Live Branded: The Rise Of Branded Residences
Although branded residences have been around for nearly a century, it was only in the 1980s that the market has grown significantly. With North America as the largest market for branded residences with a 32% market share, Asia Pacific comes a close second with 30% while Europe is third with 13%.
In Southeast Asia, the dawn of the first branded residences, the Aman brand, happened in Phuket, Thailand. This is when the successful sale of some 30 villas of Amanpuri in 1988 led to the subsequent evolution of the brand. It was in 1995, during the launch of Four Seasons Chiang Mai that Thailand’s first branded residences was introduced, in collaboration with an international hotel chain. Since then, branded hotel chains continued to develop and has remained the most dominant form of branded residences in the region.
In light of new entrants in the market, the meaning behind branded residences has taken on an expanded definition in recent years. It has further evolved by marrying residential real estate with brands from other sectors such as fashion, jewelry, interior design, and even automotive brands. Luxury brands such as Armani, Bvlgari, and Porsche are some examples of these other sectors.
One of the newest branded residences in the market is currently in construction in Kuala Lumpur, Malaysia. Situated in the heart of Kuala Lumpur City Centre or KLCC, its two residential towers are set to become the world’s tallest twisted twin towers upon completion.
This is made possible by YOO8 serviced by Kempinski, who features not one but two power brands – international design studio YOO founded by John Hitchcox and Philippe Starck and Europe’s oldest and most established hotel group, Kempinski, which was founded in 1897. YOO8 serviced by Kempinski is part of 8 Conlay by Malaysian developer KSK Land, and features interior concepts by Steve Leung and Kelly Hoppen of YOO studio and in-house services by Kempinski.
A brand is a stamp of quality recognized and cherished by buyers, and is one that comes with a premium. With a growing market and higher expectations from consumers, branded residences will have to continually stand out to attract investors and maintain their premium over luxury residences. It was reported that buyers were willing to pay premiums of up to 132 percent in Bangkok and 69 percent in Kuala Lumpur over non-branded dwellings, what more if they see the quality and elegance of a branded one?
For those who dream of having the best in luxury living from iconic buildings by starchitects, interior works by top international designers, to five-star services and amenities, a branded residence is the perfect answer. It is more than just luxury. It is history in the making.
Are you interested to own a branded residence soon? Know more about it by downloading the “LIVE BRANDED – Rise of the Branded Residences” report and you will be well on your way to becoming the owner of a property that is all class and elegance!
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