Luxury apartment buildings are in fierce competition to attract a growing amount of affluent renters with top-tier amenities.
What was once considered lavish – pools, fitness centers, co-working spaces – is now par for the course in new and high-end developments. As rents soar, residents demand more to justify the premium price tags.
For example, apartments in Washington, D.C. have started offering Tesla rentals, art galleries, greenhouses, and music recording studios.
But what’s really gaining traction among the luxury set are med-spa treatments, including at-home Botox, fillers, and other cosmetic procedures.
"Property managers are venturing into amenities like health care and aesthetics to meet the evolving demands of luxury renters and stay competitive in an amenities arms race,” says John Walkup, co-founder of real estate analytics firm UrbanDigs. UrbanDigs data reports a nearly 3.5% increase in the share of New York City apartment buildings offering such amenities over the past five years.
In California, one forward-thinking apartment introduced concierge IV drip services earlier this year. Residents can receive intravenous treatments for hydration, hangover relief, energy boosts – all from the comfort of their home. This premium service, priced at up to $399 per session, underscores the lengths properties are going to pamper their residents.
Such hyper-luxury services differentiate properties without the need for extensive renovations, making them a strategic choice for property managers aiming to stand out in a competitive market.
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