A Bvlgari or Aman branded home is latest on list for super rich

By BLOOMBERG

HONG KONG • The super rich frequently want to dress themselves head-to-toe in luxury labels. They’re also increasingly snapping up multimillion dollar residences branded by the likes of Armani, Bvlgari and Four Seasons.

There are more than 400 branded projects worldwide, with buyers willing to pay premiums of up to 132% in Bangkok and 69% in Kuala Lumpur over non-branded dwellings, according to a report by property consultancy Knight Frank LLP. In Thailand, almost 40% of all new developments are now branded, the report said.

Many of the most-coveted addresses are hotel-branded residences by JW Marriott, the Four Seasons, Versace and Aman Resorts. They offer service levels on a par with their best hotels, including private chefs, the ability to order off a room-service menu and 24-hour concierge services.

Dubai has the highest concentration of branded residences, attracting operators including The W, Jumeirah and Bvlgari. According to Piers Schmidt, a luxury brand consultant at The Luxury Consultancy, that’s “down to the fact that developers and promoters have a need to differentiate: You can build it taller, make it revolve and shimmer, but when you get inside an apartment, having a brand gives an advantage.”

In Europe, the branded concept is still quite small, accounting for only 7% of branded residences. In Australia, that’s also the case although Sydney shows promise. The harbour- side city attracts a significant proportion of the 10,000 high-networth individuals flowing into the country each year.