Between grandeur and happiness: luxury in transition

A word from the Group CEO Jawed Barna

Luxury has always reflected its time – an expression of social trends, economic shifts and personal identity. But it has never undergone the multifaceted and dynamic change we are witnessing today. In past decades, luxury was defined by opulent status symbols, but a quiet, almost silent revolution is now reshaping its meaning. Modern definitions of luxury are moving beyond the simple display of material value and toward more idealistic dimensions like purpose, authenticity and well-being. Today, luxury can be found just as much in the tranquility of a Mediterranean retreat as in the knowledge that you are advancing the cause of sustainability and social responsibility. As my countless conversations with our advisors and customers throughout the world have confirmed, purpose and well-being have now become the currencies of the affluent lifestyle.

Luxury is a global cultural phenomenon, yet its expression varies significantly across regions. In Central Europe, luxury is often subtle and understated, celebrated through the quality of materials, rare craftsmanship, the tranquility of a landscape or the privacy of a discreet estate. In the ­United States and Middle East in contrast, exclusivity is often defined through more visible displays, such as striking architecture, spectacular automobiles or glittering presentations. Despite these differences, both are expressions of a fundamental human desire: to make the extraordinary visible and tangible. For decades, Engel & Völkers has been a leader in this area. As the world’s leading agency for exclusive real estate, we don’t just specialize in beautiful and rare properties; we also understand the many forms that luxury and exclusivity can take. Our clients, including international personalities, entrepreneurs and family offices, trust our expertise when it comes to finding exceptional retreats and investment properties – whether it’s a villa on the Côte d’Azur, a Malibu residence with ocean views, a Tuscan estate or a secluded, snow-covered mountain retreat. We combine our passion for high-quality living and exceptional architecture with our clients’ individual desire to find a place that is more than just a property, but somewhere that satisfies their unique definition of luxury and exclusivity.

In 2007, we established our Private Office, a specialized unit at Engel & Völkers offering premium, bespoke services to our wealthy clients worldwide. Today’s high-net-worth individuals seeking luxury properties increasingly favor discreet, off-market transactions. Our Private Office combines absolute confidentiality with the highest level of ­professionalism and offers clients access to exclusive properties that are never publicly listed. The personal service and global network of our Private Office advisors meet the highest standards of trust, discretion and operational excellence. This is how I understand modern luxury: not as a loud demonstration, but as a conscious decision in favor of what makes life richer, deeper and more fulfilling. Luxury in transition means turning away from superficialities and toward what really matters: quality of life, freedom and well-being. At Engel & Völkers, we want to help shape this development – in some of the world’s most sought-after locations and in dialog with people for whom luxury is not primarily about possessions, but about a way of life.

Yours cordially,
Jawed Barna
Group CEO

The most exclusive winter destinations on the E&V world map

Engel & Völkers is represented in the world’s most prestigious winter destinations – from unique properties in Aspen to elegant chalets in the snow-covered mountains of St. Moritz and luxurious apartments in Kitzbühel. Here are the five most outstanding winter destinations in the Engel & Völkers network.

1. Gstaad, Switzerland (85.000 Euro/m²)

2. St. Moritz, Switzerland (75.000 Euro/m²)

3. Aspen, COLORADO, USA (73.000 Euro/m²)

4. Vail, COLORADO, USA (49.000 Euro/m²)

5. Park City, UTAH, USA (43.000 Euro/m²)

The ranking is based on the highest prices per square meter for residential real estate in countries where Engel & Völkers is represented.

Glamour Factor at Engel & Völkers

3 questions for ...

… Lara Michaelsen, Head of Private ­Office EMEA at Engel & Völkers

What is Engel & Völkers Private Office? 
The Private Office was established in 2007 to provide bespoke services to buyers and owners of exceptional properties worldwide. Our advisers offer a level of expertise, discretion and service that goes well beyond the typical transaction. As a globally connected team, we specialize in meeting the high demands of clients who manage complex, cross-market real estate portfolios.

What do E&V Private Office clients value most of all? 
Above all else, our clients demand discretion and a truly personalized service. They also value a transparent and trusting relationship with their advisor. By drawing on our closely integrated global network, we are uniquely equipped to handle even the most challenging transactions and extraordinary properties with efficiency and ease.

What are the current trends in the private office segment? 
We are seeing a surge of interest in lifestyle-driven investments, with clients gravitating toward specialized properties such as exclusive vineyards and equestrian estates. We are also seeing a growing emphasis on sustainability and smart technologies. Another notable development is the merging of real estate and fine art, as residences are increasingly being seen not just as homes but as spaces to house art collections, or as architectural masterpieces in their own right.