What counted as a luxury apartment in 2010 — a concierge, a gym and a granite worktop — is now the baseline for a mid-market block. The definition moved, and it moved towards services rather than surfaces.
From finishes to operations
Buyers who have lived in a serviced block do not go back. The premium is now paid for what the building does daily — parcels handled, plant maintained, a manager who answers — rather than for what the specification sheet listed at handover.
What the top of the market now expects
- Acoustic separation good enough that a neighbour's evening is inaudible.
- Mechanical ventilation with heat recovery, not opening windows onto a main road.
- Cycle storage that is secure, sheltered and on the ground floor.
- A service charge published with a five-year sinking-fund plan.
The service charge is the new price
A pound on the service charge is worth roughly fifteen pounds off the sale price at current yields. Blocks that publish a credible long-term plan are now transacting at a visible premium to those that publish a single year.
Luxury used to be what you saw on the viewing. Now it is what you stop noticing.Slateon Residential
