Luxury real estate

Real estate

In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...

(or luxury property in British English

British English

British English, or English , is the broad term used to distinguish the forms of the English language used in the United Kingdom from forms used elsewhere...

) is the real estate market niche

Niche real estate

A niche is specialized sector of the property market. Examples include income property, garden real estate, condos, equestrian property, vacation property, farm property, golf property, waterfront homes, beach houses and luxury homes. These are often categories in which potential buyers think...

 targeted at the highest socio-economic group of consumers

Consumer

Consumer is a broad label for any individuals or households that use goods generated within the economy. The concept of a consumer occurs in different contexts, so that the usage and significance of the term may vary.-Economics and marketing:...

.
The characteristics that define luxury real estate differ among countries. However, location largely defines the property's value, especially with respect to whether it offers views (particularly, waterfront

Shore

A shore or shoreline is the fringe of land at the edge of a large body of water, such as an ocean, sea, or lake. In Physical Oceanography a shore is the wider fringe that is geologically modified by the action of the body of water past and present, while the beach is at the edge of the shore,...

 ones) or amenities such as proximity to golf course

Golf course

A golf course comprises a series of holes, each consisting of a teeing ground, fairway, rough and other hazards, and a green with a flagstick and cup, all designed for the game of golf. A standard round of golf consists of playing 18 holes, thus most golf courses have this number of holes...

s, school districts, and the downtown

Downtown

Downtown is a term primarily used in North America by English speakers to refer to a city's core or central business district ....

 district.