In our second installment of the Luxury Portfolio Market Pulse, we’re taking a look at the latest activity in three of the world’s hottest real estate markets: New York City, London and Miami. Again, this is just a snapshot, so stay tuned as we continue to investigate the most exclusive markets around the globe!
Highest recorded sale in last 12 months: US $ 70 million
Most international buyers are coming from: China, Brazil and Russia
Luxury buyers are looking for homes with: Full service gym and spa, wine storage, indoor pools and pet spas
Currently there are: 490 listings priced over US $7.65 million
The bottom line: The market is being driven by low supply, yet remains affordable compared to other global cities.
Highest recorded sale in last 12 months: £ 140 million (US $ 240 million)
Most international buyers are coming from: Russia, various parts of Europe and the Middle East
Currently there are: 68 properties in Kensington and Chelsea above £ 10 million (US $17 million)
The bottom line: The market is cooling and this creates opportunities for foreign buyers and investors alike.
Highest recorded sale in last 12 months: US $ 30 million
Most international buyers are coming from: Venezuela, Brazil and Argentina (in that order). Of all South Florida sales, 35% are being purchased by international buyers.
Luxury buyers are looking for homes with: Hotel and concierge services and close to top restaurants
Currently there are: 1,598 properties priced over US $1,475,000
The bottom line: South Florida is setting records sales for homes priced over US $ 1 million for the 4th consecutive year.
A sunken room adds depth and dimension to a home’s floor plan; it’s somewhat unexpected and a space guaranteed to spark conviviality and create an intimate vibe. We found three exceptional homes that have sunk to new levels (in the best possible way).
Located in Bishopscourt, Cape Town, this South African stunner will surprise and delight guests with its abundant amenities. With four bedrooms, all en-suite, this contemporary home is perfect for entertaining visitors. Seat a dozen friends for dinner in the open-plan dining room and then retreat to the swank sunken living room for a night cap.
The sprawling room with its built-in seating, free-standing fireplace and panoramic views guarantees a groovy get-together. The sumptuous master bedroom suite includes an indoor/outdoor shower and spa bathtub designed for sudsy stargazing. Other luxuries to deepen your interest include an infinity pool, gymnasium and four-car garage.
Traveling almost 13,000 miles to Garrison, New York we found a picturesque and private property situated on 120 acres of natural woodland overlooking the Hudson River. Featuring sweeping views all the way to Bear Mountain Bridge, this shingle and glass single-story home is a rare find filled with unique architectural elements.
Outdoor activities are abundant with unlimited opportunities for hiking and gardening, but when it’s finally time to come inside, the spacious sunken great room makes for an ideal spot to gather with loved ones. Natural light floods the four-bedroom/two-and-a-half bath home through floor-to-ceiling windows, providing an optimal setting for treasured artwork.
Lastly, in the lush tropical locale of Tortola, British Virgin Islands, this secluded Mid-Century Modern hideaway, Samsara, offers privacy in a spectacular setting. With over 3,000 square-feet of living space there is plenty of room to roam. Perched high above Cane Garden Bay, the six-bedroom/five-and-a-half bath property has awe-inspiring views.
The multi-level main residence boasts a sunken family room which is separated from the dining area by a see-through fireplace, an ideal spot to rest and relax at the end of the evening. Just above is the mezzanine floor that offers additional living space; up one more level is a lofted area with a bird’s eye view of the home’s anything-but-ordinary layout. With other features like a gourmet kitchen, swimming pool and covered outdoor dining area, we’ve got to level with you — this home has a lot to offer.
Looking for luxurious new levels of living space? Dive deep into Luxury Portfolio.
Like birds of a feather, today’s ultra-high-net-worth individuals flock together, with the majority landing in a distinguished list of neighborhoods prized for their beauty, exclusivity and leisure activities. In these top-tier enclaves, residents hail from all over the globe, while the common denominator is their position among the world’s most affluent, who can choose to live anywhere they please. It’s far from an exhaustive list, but based on such factors as quality of life, luxury real estate and ease of access, following is a selection of the most prestigious locations to live the good life, from mega-yachts in the Caribbean to champagne and caviar in the Swiss Alps.
Monterey Peninsula (USA)
California’s central coast has long been heralded for its mesmerizing scenery and favorable year-round climate, making it the perfect place for golf enthusiasts to flock for greener pastures. Comprised of Monterey, Carmel and Pacific Grove, the area is home to a bevy of world-renowned golf courses, such as Pebble Peach and Spyglass Hill. Additionally, the craggy coastline and scenic waters have made it one of the most desirable, as well as pricey, places to live. If you’re in the market for some prime beachfront and the country club lifestyle, the Monterey Peninsula is well worth a look.
St. Moritz (Switzerland)
A historical favorite among the jet set, St. Moritz is one of the few places that might actually exceed its reputation of world-class luxury. Combine that with some of the finest off-piste, or back country, skiing in the Swiss Alps and it’s easy to understand why so many high-net-worth individuals are keen on the real estate here. It may be one of the most expensive enclaves in Europe, but with endless alpine activities, 300+ beautiful days of sunshine and upscale dining and nightlife, St. Moritz has earned every bit of its pedigree.
St. Barths (French West Indies)
Easily the ritziest island in the Caribbean, Saint Barthélemy, or St. Barths, is the ultimate enclave when it’s time to take to the tropics. With no shortage of yachts, celebrities and turquoise water, the island has been a longtime favorite among the affluent, who tend to prefer private villas rather than compete for limited hotel space when the busy season hits from December to April (hotels account for only 30% of the island’s accommodations). With just over 8 square miles (21 km²) and strict zoning codes, real estate is quite limited, resulting in an extremely competitive market on this lavish getaway.
Costa Smeralda (Italy)
Historically one of the most expensive real estate markets in Europe, Costa Smeralda has been frequented by the upper echelon since its development by Prince Karim Aga Khan in the early 1960s. Located on the north coast of Sardinia (off the west coast of Italy), its appeal is largely driven by the dramatic coastline, breathtaking Mediterranean views and myriad offerings that cater to high-society. The prestigious Pevero Golf Club, Marina di Porto Cervo and numerous picture-perfect beaches are just a few of the reasons those who can afford to, choose Costa Smeralda for their vacation home.
In our effort to keep you up to date on the market activity in top international destinations, we’re sharing some of our latest findings from the Luxury Portfolio Market Pulse. Of course, this is just a snapshot, so stay tuned as we continue to investigate the world’s hottest real estate markets!
Highest recorded sale in last 12 months: US $ 120 million
Buyers who want it all want: A bowling alley, beauty salon, state-of-the-art media room and hammam (Turkish bath)
Compared to last year, prices are: Up
Top 10% of inventory across the market is: US $ 30 million and above
The bottom line: More US $ 20 million+ homes are being sold than ever before.
Highest recorded sale in last 12 months: HK $ 526 million (US $ 67.9 million)
The market is currently a: Buyer’s market
Most international buyers are coming from: Mainland China, Indonesia, Malaysia, Thailand, and the Philippines
Luxury buyers are looking for homes with: Clubhouse facilities and convenience to commercial high-end shopping malls
Reflective of his signature brand “Colours,” it’s no surprise that the home of iconic designer Alexander Julian is bright, lively and luxuriously un-stuffy. Tucked away on 30 private acres in Ridgefield, Connecticut, this ten-bedroom, seven bathroom (plus two half-bath) property makes the most of its sublime natural surroundings. Ponds, brooks, and meticulously landscaped greenery provide the perfect backdrop for this wonderfully whimsical Arts & Crafts home.
Ushering the outdoors inside, the gracious dining room has floor-to-ceiling doors that open to the red brick terrace. A footed bathtub, soaring beamed ceilings, roughhewn floors and exquisite built-ins are just a few of the utterly charming details throughout the home; there are stylish surprises at every turn. If given only one word to describe this delightful dwelling: happy.
Other features of the property include a guest house, pool, pool house, tennis court, greenhouse and quite appropriately, a design studio. Click here to learn more about this exceptional home.
With the U.S. Open in full swing, we have a case of tennis fever. The only thing more fun than watching an action-packed match is playing on a tennis court of your own. We’ve decided to serve-up a few smashing properties that are all winners in our book.
Located in picture perfect Santa Barbara, this enchanting Hope Ranch property is California living at its very finest. With spectacular backdrops of the sea and mountains, the approximately 13-acre site spans two premier parcels. Encompassing over 13,000 square feet, the eight-bedroom, nine-bathroom (plus one partial bath) home is so ideal for entertaining that guests may never leave.
Beyond the sublime scenery, including a tranquil pond, this property offers a host of leisure activities. An equestrian’s delight, the property features horse stables with a riding ring. Prefer an activity with a little less giddy-up? Take a dip in one of two pools on the property. When you are ready to come out swinging, lace-up and hit the tennis court for a few sets.
Don’t fault us for teasing you with another property. This palatial mansion in Constantia, Cape Town is a South African paradise that offers high drama and welcoming spaces. Upon entering through the wrought iron gates, you know you have arrived some place magnificent. The regal water feature and sprawling parking court set the tone for the many extraordinary amenities yet to be revealed.
The heart of the seven-bedroom, seven-bathroom home is the French, handcrafted chef’s kitchen with breakfast nook, showcasing the home’s second staircase as its centerpiece. After a hearty breakfast, what could be better than playing a few sets of tennis on either of the two grass tennis courts? Other highlights of this swoon-worthy property include a koi pond, under-floor heating and six automated garages.
Lastly we discovered country club living in Chicago’s North Shore hamlet, Lake Forest, Illinois. Designed by renowned architect, Harrie T. Lindeberg, this home has been lovingly restored to its original 1929 splendor. Positioned on more than two acres, this impressive seven-bedroom, six-bathroom (plus two partial bath) manse has the charm of yesteryear thoughtfully updated with every modern comfort today’s discerning homeowner would seek.
The three-story main residence encompasses over 12,000 square feet and includes posh perks like seven fireplaces, a wine room, a second floor family room and breakfast room. Additionally, the property features an attached coach house, in-ground pool and a tennis court set within perfectly maintained grounds.
Looking to score an exceptional property with a tennis court? You have the advantage utilizing Luxury Portfolio.