Globally, the branded residences sector has grown by almost 200% in the last decade. Branded residences were born in North America; however, they continue to strike a chord with luxury minded and brand conscious residential real estate buyers the world over. Currently, there are more than 420 branded residence schemes globally and that number is set to rise by more than 50% in the coming years.
On average branded residences command a 35% price premium. Other advantages include the design and marketing expertise that the brand brings to the project as well as the access that is often yielded to the brand’s valuable customer database.
Luxury hotel brands dominate the sector with Marriott International being the biggest player. However, other brands are also active in the market including luxury cars (e.g. Aston Martin, Porsche) and fashion houses (e.g. Missoni, Armani). The US media company Conde Nast (Vogue, Vanity Fair, GQ) also plans an entrance with the potential of offering its residents a range of curated living experiences.
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