This new home in Bel Air offers a number of security features, including gated access, a camera system and a vault-like safe room. “In the last year, I’ve seen the majority of large new-construction homes built with safe rooms,” notes Aaron Kirman, CEO of Christie’s International Real Estate Southern California. (Christopher Amitrano / CS8 Photo)
Today’s high-net-worth homebuyers are placing an increased emphasis on privacy and security, motivated by concerns over crime and digital vulnerabilities while being drawn by the allure of cutting-edge technology.
More than 55% of real estate agents surveyed for Christie’s International Real Estate’s annual Global Luxury Forecast said security is taking on heightened importance for their clients. Among agents in the United States, that number jumps to 67%. Several factors are contributing to the trend, some based on reality, others perception. Nevertheless, they are driving real-world decisions when it comes to choosing and outfitting luxury homes. Despite research indicating violent crime and residential burglary are on the decline in the US, a recent Gallup poll found that more than 75% of Americans believe crime is increasing. There is little doubt that factors like the 24/7 news cycle, war and terrorism, and the constant stream of data breach notifications that land in consumers’ mailboxes contribute to feelings of fear and anxiety. Then, there are headline-grabbing crimes like the brazen murder of a healthcare CEO in Manhattan last December. In the end, people from all walks of life can feel targeted, but affluent homebuyers are uniquely capable of insulating themselves in their homes, and they seem to be doing so with growing fervor. Their motivations go beyond physical safety. Wealth concentration has surged in recent years, and homes have become treasure troves. “Art, cars, jewelry and rare collectibles can be worth more than the homes containing them,” says Adam Elmer, an agent with Fortune Christie’s International Real Estate in Boca Raton, Florida.
Additionally, skyrocketing insurance costs are necessitating the need to secure high-value personal items. Many insurers require enhanced measures, such as alarm systems, fire protection and safes, all of which can reduce premiums.
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