At least, according to the how-to home experts at HGTV Magazine. In their January/February edition, the magazine named LuxuryPortfolio.com among the most addictive websites because, well let’s face it, who doesn’t enjoy looking at the world’s finest collection of luxury homes? While we’d love to take all the credit, it wouldn’t be possible without the unsurpassed service and expertise of our incredible members!
There’s nothing more exciting than luxury house hunting, so whether you’re stuck in a blizzard and fantasizing about escaping to Mauritius or just want to see what Bruce Willis’ Beverly Hills estate looks like, check out the world’s most comprehensive (and addictive) collection of exceptional real estate!
Thank you to HGTV Magazine and all of our member brokers!
The world continues to grow smaller for today’s luxury buyer and as it does we can observe certain trends among the affluent of a given country. London, for instance, has become a hotbed for Russia’s elite, while buyers from Hong Kong are swooping up property in Sydney. The search for the foreign buyer has been one of real estate’s hottest topics of late. For more on the subject, check out this piece recently published in the Wall Street Journal – a must-read for anyone interested in the matter.
Last month, Luxury Portfolio members from around the world gathered in Venice for our annual International Symposium to discuss the latest in global luxury real estate and share insights and trends. The meeting featured sessions and panels from members around the world led by members from everywhere from Dubai, Mauritius, Istanbul, Bucharest and more. The consensus was that international buyers are looking for a “safe” investment. Traditional destinations of the world’s jet set, such as New York City and Paris, are the obvious markets being referred to here, but they’re not the only ones by any means. Delving closer into the subject, one such characteristic that remains prevalent among these safe markets is the presence of established academic institutions. Simply put, overseas education has become a driving factor behind the relocation of the world’s affluent.
University cities like Montreal, Vienna and Boston are experiencing their own wave of international buyers who invest in high-end real estate while their child is attending school and often turn a profit after graduation. Whether it’s luxurious “student housing” or a place for family to crash when in town, these purchases are fast becoming common practice for wealthy foreigners. In a recent interview for the Financial Times, Beverly Sunn, president of Luxury Portfolio’s Chinese member-broker Asia Pacific Properties, reinforced this notion. “Investors at the luxury sector are highly sophisticated and look to invest in major cities to meet the educational requirements of their children,” remarks Sunn.
Of course, cities with strong academic reputations aren’t the only place experiencing an influx of foreign activity; it’s just where the smart money is investing.
If you’ve ever dreamt of being on the set of Married to Jonas, get excited because the eldest Jonas brother's smart house, featured as the backdrop for the E! reality series, is officially on the market. Sadly, the pop sensation is not included. Kevin and wife Danielle have listed the stunning home in Denville, NJ for $2.2 million with Luxury Portfolio member Terrie O'Connor Realtors.
The expecting couple is reportedly building a new home nearby while they await the arrival of their firstborn and if it’s anything like this one, monitoring the baby will be a walk in the park. Equipped with a state-of-the-art Savant Smart Home Automation System, the lights, locks, music, electronics, security cameras and more are effortlessly controlled throughout with Apple-based technology. And if you’re on the road, touring with your band for instance, you can even use your smartphone to keep an eye on the home front.
But it’s not just its cutting-edge technology that makes the home so appealing. You’ll find all the traditional luxuries here as well, such as a 6,500 bottle wine cellar, home theater, gym and saltwater pool. Check out the listing page for more information on Kevin and Danielle Jonas’ beautiful residence!
For those who want to be “like Mike”, basketball legend Michael Jordan’s longtime compound in Highland Park, one of Chicago’s most prestigious suburbs, will be auctioned off on November 22, 2013, as reported by the Wall Street Journal. The stunning residence boasts approximately 32,600 square feet of living space (per MLS data), where the six-time NBA champion called home throughout his illustrious career. Situated on a rare 7.39 acres, the estate offers a complete package of luxurious amenities with the utmost privacy. MJ had no shortage of activities available to him while living here, with a regulation indoor basketball court, putting green and tennis court all located on the property’s immaculate grounds.
More than just a spectacular home, the auction represents a rare opportunity to own the landmark residence of an international icon and one of basketball’s most decorated athletes. View the listing page of Michael Jordan’s estate on Luxury Portfolio for more information and be sure to mark November 22 in your calendars!
These days it’s never too early to start looking ahead at the holiday season and earlier today American Express Publishing and Luxury Portfolio's research partner, Harrison Group, released the 2013 Holiday Forecast Study from the Survey of Affluence and Wealth in America. The study breaks down the latest in consumer trends with significant expectations for the upcoming holidays.
Predicting an overall increase in the gift market of 7.7% across all income groups, the study suggests that spending among the Core Affluent (annual discretionary income starting at $150,000 and annual household income under $450,000) will climb the most. “They are growing in size, boosting their spending and getting more and more comfortable with luxury brands as they do so,” says Dr. Taylor, Vice Chairman of Harrison Group and the study’s director.
Also of note is the continued growing popularity of online shopping, with a 15% increase expected among tablet owners. According to the study, 23% of the affluent and wealthy plan to do more online shopping this year, up 5% from last year.
Click here to read the press release in its entirety!
No, you’re not having déjà vu. Yet another stunning property of the iconic comedian has hit the market. Hope’s Palm Springs estate was listed earlier this year but his Lake Toluca compound, presented by Luxury Portfolio affiliate Hilton & Hyland, is the latest to be put up for sale. Designed by acclaimed architect Robert Finkelhor, the English Traditional manor was built for Bob Hope in 1939 and later remodeled in the 1950’s. The property’s walled grounds include multiple guest houses, staff quarters, a 1-hole golf course and a luxurious outdoor pool and spa setting. Inside the home is a flawless combination of modern craftsmanship and traditional style, exhibited by walls of glass juxtaposing a magnificent floor-to-ceiling stone fireplace in the formal living room.
The longtime host of the Academy Awards has made a splash in the real estate world recently, with two remarkable estates of the late comedian now on the market. Hope’s celebrated class and style are evident in each property, where he would frequently entertain and host charity events. Of equal grandeur, his Palm Spring’s estate was featured on the cover of the latest Luxury Portfolio Magazine.
The first ever Unique Homes China is fresh off the press and Luxury Portfolio is proud to be a part the inaugural issue with premier placement in the front, inside cover as part of our continuing effort to develop our brand in this ever-important nation. China’s staggering number of affluent individuals, today over 1 million millionaires, has positioned it as a key force in the global luxury real estate market.
Unique Homes China will be published bi-monthly and made available in all major cities throughout the region, including Beijing, Shanghai, Hong Kong, Macau and Taiwan. We look forward to increased involvement in 2014 in yet another global publication as more and more luxury buyers, specifically from these cities, seek international properties. The magazine will be distributed to wealthy individuals, membership clubs and newsstands. Check out the online copy of the first edition of Unique Homes China!