Luxury Apartment Buildings Tempt Renters With Over-the-Top Pet Amenities. ‘Dog People Really Are Dog People.’

The beauty pageant was in full swing outside an apartment complex in an Atlanta suburb. Decked out contestants pranced up and down a red carpet, while dozens of residents cheered and snapped photos.

The winner, who wore a custom-tailored red gown made by one of the tenants, went by the name Choupette. The gown didn’t quite cover her tail.

It’s unlikely Choupette understood everything that happened that night, even though her prizes included a stuffed catfish toy and a container of dehydrated chicken livers. Chris Melerski, the building resident who owns the Greater Swiss Mountain dog that won the crown—a gold foam board cutout, trimmed with faux white fur—was very appreciative.

“Dog people really are dog people,” he said. “When they offer things like this where you live, it means a lot.”

For years, pet needs tended to be an afterthought for the firms that managed luxury apartment towers. Landlords believed that showering tenants with deluxe amenities such as fitness centres, swimming pools, basketball courts and outdoor grilling stations was the way to fill up a building and command high rents.

Covid-19 altered that calculus after an explosion in pandemic pets. Millions of Americans adopted dogs as companions for long stretches stuck at home.

Pet mania has unleashed fierce competition among property owners to lure new tenants by offering the most generous—and sometimes over-the-top—dog perks, from dog schools to pet happy hours and giant rooftop dog parks. About 36% of U.S. apartment residents had a pet in 2022, according to a survey by the National Multifamily Housing Council.

“From the moment you start thinking about your business plan and start thinking about the design, you’re thinking about pet owners,” said Raul Tamez, a senior director for Greystar Real Estate Partners, the largest U.S. apartment manager, which operates more than 2,800 rental properties.

Greystar’s San Diego luxury high rise features a “bark bar” in the lobby with treats, bowls of water and a list of every five-star dog walker who works nearby.

Landlords say renters are prioritising the needs of their pooches over other factors long considered the most crucial when choosing a place to live. A survey of 1,170 apartment renters this year by developer Cortland found that dog owners rank a building’s pet policies, such as size restrictions and fees, as more important than even the cost of rent or a property’s location, according to the Atlanta-based firm that manages more than 250 apartment properties.

When Mike and Kelli Callanan looked for a new place to live in New York City, their pet’s needs were top of the list. The Manhattan building they found features a pet-bathing and grooming area, and doormen with a weakness for doling out dog treats.

“Darby was the main reason that we moved,” said Kelli Callanan, referring to their mini bernedoodle.

New York developer Related hired a designer to build a 5,600-square-foot rooftop dog park atop a San Francisco apartment building. The park is matted out in artificial turf and includes a replica fire hydrant to encourage bathroom breaks. Staff take care of cleaning.

In New York and other cities, Related also created Dog City, a daycare with activities including art, gardening and baking, aimed to accommodate dogs that live in its buildings.

For one project, staff dipped dogs’ paws in pet-safe paint and guided them where to stomp around the canvas to form the shape of a tree—one of many activities likely more entertaining for the owners than the dogs. Employees dressed pups up as artists to take photos of each with their paintings. Charcoal and Ashes, Annette Krayn’s two Chihuahuas, gave the art to their “Grandma.”

All dogs undergo temperament exams to ensure they can get along with daycare classmates. New dogs meet with each existing member individually, under the supervision of staff on the lookout for troublemakers.

“It’s harder than getting into a kindergarten at this point,” said Krayn. Charcoal initially failed the test—Krayn said he was dealing with anxiety after a kidnapping incident—so she enlisted a handler to help him pass the exam.

Cortland hosts “Yappy Hours.” The outdoor mixers offer peanut butter and pretzel swirl flavoured Ben & Jerry’s Doggie Desserts and “pup cup” ice cream for the dogs, and pizza, tacos and loaded fries from food trucks for the humans. At some buildings, staff set up sprinklers, mini inflatable pools and splash pads in the dog park.

In New York, the Callanans’ dog, Darby, slipped away from the person who was walking her on Randall’s Island while the family was away in Massachusetts. Darby found her way across the river and back to her building in Manhattan, sopping wet. The doormen recognised her right away, and helped get her to a vet’s emergency room, where she spent two days recovering.

Dog City, the doggy daycare, sent Darby a get-well-soon gift basket that included blankets, toys, a Yeti water bowl, dog treats and a $100 Dog City gift card, with a note that read: “She is a miracle and a celebrity in our eyes with her amazing yet terrifying adventure.”

Australia’s luxury property market is being quietly reshaped by one of the most significant wealth expansions in the world.

According to Knight Frank’s latest Wealth Report, the country’s billionaire population is set to grow by 77 per cent over the next five years, rising from 48 to 85 individuals.

That surge sits within a broader wave of wealth creation. Ultra-high-net-worth individuals, those with more than US$30 million, are forecast to increase by nearly 60 per cent to over 26,000 Australians by 2031.

Globally, the pace is accelerating. The report reveals that 89 new ultra-wealthy individuals are created every day, a figure that underscores a structural shift in capital formation rather than a cyclical upswing.

For luxury property markets, this is not just a headline number. It is a demand driver.

Australia’s wealth story is increasingly underpinned by diversification across resources, finance, technology and services, creating a depth of private capital that is both mobile and strategic.

And mobility is key. The ultra-wealthy are no longer tied to a single market. Instead, they are operating across multiple global hubs, maintaining footholds in cities like London, New York and Singapore, while using Australia as a stable base.

In this environment, real estate becomes less about shelter and more about positioning. Trophy assets remain desirable, but capital is increasingly being deployed across the full risk spectrum, from long-term holds to value-add opportunities. For Australia, the implications are clear. As wealth expands, so too does the expectation of product, and the locations that can attract it.

The billionaire effect

While property remains central to wealth preservation, the latest data shows that capital is increasingly spreading across luxury asset classes, albeit with a more disciplined approach.

Knight Frank’s Luxury Investment Index recorded a modest 0.4 per cent decline in 2025, signalling a stabilisation phase after several years of correction.

But beneath that headline number is a more telling shift. Collectors are moving away from speculative buying and toward assets defined by rarity, provenance and cultural significance.

Impressionist art led the market, rising 13.6 per cent, buoyed by landmark sales including a US$236 million Klimt painting. Watches also performed strongly, up 5.1 per cent, driven by continued demand for brands like Patek Philippe and Rolex.

At the same time, more volatile categories have corrected. Whisky values fell 10.9 per cent, while parts of the fine wine market have softened following pandemic-era highs.

Perhaps the most notable trend is behavioural. Younger investors are entering the market through fractional ownership platforms, gaining exposure to high-value assets that were once out of reach.

For property, the parallels are clear. The same focus on scarcity, narrative and long-term value is increasingly shaping buying decisions at the top end of the residential market.

Global wealth

The growth in billionaires is not just increasing demand, it is changing where that demand is directed.

In Australia, Brisbane has emerged as one of a handful of global cities experiencing rapid change in its luxury positioning. The city’s transformation is being driven by infrastructure investment and the 2032 Olympics, with top-end apartment prices rising from around US$6 million to more than US$10 million in just 12 months.

Luxury price growth has remained steady, with Brisbane rising 2.1 per cent in 2025, while the Gold Coast recorded 2.8 per cent.

At the same time, buying power is tightening. US$1 million now buys 5 per cent less in Brisbane than it did five years ago, reflecting the upward pressure on prime markets.

The trend is not confined to capital cities. Regional lifestyle markets are also capturing attention. Geelong’s waterfront has been identified as one of the world’s hottest luxury residential markets, driven by a combination of coastal amenity, infrastructure and relative value.

In these markets, pricing is no longer the sole driver. Lifestyle, accessibility and long-term growth are increasingly shaping buyer decisions, particularly among globally mobile wealth.

Alternative luxury assets

Beyond residential property, high-net-worth individuals are continuing to diversify into alternative assets that combine lifestyle and investment potential.

One of the most compelling examples is vineyard investment. Knight Frank’s Global Vineyard Index highlights the Barossa Valley as one of the best-value wine regions globally, where US$1 million can secure more than 18 hectares of land.

Despite a 10 per cent decline in land values over the past year, the broader outlook remains positive, particularly as the global wine industry shifts toward premiumisation.

This “trading up” trend is seeing consumers favour higher-quality, provenance-driven wines over mass-market products, reinforcing the long-term appeal of established regions like the Barossa and Eden Valleys.

For investors, the appeal lies in the intersection of lifestyle and capital preservation. Vineyard assets offer not only production potential, but also a narrative — something increasingly valued in a market where experience and authenticity carry weight.

Luxury Apartment Buildings Tempt Renters With Over-the-Top Pet Amenities. ‘Dog People Really Are Dog People.’

Dog art class, ‘yappy hours,’ rooftop play spaces: How developers court high-price tenants

Australia’s wealthy class is expanding fast, and Knight Frank says that a surge in billionaires is reshaping the nation’s luxury property market.