Gone are the days of palatial mansions and flamboyant estates. Wealth is not flaunted anymore but is a top secret – away from the prying eyes and nosy smiles. So where does it go?
A new trend taking over real estate in the luxury segment is the wave of ‘iceberg homes’. This new category of abode has most of its expensive real estate underground, hidden away from view. Basements convert into wellness centres and kitchens, underground swimming pools, and every other conceivable luxury is tucked away below ground.
Gaining popularity in Southern California, especially in Los Angeles; these ‘iceberg homes’ are becoming sought after by the likes of Hollywood celebs. A renowned 18,000 sq.ft. glass house has its home theatre, gym, spa, cedar sauna, service kitchen, and a 1,000-bottle wine room carefully concealed. A notable Bronze House in L.A. has its basement fitted out with a fitness room, a spa, four guest bedrooms, and a kitchen.
Credit: Matthew Momberger
The concept, which is trending now, is not novel, however. Cara Delevigne’s childhood home, listed in in May 2024 for US$30m, has a movie theatre, bespoke cocktail bar, gym, and kitchen. Reports of billionaires building luxury bunkers have surfaced since 2012 in the posh neighborhoods of London. It also gave rise to debates on sustainability and environmental concerns.
However, with real estate prices soaring, and patrons ready to shell out in the millions, the idea of iceberg homes seems here to stay.
