or not a development is "ultra-luxury." This is based on the selling points of the different pre-selling properties. Of course, these filters are highly subjective, and you could disagree with me. I'm posting these as guiding factors to help determine whether the premium of a project is worth paying for.

Filters:

1. The developer has multiple brands/companies, and the project should belong to its top brand (i.e., Ayala Land Premier vs. Alveo or Rockwell Land vs. Rockwell Primaries).

2. There are at MOST 4 units per level for MOST of the building's floors.

4. The property is found in a prime location (i.e., located near a central business district) and is easily accessible.

5. The monthly condo dues are above Php110/sqm since it costs a lot to maintain luxurious amenities.

6. Must have more than the typical swimming pool and gym amenities (e.g., an "onsen"/Japanese heated pool).

7. The building must have a gated entrance.

9. There must be AT LEAST two parking slots allotted per unit.

10. The building must be spacious and have a high ceiling (more than the standard 2.8 m).

Did I miss anything?