Luxury homes must be priced realistically as potential home buyers will not invest "frivolously", it has been suggested by one sector expert.
Jeremy Way, director at Hirch Way & Ambler, said that luxury properties need to be priced competitively and though there are plenty of people with "serious money" around, they will not invest on a whim.
Home insurance is essential to cover the potential high financial cost of any damage to items and could be a wise buy for luxury homeowners who have high value possessions in their property.
The recent Knight Frank/Citi Private Bank Wealth Report shows that more than 50 per cent of those classed as high net worth individuals are planning to increase their number of residential property investments over the next two years.
Home insurance from
InsureandGo can cover against the financial cost of damage to items in a luxury penthouse apartment or standard three-bed semi.
