By: Joshua Finley
Anyone considering property investment knows why advisors rate it as one of the safest and most rewarding ways to diversify a portfolio. Property tends to withstand market swings and serves as an ideal hedge against inflation. Those seeking rental income will find that careful investments can provide stable returns. For many investors, the appeal of the luxury property market is hard to resist, especially with its potential return on investment.
According to property group Zillow, inventory in the luxury segment is up 15.7% year over year but remains 46.9% below pre-pandemic levels. In June 2024, 20.8% of luxury listings had a price cut, up from 19.4% the previous June, making now a potential ideal time to invest.
Investing in luxury property for long-term returns makes sense, but for many buyers, other factors influence their decision. For high-net-worth individuals, luxury property is not just a financial investment but an investment in a home.
These buyers consider livability, yet many homes are sold solely ‘by the numbers.’ The number of bedrooms, bathrooms, and entertainment areas factor into the price, but this approach often overlooks individual tastes and needs.
One woman focused on revolutionizing the Miami luxury property sales market is luxury real estate advisor and architectural designer Leila Evloeva.
Leila takes a holistic view of investor needs and is committed to going beyond the dollars and cents motivation when it comes to luxury property investment, and that approach can provide the extra value that her wealthy clientele demands.
Getting Under the Skin
Investment in luxury property is often driven by emotional and psychological factors. For many buyers, the exclusivity, status, and prestige of owning a high-end property are powerful motivators. Additionally, the security and long-term value growth of luxury real estate attract buyers seeking both a lifestyle upgrade and a solid, appreciating asset for their portfolio.
For Evloeva, the key to providing real value to the client is to balance their long-term financial interests with an in-depth understanding of their lifestyle requirements.
“For buyers of luxury real estate, lifestyle and comfort are crucial. Features like gourmet kitchens, home theaters, spa-like bathrooms, and outdoor spaces appeal to this market, but the focus is on lifestyle. Some clients seek an entertaining base, while others prefer a lock-up-and-go option. The key to offering sound advice is understanding personal preferences and aspirations. That’s why I discuss clients’ ideal lifestyles and, for international clients, research their culture,” commented Evloeva.
“I’m passionate about real estate, but it’s not driven by a paycheck. I never want to put someone in a situation where they end up with a property they won’t love, especially when they’re investing their hard-earned money. My goal is for them to not only love their house but also the area they live in and the feel of the neighborhood,” says Evloeva.
“Can they walk their dogs safely? Are there vegan restaurants nearby? Are their kids in college and coming back for the holidays? What about great entertainment options or the sound and smell of the ocean? It’s about making a genuine connection with the client and understanding who they are and what they aspire to.”
A Design Pedigree
Ever since she can remember Leila Evloeva has had an interest in architecture and the use of space, and it’s stood her in good stead when it comes to finding properties that meet the lifestyle aspirations of her clients.
“I come from a family of architects, and space has always fascinated me. It’s one of the reasons that I studied for a Bachelor of Fine Arts (BFA) and Business Management In Interior Design at Berkley. I wanted to explore how investment and a passion for space can fit together to provide holistic value to property buyers.
After completing her BFA, Leila went on to graduate from the University of California, Berkeley, Haas School of Business with an MBA, rounding off an already impressive property advisory pedigree.
As she explains, “The MBA studies sharpened my focus on what defines a superior investment financially. Often that’s calculated on the footprint of the property. but square feet can be a crude measure of value. It contributes to long-term returns, but the potential of that space often needs to be unwrapped for clients – and done in a way that helps them recognize the quality-of-life value in their investment.”
“Finding the sweet spot between a shrewd addition to an investment portfolio and a desirable lifestyle is the key to unlocking lasting value for the client, and it’s an approach that has allowed me to form incredible and durable relationships with loyal clients.”
Technology and Value
For Evloeva, the increasing sophistication of virtual environments has provided a platform to add even more value to clients. However, she maintains that technology is both good and bad news for property buyers and property investment advisors.
“VR provides an immersive experience for potential buyers, but studies show it’s most useful for properties with lower agent service quality. So, if you’re not focused on adding value to the client experience, it’s ideal. It often makes agents lazy, as they rely too heavily on VR’s ‘Wow Factor’ and fail to understand the client’s needs and desires.
“With my background in interior design and architecture, I can help clients use VR to explore design options for their future homes. However, it’s crucial to first spend time getting to know the client before using technology to guide their investment and lifestyle choices.”
Leila Evloeva has dedicated her professional life to authenticity, as she puts it, “I’d rather lose a sale than stray from the path of providing my clients with honest, forthright and considered opinion on whether a property is right for them. As I’ve said, it’s not about the paychecks, it’s about people.”
To learn more about Leila Evloeva’s unique approach to adding both financial and lifestyle value to property investors visit her LinkedIn page.
Published by: Nelly Chavez
