Interview: Inside the turnkey revolution

Luxury property is changing. Today’s affluent buyers are increasingly prioritising convenience, wellbeing and seamless living over grand renovation projects and excessive square footage. As time becomes one of the most valuable commodities for high-net-worth individuals, demand for beautifully designed, move-in-ready homes continues to grow across the prime property market.

In this exclusive interview, Becky Fatemi, Executive Partner at UK Sotheby’s International Realty, shares her perspective on the forces driving the turnkey revolution. From the rise of “quiet luxury” and hospitality-led living to the changing priorities of younger wealthy buyers, she explores how expectations at the top end of the market are evolving. We also discuss the features buyers are no longer willing to compromise on, the luxury trends she believes may not stand the test of time, and why truly exceptional homes offer far more than impressive price tags.

For anyone interested in the future of luxury real estate, this conversation provides a fascinating insight into what today’s most discerning buyers really want.

1. ‘Turnkey’ has become one of the biggest buzzwords in luxury property. Why do you think affluent buyers are increasingly prioritising move-in-ready homes over renovation projects?

Wealthy buyers increasingly see time as their most valuable luxury. That does not mean people have fallen out of love with beautiful renovations because many still absolutely adore restoring period homes and creating something personal. But today’s buyers are balancing businesses, travel, schools and family life across multiple countries. Many simply do not want the stress of spending two years dealing with contractors and planning delays. The appeal of walking into a home that already feels calm, polished and beautifully finished has become incredibly powerful.

2. In your experience, what are high-net-worth buyers really paying for today: location, design, privacy, convenience, lifestyle… or something else entirely?

It is really all of those things combined, but the common thread is ease. Buyers still care enormously about location of course, but luxury today is about how seamlessly a property fits into somebody’s life. Privacy, wellness, security, service and convenience now carry just as much weight as square footage. The best homes remove friction from daily life almost invisibly.

3. Has ‘quiet luxury’ changed the way wealthy buyers approach property, or do ultra-prime clients still ultimately want statement homes?

I think the era of obvious flashiness has softened dramatically. Buyers still want exceptional homes, but increasingly they want them to feel intelligent, understated and private rather than performative. Quiet luxury has absolutely filtered into property. The wealthiest buyers are often the least interested in shouting about their wealth. They want craftsmanship, atmosphere and discretion rather than homes that feel designed for Instagram.

4. Have buyer expectations changed significantly over the past few years? What are clients now demanding that they perhaps weren’t before?

Completely. Five years ago buyers were mostly talking about kitchens, dressing rooms and entertaining space. Now conversations are dominated by wellness, acoustics, air quality, lighting, climate control and sleep. Buyers have become incredibly conscious of how a home affects their mental and physical wellbeing. There is also a huge focus now on operational ease. People want homes that function beautifully as well as look beautiful.

5. London’s luxury market has always attracted international buyers. Are you noticing any interesting shifts in where demand is coming from globally?

American buyers remain hugely active, particularly families relocating for education and lifestyle reasons. We are also seeing continued demand from the Middle East and parts of Asia. What is interesting is that many international buyers now view London less as a purely financial investment and more as a long-term lifestyle decision. London still offers something very difficult to replicate globally: culture, stability, connectivity, green space and world-class schools all within one city.

6. Is London still viewed globally as the ultimate safe-haven market, or are other cities beginning to compete?

London still has an extraordinary position internationally, despite recent changes around taxation for UHNW individuals. Every few years somebody predicts London’s decline, yet global wealth continues flowing here because very few cities offer the same combination of legal stability, language, culture, education and international connectivity. Of course cities like Dubai, Miami and Singapore have become increasingly competitive, but London still has a level of depth, history and global relevance that is incredibly difficult to replicate.

7. We often hear that luxury buyers want ‘hotel-style living’ at home. Do you think branded residences, concierge services, wellness amenities and fully managed living are becoming the new standard?

Absolutely. Buyers increasingly expect developments to operate somewhere between a five-star hotel and a private members’ club. Concierge services, wellness suites, spas, treatment rooms and hospitality-led service are becoming hugely important at the top end of the market. But interestingly, buyers still want it to feel discreet and residential rather than corporate. They want service without feeling like they live in a hotel lobby.

8. What separates a genuinely exceptional luxury property from one that’s simply expensive?

Expensive is easy. Exceptional is thoughtful. Some incredibly expensive homes still feel surprisingly soulless because nobody has really considered how people actually want to live in them. The best homes feel effortless because somebody has obsessed over every tiny detail already: the lighting, the flow, the proportions, the storage, the acoustics and the atmosphere. Truly exceptional homes create an emotional reaction the second you walk through the door.

9. In your opinion, what’s the single most overrated feature in luxury real estate right now?

Probably enormous amounts of unusable space. Bigger is not always better. Buyers increasingly care more about quality of layout and how a home actually feels day to day rather than simply chasing square footage for the sake of it.

10. Are younger wealthy buyers approaching property differently from previous generations? If so, how?

Very differently. Previous generations often approached property primarily as a long-term financial asset or status symbol. Younger buyers still care about investment performance obviously, but they also place huge value on lifestyle, flexibility and experience. Walkability, wellness, sustainability, interiors, good cafés nearby and overall atmosphere matter enormously to them. They are buying into a way of life rather than simply a postcode.

11. What’s one trend currently dominating luxury property that you personally believe won’t last?

I think there will eventually be a slight correction away from developments trying to cram in endless amenities simply for the sake of it. Not every buyer needs a golf simulator, cryotherapy chamber and podcast studio downstairs. The best luxury buildings are curated intelligently rather than trying to become miniature cities.

12. What’s one major misconception people have about the super-prime London property market?

That wealthy buyers are irrational and will buy anything if it is expensive enough. In reality, ultra-prime buyers are often incredibly forensic. They notice everything. They care deeply about quality, service, management, privacy and long-term value. The higher the price point, the more discerning buyers usually become.

13. If you had to predict one defining trend for luxury real estate over the next 3–5 years, what would it be?

I think the biggest trend will be the continued rise of hospitality-led living and what I call invisible luxury. Buyers will increasingly prioritise homes that improve daily wellbeing through thoughtful design, wellness integration, sustainability and service. Luxury is becoming less about display and much more about how a home makes you feel.

14. If you could give one brutally honest piece of advice to someone trying to enter the luxury property market – either as a buyer or developer – what would it be?

Do not confuse expensive finishes with good design. Buyers are far more sophisticated than people realise and they can immediately sense when something lacks authenticity or thought. The most successful luxury properties are the ones that genuinely understand how people want to live rather than simply trying to look expensive online.

15. Finally – what has been the most unforgettable property you’ve ever represented, and why?

There have been many extraordinary homes over the course of my career and I have now sold more than £10.6 billion worth of property globally, although many of those transactions are highly confidential by nature. But sometimes the most unforgettable deals are not necessarily the biggest or most expensive.

One transaction I am particularly proud of was helping a long-standing retained client find a first home in South Kensington for her son and daughter-in-law. The house was around £4 million, so far from the largest deal I have ever handled, but there was something incredibly meaningful about helping them through such an important life moment.

For more information on Becky’s role at Sotheby’s, please visit – https://sothebysrealty.co.uk/agent/becky-fatemi/. In addition to being the Executive Partner at UK Sotheby’s International Realty, Becky is the founder of BlackBook, a professional platform for the creative industries and long-time champion of young talent through her charity Shadow to Shine.