Interview: Compass new building – “Luxury is a question of available living space”

In and around Munich, there are hardly any new-build properties that offer luxury living over a really large area. Does the scarce building land make dreams shatter?

There is indeed a lack of building land. But I would also like to see more courage on the part of the developers. Many have reservations about opting for very few units or just one unit with a luxuriously large living space instead of a classic apartment building – as they bring with them premium real estate in international metropolises or holiday destinations. The equipment is also often called luxurious by us, but often corresponds to a higher standard. I don’t think that’s a very happy development in marketing.

What do you value most about your buying interests?

Three factors in particular decide whether a property is suitable: a quiet, secluded location in the countryside with a lot of distance to the neighbors and ideally with access to the lake, the harmony of the exclusive equipment details and plenty of space for the family. Spacious rooms with high ceilings, oversized windows with a wonderful view and a professional lighting concept are a good basis for the desired ambience. Of course, this lives from other details, such as the exquisite materials that come into play in the rooms and the property. Our prospective buyers almost always have a certain affinity for art. The new property is therefore often decorated with valuable paintings, sculptures or installations. The property must also provide space for this aspect.

The rightly demanding buyers in the luxury real estate segment are only willing to make a few concessions. Instead of making compromises with existing properties, one or the other prefers to access a beautiful property that meets their needs in terms of location and have their dream property built on it. The saying “what doesn’t fit will be made to fit” doesn’t always apply to this rightly demanding clientele. Money may not play a major role for many. However, a property that does not meet one’s own high criteria is not bought lightly.

If a married couple goes on a search with you or is planning a new building: where does everyone tick the box?

As a rule, both value elegant architecture and representative rooms in which guests can be entertained in a beautiful setting. The garden or park and the view of nature must also impress. The children’s play and retreat area should also be bright and spacious. An extensive master area with a large bedroom, an exclusive en suite bathroom and an elegant dressing room is particularly important for the ladies. In addition, many are enthusiastic about a large wellness area that combines a beautiful look with high-end equipment. The size and possible equipment of the kitchen also plays a role. There is also a separate area for accommodating guests and staff.

For men, modern or even future-oriented technology is a matter of course. Whether bus or sound system, smart home technology, a professional lighting concept or full multimedia equipment with home cinema: This is a matter of course for people with a lot of financial flexibility – and is a prerequisite for the new house. What we have not only been able to score with since the Corona lockdowns is when the houses give the opportunity to work from home. A large underground car park or another easily accessible option for storing several cars and motorcycles is also important to many interested parties. If you can’t tick this box, a wine cellar or a particularly opulent swimming pool will not make up for this disadvantage. Too few parking spaces are often even an exclusion criterion.

What furnishing trends are there currently in existing and new luxury buildings?

It’s less about individual must-haves and more about the overall picture. Everything has to be valuable, comfortable, simply harmonious and, I repeat, generous. For several years, the trend in furnishing has been towards natural materials. Instead of porcelain stoneware floors or tiles, many now choose natural stone. When it comes to parquet, light floors, such as solid oak, are still in demand. I often see a renaissance of the herringbone pattern. The equipment must also meet high demands in terms of design and quality in every detail – from the light switch to the fittings. When it comes to architecture, a modernized Bauhaus style is popular. Alternatively, a modern interpretation of classical villas is often built. Wealthy people want new buildings with, let’s say, unusual, very individual architecture much less frequently than is often assumed. They rely more on understatement and timeless beauty. Park-like properties with direct access to the lake and a long driveway through nature are extremely popular. The house is a In this way, it is well protected from prying eyes and such a representative driveway is also a statement. The keywords hideaway and cocooning are rightly mentioned.

…and what if you are offered a villa with ‘very individual architecture’ for marketing?

The label ‘very individual’ – be it with regard to the architecture or the interior – does not have to be a flaw, but it does represent a challenge. I like to say: ‘Whatever a person liked and met the highest demands with its exclusive materiality and style, also like a second’. With some properties, careful modernization measures are possible and necessary in order to market them successfully. If the owners refuse such customizations, it may also take a little longer to market. In many cases, however, there is not much pressure on the part of the owner to sell their luxury property quickly and by any means necessary. The property was furnished with love and great financial effort and is part of one’s own biography. Then the buyer has to be the right one.

Thank you for the exciting interview, Mr. Reiss.