[1] The term "luxury apartment" was used since the postwar era, although its definition was less grandiose than in recent times.
Global economic headwinds and unfavorable changes to property and transfer taxes cooled demand, causing a glut of unsold luxury condos.
[5] Luxury apartments in London comprise at least around 1,000 sq ft of space and would include high specification fittings such as underfloor heating, air conditioning, marble bathrooms, kitchens with granite or quartz worktops, underground carparks and/or garages, a 24 hour concierge service and an on-site residents-only leisure centre.
On the Spanish Mediterranean coast you can find luxury flats or villas with sea views, to enjoy the warm climate with more than 300 days of sunshine a year.
Hong Kong has long been recognised as one of the most expensive property markets in the world, with countless exclusive residential offerings.
Though many of the city's famed apartment complexes are found atop the Victoria Peak, there are several other luxury apartments in areas such as Repulse Bay, Deep Water Bay, Mid-Levels, Union Square, Kadoorie Hill, Kowloon Tong and more.