Market Pulse: Paris, San Francisco, Tokyo

As we continue to monitor the latest activity in luxury real estate, we’re putting the spotlight on three of the world’s top international markets: Paris, San Francisco and Tokyo. Following is just a snapshot of our latest findings, so stay tuned for more on luxury real estate’s most coveted destinations!
 
Paris Luxury Homes
 
 
Highest recorded sale in last 12 months: € 42 million (US $ 52 million)
International buyers are coming from: United Arab Emirates, Brazil and the US
The market is currently a: Buyer’s market
Top 10% of inventory across the market is: About € 20,000 per square meter
The bottom line: Foreigners are back and no longer concerned about new tax laws.
 
San Francsico Luxury Homes
 
 
Highest recorded sale in last 12 months: San Francisco – US $ 15 million, all Bay Area – US $ 40 million
International buyers are coming from: China mostly, but other parts of Asia, as well.
Luxury buyers are looking for homes with: Smart technology, spectacular views, wine cellars and home theaters
Top 10% of inventory across the market is: US $ 7.5 million and above
The bottom line: Tech money from Silicon Valley is driving a white hot Bay Area market.
 
Tokyo Luxury Homes
 
 
Highest recorded sale in last 12 months: ¥ 1 billion (US $ 10 million)
Most international buyers are coming from: China, Hong Kong and Taiwan, with recent activity from the US and UK
Luxury buyers are looking for: Condos within multi-purpose developments (residential, offices, shopping malls, hotel-type developments)
The bottom line: Much of the luxury inventory never makes it to market, but there’s more activity now than any other time in the last 6 or 7 years.

Market Pulse: New York City, London, Miami

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!

New York City Luxury Homes

New York City

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.

 

London Luxury Homes

London

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.

 

Miami Luxury Homes

Miami

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.
 

Market Pulse: Beverly Hills, Geneva, Hong Kong

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!

Beverly Hills

Beverly Hills Luxury Homes

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.

Geneva

Geneva Luxury Homes

Highest recorded sale in last 12 months: CHF 57.5 million (US $ 64 million)
The market is currently a: Buyer’s market
Most international buyers are coming from: France and the Ukraine
Top 10% of inventory across the market is: CHF 15 million and above (US $ 17 million)
It’s worth it because: Economic and political stability, as well as a sense of security and excellent quality of life.
 

Hong Kong

Hong Kong Luxury Homes

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

Musings from the Private Jet Journey

Four Seasons Private Jet
 
It’s daybreak on the Amazon River in Peru. Early morning light streams through the floor-to-ceiling windows of your suite aboard the Aria, a deluxe river cruise ship accommodating an exclusive 32 guests, and over the gentle rippling of its wake a Ringed Kingfisher calls in the distance. By tomorrow, a private jet will have taken you nearly 3,000 thousand miles away to relax over sunset cocktails at the legendary Posada de Mike Rapu on Easter Island in Polynesia. 
 
Abercrombie and Kent Private JetIt’s just another stop on upscale travel company Abercrombie & Kent’s 26 day Islands, Savannas & the Amazon excursion, culminating with a lavish evening at the Hotel Metropole in Monaco. Priced upwards of $80K, it’s not for everyone, but if you have the means to do so, these intimately-sized adventures are the most luxurious way to make a dent on that seemingly endless bucket list. "Travel by private jet allows guests to experience far more than they could on a conventional itinerary – and with greater ease and access," explains Abercrombie & Kent President Phil Otterson, "Our guests understand the value of this, which led to our 2014 Private Jet Africa and Around the World departures selling out in just weeks and generating long waiting lists." For the jet setter who doesn’t want to get bogged down by delays, transfers, long security lines and the like, private jet tours are a fast growing trend. Why? The short answer: because it’s hassle-free luxury and first class all the way. 
 
Four Seasons Private JetThe Four Seasons, for instance, is far from solely hotel operators anymore. In fact, the company now curates a number of full-service globetrotting expeditions where passengers can be transported by private jet to the iconic hotel brand’s various locations around the world. As Susan Helstab, Executive Vice President of Marketing for Four Seasons, recently shared, “In 2012, when we first introduced our Around the World by Private Jet experiences the response was overwhelmingly positive. The popularity and success of these early trips demonstrated the considerable opportunity and growth potential in the future of private jet travel, and encouraged us to look for new ways to evolve the experience.” 
 
That ultimately led to the recently unveiled Four Seasons Boeing 757, elegantly retrofitted for private travel with only 52 seats. The moment you step aboard it’s apparent that everything has been carefully orchestrated to provide a high-touch experience (they even equip each passenger with a near indestructible suitcase from luxury luggage brand RIMOWA), but that’s not what makes these trips worth shelling out the big bucks (ranging from $70–120K per person based on double occupancy). Rather, the unique offerings and VIP perks are what distinguish each voyage from your average vacation. How else would one get to enjoy a private dinner at the Manueline-style Jerónimos Monastery in Lisbon one night and an evening at the Teatro alla Scala in Milan with backstage passes the next? On the Four Seasons Backstage with the Arts journey, travelers are treated to just that on a sixteen day cultural feast through six European cities.
 
Abercrombie and Kent Private JetNow, if you’re really looking to get off the beaten path, without compromising comfort of course, National Geographic is also in the luxury travel game and has put a few excursions together, as only Nat Geo could. The recently announced Human Journey: Tracing Legendary Peoples and Sacred Places with Dr. Spencer Wells promises the ultimate balance between luxury travel (they’ve got a customized Boeing 757 of their own) and exotic exploration. With stops at numerous UNESCO World Heritage sites, including Mtskheta, Georgia, the cave temples of Dambulla in Sri Lanka and the churches at Lalibela, Ethiopia, it offers a level of grand adventure rarely possible traveling on your own, while maintaining a personal touch that’s far from being prodded along on a group vacation full of fanny packs and tourist manuals. In the neighborhood of $70k, these once-in-a-lifetime experiences allow you to truly delve into a foreign culture with a renowned team of experts to share their knowledge and insights on each destination. 
 
As they increase in popularity, there seems to be a private-jet tour tailored for every type of traveler: the history buff, the socialite, the adventurer, the beach bum and so on, with thrilling new itineraries created each year to meet the expectations of today’s jet setter. The continued growth signals one thing for sure: they’re well worth it.
 

Check Out the Latest Luxury Portfolio Magazine!

Luxury Portfolio MagazineThe new edition of the Luxury Portfolio Magazine is now online! Click here or on the cover to the right for the latest in luxury living and the most extraordinary luxury properties in the world. We’re particularly excited to share this issue, which includes local insights from top markets in our Market Pulse, a Q&A with Million Dollar Decorators star Martyn Lawrence Bullard, an insider’s guide to the serene island of Mauritius and a look at exclusive penthouses from Vancouver to Paris. Among the featured properties you’ll find the historic Liongate Estate of Bel Air, California, a coastal getaway in the illustrious Spanish city of Marbella, a breathtaking villa in Vienna’s Noble District and more!
 
Be sure to pick up a copy of the Luxury Portfolio Magazine at bookstores throughout the US and Canada, next time you are in a First Class Airline Lounge or head out to an international newsstand in the 60+ countries where we are sold.
 
Read the press release to learn more.
 

Check out Kim and Kanye’s Honeymoon Retreat on Luxury Portfolio

Kim Kardashian Kanye West Honeymoon Castle Ireland
 
Love them or hate them, there’s no denying that Kim Kardashian and Kanye West are all about luxury, so naturally the newlyweds chose one of the most regal estates in all of Europe for their honeymoon. The grand Castle Oliver in County Limerick, Ireland is currently listed with Luxury Portfolio member Ganly Walters for € 2,950,000 (roughly US $ 4 million) and available to anyone who wants to live the fabulous life like “Kimye”.
 
Kim Kardashian Kanye West Honeymoon Castle IrelandSituated on 15 lush acres, the luxurious castle has the distinction of housing Ireland’s largest private wine cellar with a capacity of 55,000 bottles. Throughout the first floor and upper mezzanine levels are twelve en suite bedrooms, while the ground floor boasts a gothic dining room, billiard room, numerous reception rooms with 18 foot high ceilings and more.
 
Click here to learn more about Kim and Kanye’s lavish honeymoon retreat!
 

Steve Martin Lists St. Barths Villa

Steve Martin St. Barths Villa
 
Hollywood funnyman and banjo virtuoso Steve Martin has listed his St. Barths villa with Luxury Portfolio affiliate Sibarth Real Estate. The comedic icon will no longer be an out-of-towner on the prestigious island, asking € 7,950,000 (or just under US $11 million) for the four bedroom home.
Steve Martin St. Barths Villa
 
Villa Au Soleil, as the property is named, was extensively renovated in 2003 with an authentic Caribbean style – bright walls, beautiful stonework and freely flowing indoor/outdoor spaces overlooking Saint Jean Bay and the Caribbean Sea made it the perfect place for Martin and his family to escape between films. On over half an acre, the home enjoys considerable space and privacy, with a swimming pool, outdoor kitchen and a gazebo surrounded by a lily pond in the middle of a lush tropical garden. 
 
Visit the listing page to learn more about Steve Martin’s St. Barths villa!

In the News: LP Targets Chinese Buyers via Juwai.com

Juwai Chinese International Real EstateLuxury Portfolio International recently announced that every listing featured on its award-winning website will now be marketed on Juwai.com, China’s number one international real estate website. By having their properties appear in Chinese on a locally-hosted site, Luxury Portfolio affiliates will benefit from an increased presence among this ever-important audience. 
 
Juwai.com has quickly established itself as the most influential site for international real estate among Chinese buyers, with an impressive 1.5 million views each month. The new partnership will continue to provide Luxury Portfolio members unmatched exposure in the global arena, as Executive Vice President of LP Stephanie Pfeffer Anton stated, “This agreement is vital for home sellers because it means that, when they hire a Luxury Portfolio agent, they can be sure their property will be marketed to the largest, fastest growing group of wealthy buyers in the world – the Chinese.”
 
Click here to read the entire press release.
 

Luxury Portfolio Goes to Shanghai

Luxury Portfolio ShanghaiAn astonishing 64% of Chinese millionaires have either emigrated or plan to emigrate, according to a recent Hurun Report, but rather than waiting for them to come to us, we’re going to them! This summer marks the first ever Luxury Portfolio Shanghai Immersion Conference, where Luxury Portfolio members are exclusively invited to spend three days learning about how to attract and work with today’s affluent Chinese consumers through an intensive crash-course in everything from Asian culture and the similarities and differences with western cultures, to financial and legal policies in China, all in one of the world’s most luxurious cities. Held at the historic Fairmont Peace Hotel from July 20 – 22, the event will offer key insight into today’s affluent Asian consumer with a special focus on expectations when purchasing real estate abroad.
 
“It’s an incredibly layered demographic,” notes Stephanie Pfeffer Anton, EVP of Luxury Portfolio, “and as we see more and more buyers from Asia to all parts of the world, it’s a necessity to understand Eastern culture and business practices to foster successful and trusting relationships. The opportunities in luxury real estate are limitless.” In addition to lots of learning, attendees will get to enjoy a traditional Chinese gala, explore the fascinating high-end districts in Shanghai, learn about their rapid modernization and truly immerse themselves in a luxury Shanghai experience.
 
Luxury Portfolio members can exclusively register at LuxuryPortfolio.com/Shanghai!

Luxury Portfolio’s Latest White Paper: Young Affluents in a Digital World

Luxury Portfolio White PaperAt our recent Summit in Las Vegas, Luxury Portfolio International® unveiled the latest White Paper, entitled Young Affluents in a Digital World: Understanding the Impact to Real Estate. Published in conjunction with our research partners at Harrison Group, a YouGov company, the fascinating study is available exclusively to Luxury Portfolio members and examines the growing presence of young homeowners in the luxury sphere, with analysis supported by the Survey of Affluence and Wealth in America, produced by Harrison Group and American Express Publishing.
 
By equipping our members with the most up-to-date research on the ever-empowered Young Affluent demographic, they are better positioned to leverage technology and provide value throughout the process of buying and selling a home. Today, there are more Young Affluents than ever before, 90% of whom say homeownership is very important to them, making it absolutely necessary to understand what they expect from their realtor in order to foster a successful relationship.
 
With access to thought-provoking statistics and detailed evaluations, you’ll find key takeaways like:
 
The Evolving Role of the Salesperson – Find out what young affluents expect in the digital age
Time is a Commodity – Utilize technology to maximize efficiency and respect their time
Digital Research is the ‘New Ordinary’ – How the recession changed the affluent consumer
 
To see the Executive Summary click here.
 
Luxury Portfolio members can view the White Paper in its entirety by logging in to LuxeXchange.
 

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