Growing numbers of home buyers are choosing to live in corporate-branded communities with companies from Marriott to Porsche ready to greet them
According to a Knight Frank “Global Branded Residences — 2019” report, branded residences are “growing exponentially and can now be found in almost every major city and major holiday destinations,” with more than 400 mostly hotel-branded residences in 60 countries.
buying an overseas home under the marquee of a familiar brand also assuages buyers who may be nervous about immersing themselves in a foreign culture.
“Americans aren’t the most adventurous travelers in the world,” he said. “Safety and security are becoming more important.”
The model has become so popular, in fact, that brands beyond hotels are also attaching their luxury images to residential developments. The Italian jeweler Bulgari now offers residences in London and Dubai. French crystal maker Baccarat operates 60 homes in its Manhattan hotel. Fashion house Fendi is developing 41 Fendi Private Residences in Scottsdale, Ariz. At the Porsche Design Tower in Sunny Isles Beach, Fla., residents can park their cars next to their apartments — even on the 50th floor. And just a few blocks away, 260 luxury residences are nearing completion in the 60-story Armani Casa tower.
All that comes at a price.