Privacy is becoming the ultimate luxury for wealthy homebuyers

If you were wealthy enough to afford whatever house you wanted, what would be first on your list?
According to a recent survey of the world’s wealthiest people by real estate company Luxury Portfolio International, the answer to that question is most often privacy.

Luxury Portfolio partnered with market research firm YouGov to conduct the survey of a representative sample of the top 10% of consumers in 12 countries globally: United States, Canada, Mexico, United Kingdom, France, Germany, United Arab Emirates, China, Japan, Australia, Korea and Singapore.

Privacy was the most commonly named characteristic in the survey, beating out high-end kitchen appliances, en-suite luxury bathrooms, and master bedrooms with dual walk-in closets.

About 61% of those surveyed said that having lots of privacy was important to them and a decisive factor in the choice of the house.
“We know that those of means regard home as a refuge and a place to spend time with family and those who have achieved a similar level of success,” Stephanie Pfeffer-Anton, executive vice president of Luxury Portfolio, told Business Insider. “The desire to enjoy the lifestyle that their wealth affords them with a certain level of solitude and discretion drives the demand for privacy.”

That desire for privacy often leads to the installation of high-tech smart home systems and high fences, and sometimes even the hiring of security guards. For some of America’s wealthiest, it could also mean purchasing the home next door so that no one else moves in.


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