[an_account]

“Luxury” is often a marketing term used for very much not luxury apartments. There’s nothing “luxury” about a 900 sqft apartment that happens to have decent stainless steel appliances and a modern look.

New apartments (like new cars) are always priced higher than older buildings, but give it a few years and prices drop.

[thomas_ma]

This is very true. I’ve been in a bunch of “luxury” apartments in the Boston area…the finishes are modern maybe but rarely luxury. Vinyl flooring, cheap (albeit stainless steel) appliances, small bathrooms, etc.

[runarberg]

I usually use the terms “luxury apartment” and “arbitrarily high rent” to mean the same thing. A luxury apartment is simply an apartment with higher rent, that is the only “luxury” about it.