THE 10 ‘MOST LUXURIOUS’ PROPERTY MARKETS WORLDWIDE

London topped the list of the world’s top “luxury” housing markets and Hong Kong edged out New York to claim the second spot in this year’s Luxury Defined Index rankings

om recent stock market fluctuations to the shifting fortunes of emerging market buyers, the global prime property market traversed a challenging geopolitical and economic landscape in 2015 and into 2016.

The annual Christie’s International Real Estate Index, which synthesizes and compares luxury housing metrics, reflects these developments and acts as a measuring stick for the global luxury market. The Index forms part of Luxury Defined 2016, an in-depth study of more than 100 prime residential property markets worldwide.

The Index ranks the world’s 10 top property markets under two performance measures:

  • The Luxury Index rates the relative “luxuriousness” of primary market cities with at least one million residents (see the latest Luxury Index rankings below).
  • The Luxury Thermometer assesses the “health” of the million-dollar-plus market and compares international primary and resort housing markets.

London Tops the World’s Most Luxurious Cities for Prime Property:

Source: Luxury Defined 2016 by Christie's International Real Estate
Source: Luxury Defined 2016 by Christie’s International Real Estate

2015* Luxury Index Rankings
1) London
2) Hong Kong
3) New York
4) Los Angeles
5) Singapore
6) Sydney
7) Miami
8) San Francisco
9) Paris
10) Toronto

*Luxury Index rankings are based on data for the period January 1, 2015 to December 31, 2015. The Index aggregates local market metrics measuring market record sale price, average price per square foot for luxury homes, number of sales over $1 million, percentage of listings over $1 million, average price for luxury home sales, percentage of international and non-local homebuyers, and percentage of secondary home sales. 

Highlights from this year’s Christie’s International Real Estate Luxury Index include:

With more prime property listings than any other city, as well as the world’s second most expensive residential sale in 2015 ($141 million / £92 million), London retains its position as the most luxurious property market worldwide. In spite of slower growth due to new taxes on prime property purchases, the city continues to attract strong domestic and international buyer demand. London has topped the Luxury Index for four years running.

A residence in the prestigious London borough of Chelsea
A residence in the prestigious London borough of Chelsea

Even with negative annual overall sales growth and pressures from a decline in mainland Chinese capital outflow, Hong Kong narrowly edged out New York to place second in theLuxury Index. The harbor city posted the world’s top residential sale in 2015 ($194 million / HK$1.5 billion).

A luxury home in the upmarket Hong Kong enclave of Shouson Hill
A luxury home in the upmarket Hong Kong enclave of Shouson Hill

Miami achieved a local record sale ($55 million for a new-build penthouse), which offset declines in overseas and cash buyers, ensuring a solid performance in the Luxury Index. New luxury stock and slowing buyer demand evidenced in late 2015 and early 2016 however, is likely to move it down in next year’s rankings.

The penthouse at the Capobella building in Miami Beach
The penthouse at the Capobella building in Miami Beach

Singapore joined our Index rankings after showing signs of an uptick following several years of declines due to government cooling measures. Singapore knocked Dubai—where pressures from declining oil prices and an oversupply of luxury properties caused price and sales volume declines—out of the world’s top 10 luxury markets.

The penthouse at Marina Bay Residences in Singapore
The penthouse at Marina Bay Residences in Singapore

*Fuente: Luxury Defined http://luxurydefined.christiesrealestate.com/blog/market-insights/ranking-the-worlds-top-performing-luxury-property-markets

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HOW to MAXIMIZE SUMPTUOUS OUTDOOR LIVING SPACES

From poolside cabanas to open-air living rooms, elegantly appointed outdoor spaces are a key selling point in today’s luxury market.

Long gone are the days when a simple pool and patio set would do to maximize the value of your luxury home. Outdoor living as defined by today’s luxury market doesn’t entail a few extras on a long list of amenities as much as it does a true extension of a home’s interior living spaces, and a seamless blend of interior with exterior. The furniture, textiles, and overall design of outdoor living rooms, terraces, and poolside patios are carefully considered as yet another reflection of a home’s design aesthetic. Outdoor living spaces are well on their way to becoming a requisite rather than simply a value-add; responding to buyer demand, the global luxury market continues to raise the bar for outdoor luxury ever higher. This week in “Luxury Defined,” global experts in the Christie’s International Real Estate Affiliate network share six trends for bringing the indoors out.

1. Four-Season Outdoor Living Room
Fully realized alfresco living rooms are distinguished by one signature feature: fire. Whether a dramatic stone hearth and fireplace, a firepit, or a chiminea, a fire element turns an outdoor space into an outdoor room that can be used year-round in warm-weather states throughout the U.S., including Florida, California, Texas, and Arizona. “Florida’s weather is such that you can do virtually all of your living and entertaining alfresco, especially during the winter months, when the weather is characteristically warm and dry during the day and deliciously cool and comfortable at night,” says Michael Saunders of Michael Saunders & Company. Fire elements generate warmth and a welcoming ambiance; additionally, two-sided fireplaces can create a natural separation between outdoor spaces, such as a living room and dining area.

Fire elements provide warmth and enhance the ambiance of the outdoor living room of this luxury home in Nokomis, Florida.
Fire elements provide warmth and enhance the ambiance of the outdoor living room of this luxury home in Nokomis, Florida.

2. Poolside Cabanas 2.0
A perennially popular poolside accompaniment, the cabana today is designed to serve triple and even quadruple duty at summer homes in New England, including Cape Cod, Martha’s Vineyard, and Nantucket. In addition to being a respite from the sun’s rays, cabanas may be furnished with a wet bar and stools, a kitchenette, and even a full-size dining table. “Our clients enjoy being able to spend the day outside with little need for going indoors,” says Liza McKenney from Great Point Properties. “Being able to fix drinks and food, dine outside, and get some shade is a plus for many. Stepping out your back door into an outdoor living area makes you feel like you have your own private oasis.”

This deluxe poolside cabana creates the sense of a true private oasis on the grounds of a summer retreat in Nantucket, Massachusetts.
This deluxe poolside cabana creates the sense of a true private oasis on the grounds of a summer retreat in Nantucket, Massachusetts.

3. Designer Flourishes
“Carefully selected furniture adds to the sense of stylish outdoor living,” says Maria Gryllaki of Ploumis Sotiropoulos. Gryllaki has worked with numerous properties in Greece where the designer treatment has been given to the outdoor patios and terraces of centuries-old villas: importing pieces from shops as far-ranging as London and Hong Kong adds just the right touch of contemporary sophistication. Comfortable, elegant seating and pillows done in luxurious fabrics further blur the lines between indoor and outdoor living.

The patios and terraces at this centuries-old villa in Hydra, Greece, have been designed with great care so as to blend the old with the new.
The patios and terraces at this centuries-old villa in Hydra, Greece, have been designed with great care so as to blend the old with the new.

4. Blended Indoor-Outdoor Living
Oceanfront estates from California to the Caribbean are being designed with an open-air concept that takes full advantage of the desirable weather and gentle ocean breezes. The concept is essentially built into a home’s design, notes Peyton Cabano from Willis Allen Real Estate. Architects are bringing the outside in by creating permanent, covered living spaces with all the same amenities as an indoor family room, living room, or kitchen— only one or more walls are absent.

Expansive open spaces, vaulted ceilings, and wall-to-wall disappearing glass doors afford unparalleled ocean views.
Expansive open spaces, vaulted ceilings, and wall-to-wall disappearing glass doors afford unparalleled ocean views.

The resulting designs capitalize on sweeping ocean views and make for an impressive space for living and entertaining. “When it comes to entertaining guests, there is no nicer setting than by the sea,” says Dominique Silvera, Vice President of Sales and Marketing at One Caribbean Estates. “Entertaining in a beachfront property creates an unmatchable ambience.”

Arguably the most luxurious property ever built on Barbados, One Sandy Lane features residences designed with indoor-outdoor living in mind.
Arguably the most luxurious property ever built on Barbados, One Sandy Lane features residences designed with indoor-outdoor living in mind.

5. Dining Alfresco
Dining outdoors against the backdrop of a breathtaking natural vista is a cherished tradition amid the desert landscape of the American Southwest and the majestic mountain ranges of Colorado, Wyoming, and Montana. In these places of rugged, natural beauty, understated elegance is best, so as not to take away from the grandeur of the surroundings. That being said, outdoor dining sets have come a long way. Today they are made in a variety of materials that are both luxurious and able to stand the test of time and the elements; teak and cypress are popular choices. Tabletop flourishes including candles, floral arrangements, and elegant tableware and stemware set the stage for an unforgettable evening under the stars.

Spectacular views from the patio of this Jackson Hole, Wyoming, retreat are the ultimate backdrop for an evening under the stars.
Spectacular views from the patio of this Jackson Hole, Wyoming, retreat are the ultimate backdrop for an evening under the stars.

6. Next-Gen Pool Design
Ocean Home magazine reports that the latest iteration of pool design trending in the northeastern states—including the tri-state area of New York, New Jersey, and Connecticut—is inspired by nature. Characterized by forest-like landscaping, rock work, and water elements that one might happen upon during a stroll through the woods—waterfalls, lily pad–topped ponds—these designs are as much about creating an environment as they are about the actual pool. Taking a page from nature’s playbook doesn’t mean scaling back on luxurious finishes, however. These homes may well have an outdoor kitchen or firepit, or perhaps both.

Featuring a cascading waterfall, natural rock work, and landscaping evocative of a forest, this stunning pool at an estate in Holmdel, New Jersey, characterizes the natural-pool trend.
Featuring a cascading waterfall, natural rock work, and landscaping evocative of a forest, this stunning pool at an estate in Holmdel, New Jersey, characterizes the natural-pool trend.

*Fuente: Christie´s International Real Estate /Luxury Defined

 

FIVE TOP GOLFING DESTINATIONS

State-of-the-art amenities for serious golfers are just the beginning at these luxury communities

There was a time when the term “golf community” meant just that: a cluster of luxury condos located in a warm and sunny locale with access to a private golf course year-round. But these days, even the most diehard devotees of the game are seeking variety and originality. Today, the top golf communities have many luxurious amenities: fitness centers, gourmet dining, hiking trails, fishing ponds, even bowling alleys and movie theaters. Many of these developments have courses designed by golf legends like Greg Norman, Jack Nicklaus, and Tom Weiskopf. Bluejack National in Montgomery, Texas, boasts the first course in the United States designed by Tiger Woods. Still, about 8.25% of the U.S. population—25 million Americans—play golf, so it’s no surprise that these state-of-the-art communities are attracting lots of attention from discerning buyers who are eager to hit the links. This week, Luxury Defined profiles five premier golf communities where golf is just one part of the appeal.

1. Carmel Valley Ranch Golf Course
Carmel, California
Carmel Valley Ranch sits on 500 pristine acres near the coast of Northern California. The Ranch’s 18-hole, par-70 course, designed by Pete Dye, is perched on an elevation above the valley, giving it a well-deserved reputation for spectacular views. Travel and Leisure has named the Carmel Valley Ranch Golf Course one of the Best in the US. Serious golfers will enjoy its tactical challenges, and any visitor will delight in the Valley’s unique microclimate, which gives the Ranch more than 300 days of sunshine every year. The Ranch is also home to an organic café offering plenty of healthy options for adults and children as well as happy hours, a Wine Dinner Series, and a traveling pizza oven as part of the Ranch Hands Kids Camp. The Ranch features tennis, a full fitness center, horseback riding, outdoor saltwater pool, spa, and four-acre sustainable pinot noir vineyard. Nature lovers will delight in visiting the chicken coop, bee apiary, and organic gardens. This three-bedroom home in Carmel Valley, California, designed by Alan Turpen, offers panoramic views of the golf course, the city skyline in the distance, and nearby mountains from its location nestled right next to the course’s 10th green.

“Das Clum House” is an exquisite custom estate located alongside the 10th green of Carmel Valley Ranch Golf Course inside the Carmel Valley Ranch Estates gate. With 180-degree panoramic views of the golf course, mountains, and city lights to the west, this home is replete with top-of-the-line custom finishes, oak floors, French doors, and built-in custom cabinetry and stone work.
“Das Clum House” is an exquisite custom estate located alongside the 10th green of Carmel Valley Ranch Golf Course inside the Carmel Valley Ranch Estates gate. With 180-degree panoramic views of the golf course, mountains, and city lights to the west, this home is replete with top-of-the-line custom finishes, oak floors, French doors, and built-in custom cabinetry and stone work.

2. Casa De Campo
La Romana, Dominican Republic
Casa De Campo is one of the Caribbean’s most spectacular resorts, and it’s not just a haven for swimmers and golfers. Set on 7,000 coastal acres in La Romana, Casa De Campo is home to a large marina, three championship golf courses including one designed by Pete Dye that’s known as “Teeth of the Dog,” plus tennis and polo facilities as well as Beach Club dining by Le Cirque. There’s plenty to explore: the Dominican Republic is home to outstanding natural beauty and culture, including the oldest city in the New World. The resort organizes excursions to historic sites, or guests can explore the local shops, take the entire family horseback riding, or swim in the crystal clear Caribbean waters. The food is an attraction in its own right: enjoy the creations of head chef Anthony Masas, who honed his skills at multiple Michelin-starred restaurants around the world before coming to Casa De Campo. At nearly 35,000 square feet, the Punta Minitas estate is one of the resort’s crown jewels. With a grand salon with 20-foot-high ceilings that opens onto the beach, this secluded oasis boasts glamour and beauty enhanced by its lush landscaped grounds, gazebos, private dock, pools, and fountains.

Punta Minitas is a sumptuous seven-bedroom estate at Casa De Campo with a private beach and luxurious interior. With easy access to the resort’s three championship golf courses plus tennis and polo, it’s ideally situated for serious sports enthusiasts and nature-lovers alike.
Punta Minitas is a sumptuous seven-bedroom estate at Casa De Campo with a private beach and luxurious interior. With easy access to the resort’s three championship golf courses plus tennis and polo, it’s ideally situated for serious sports enthusiasts and nature-lovers alike.

3. Wentworth Club
Surrey, England
Just an hour from central London, the Wentworth Club in Surrey offers one of the finest golf courses in the world. Featuring an active social calendar and elegant dining options as well as tennis and fitness facilities and a castellated Gothic-style clubhouse, the Wentworth combines 19th-century grandeur with state-of-the-art amenities. The Wentworth offers three 18-hole golf courses, a 9-hole par-3 executive course, practice areas, a TaylorMade Performance Lab, and meeting and reception areas that can accommodate up to 300 guests. Overlooking the 17th green, this five-bedroom, 8,000-square-foot home on Chestnut Avenue, known as Greenside, is an elegant perch for a serious golfer.

This Neoclassical-style home has a stately library, spa, pool, and sauna, offering the ideal mix of activities and total relaxation in a stylish interior.
This Neoclassical-style home has a stately library, spa, pool, and sauna, offering the ideal mix of activities and total relaxation in a stylish interior.

4. Plantation Golf Course
Kapalua, Hawaii
The Kapalua Golf resort on the Hawaiian island of Maui is breathtakingly beautiful: the lush tropical surroundings, clear blue skies and waters, and nearby rainforest and coral reefs make it a true natural sanctuary. The resort’s two golf courses are renowned for their challenging designs: The Plantation Course and the Bay Course have both been named the best in Hawaii by Golf Digest magazine. The Plantation Course hosts the PGA Tour’s Hyundai Tournament of Champions, and the Bay Course has hosted numerous professional tournaments. Plantation Restaurant offers seasonal fare, and Maui’s renowned D.T. Fleming Beach Park is right across the street. This seven-bedroom estate located on the 16th fairway of the Plantation course puts golfers in the center of the action.

Completed in 2008 and situated on 2.13 spectacular acres, this home has more than 6,000 square feet of living space and is offered fully furnished. A separate one-bedroom Ohana (guest house) provides staff or guest quarters. A pool, spa, personal putting green, and easy beach access are just a few of the amenities this spacious tropical home has to offer.
Completed in 2008 and situated on 2.13 spectacular acres, this home has more than 6,000 square feet of living space and is offered fully furnished. A separate one-bedroom Ohana (guest house) provides staff or guest quarters. A pool, spa, personal putting green, and easy beach access are just a few of the amenities this spacious tropical home has to offer.

5. Bay Colony Golf Club
Naples, Florida
The Bay Colony Golf Club in Naples, Florida is located inside a secluded community of 75 estates designed around an exquisite 280-acre nature preserve and a beautiful, meandering golf course. The well-appointed clubhouse offers award-winning cuisine, and the Club has two private tennis courts, a fitness center, and beach access as well. Members of the Club also have access to a no-tee time championship course for relaxing games that aren’t rushed. Enjoy the natural flora of the Cocohatchee Strand Nature Preserve while you play. The 18-hole course, designed by Robert von Hagge, offers five tee positions so golfers with different levels of experience can test their skills. While the Bay Colony Golf Club has hosted the Senior PGA Classic in the past, today it’s for members only. This grand residence in the Bay Colony community offers access to all the Club’s amenities as well as a spacious and classic interior.

Featuring exclusive access to one of South Florida’s best golfing communities, this luxurious estate with vast manicured gardens offers all the amenities of the Bay Colony Golf Club, plus privacy and seclusion.
Featuring exclusive access to one of South Florida’s best golfing communities, this luxurious estate with vast manicured gardens offers all the amenities of the Bay Colony Golf Club, plus privacy and seclusion.

*Fuente: Christie´s International Real Estate, LuxuryDefined

 

10 DEFINITIONS of LUXURY

What the world’s wealthy consider the most desirable features, amenities, and styles in luxury property is always evolving

From the collective insights and experiences of our expert international real estate affiliates, we have crafted a snapshot of luxury home buyer preferences in 2015. This is what luxury is today…

1 | LUXURY IS… SO MUCH MORE THAN LOCATION, LOCATION, LOCATION
Traditionally prominent addresses and prized ZIP codes are no longer the defining baseline concept for luxury homes. HNWIs are expanding the borders of traditional luxury locales, and are willing to pay a premium in emerging luxury areas if the amenities and lifestyle offerings are right. The evolution of high-end commercial real estate is also driving this phenomenon.

– “As certain areas of London become more accepted (The City, Battersea, Vauxhall, White City/Hammersmith, Earls Court, Shoreditch), we are finding domestic and international purchasers more open to areas traditionally outside their comfort zone. This is due to gentrification driven by increased residential development and improved infrastructure.”
Lulu Egerton of Strutt & Parker, London

– “After being priced out of the traditional luxury areas, younger and international affluent buyers have embraced non-traditional areas such as Kowloon Island, where new developments are offering high-quality services and amenities.”
KS Koh of Landscope-Christie’s International Real Estate, Hong Kong

One Nine Elms is the glittering pinnacle of the regeneration of London's Battersea district and will be one of the tallest residential developments in Central London.
One Nine Elms is the glittering pinnacle of the regeneration of London’s Battersea district and will be one of the tallest residential developments in Central London.

2 | LUXURY IS… CONSCIOUS LIVING
Owning a home that doesn’t negatively impact the community—and one that can even bring positive meaning—is attractive to wealthy buyers. The demand for more sustainable and healthy environments has placed greater emphasis on knowing where and how products are manufactured, and has fueled a trend toward conscious living.

– “The essence of the Cayman Islands lifestyle is derived from the beauty of our water and weather, and from the alignment of sustainable architecture with the natural landscape. In the luxury market, these elements remain a priority for discerning buyers who value creative vision and thoughtful design as a way of enhancing their lifestyle.”
Jackie Doak of Provenance Properties, Grand Cayman, The Cayman Islands

– “Luxury-home buyers are looking for houses that are energy-efficient as well as environmentally conscious in construction and amenities.”
Walt Danley of Walt Danley Realty, Paradise Valley, Arizona

– “Affluent buyers are increasingly looking for close proximity to a vibrant community rich with cultural offerings and outdoor activities, as well as opportunities to volunteer and make a difference.”
Michael Saunders of Michael Saunders & Company, Sarasota, Florida

Bayfront Contemporary Home, Sarasota, Florida
Bayfront Contemporary Home, Sarasota, Florida

3 | LUXURY IS… EXPERIENTIAL
Today’s new wealthy consumers are more informed, more globally exposed, and more sophisticated than previous generations. Baby boomers in particular are now “less materialistic and more experiential,” noted Cognizent in a luxury retail trend study. And HNWIs are being led into the luxury experience by prestige brands such as Christie’s. “The worlds of high-value art, education, travel, luxury goods, and architecture are colliding,” observes Dirk Boll, European Managing Director of Christie’s. “Our focus remains on serving our clients whenever and however they choose to connect with art. Increasingly they are connecting with art in luxury sectors such as architecture and travel, where the enjoyment extends beyond ownership and into experience.” This shift toward experiential luxury is similarly reflected in the amenity and lifestyle preferences of HNW home buyers.

– “Buyers are increasingly seeking to spend money on property features that could be described as ‘experiential’, such as a meditation garden or an outdoor shower.”
Justine DeLuce of Chestnut Park Real Estate, Toronto

– “When economic imperatives aren’t driving things, there is a quest for meaning and a better life. The choice becomes: How is family life enriched by having access to amenities and lifestyle options that can be experienced every day?”
Ruth Kennedy Sudduth of LandVest, New England

– “In Pebble Beach and Carmel, buyers are looking to harness some of the perceived slower tempo and quality-of-life priorities, especially when they select a property with provenance. It is not that the former owner has to be famous, or even widely known, but rather that the home has a history, a legacy and sense of presence that the new owner can honor as they create their own memories”
Bill Mitchell of Carmel Realty Company, Carmel, California

The master bedroom in this Vero Beach, Florida, estate features a double-sided linear fireplace shared by the master bedroom and spa-like marble bath featuring a soaking tub, steam shower, and outdoor shower.
The master bedroom in this Vero Beach, Florida, estate features a double-sided linear fireplace shared by the master bedroom and spa-like marble bath featuring a soaking tub, steam shower, and outdoor shower.

4 | LUXURY IS… CONVENIENCE
The resurgence of urban downtown cores in many major cities and changing age dynamics are having a significant impact on the home-buying preferences of the world’s most affluent. As millennials grow up and baby boomers transition into life as empty nesters, many larger cities are witnessing a surge of affluent older buyers to urban areas. Residents of suburban areas are also increasingly seeing a preference for urban amenities.

– “Local empty nesters are opting to ‘downsize’ from large single-family homes into generously sized condo and townhome units, with many opting for developments that are within walking distance of offices, shopping, and restaurants.”
Ron Shuffield of EWM Realty International, Miami, Florida

– “We have witnessed a trend of affluent buyers, generally aged 50 and above, selling the house in the greens and moving to town.”
Michael Blaser of Wüst und Wüst, Zurich, Switzerland

– “Many baby boomers are downsizing and wanting to live near town for the convenience. They’re looking to be as close to city/urban living as the suburbs will allow.”
Barbara Cleary of Barbara Cleary’s Realty Guild, New Canaan, Connecticut

– “Lisbon’s property market has been growing, fueled by demand from clients looking for new and modern buildings in the city center.”
Rafael Ascenso of Porta da Frente, Lisbon, Portugal

Spectacular penthouse offering luxurious urban living in the heart of Zurich West, directly adjacent to the relaxing green area of the newly developed Pfingstweidpark, only a few steps away from the train station Hardbrücke
Spectacular penthouse offering luxurious urban living in the heart of Zurich West, directly adjacent to the relaxing green area of the newly developed Pfingstweidpark, only a few steps away from the train station Hardbrücke

5 | LUXURY IS… AGE-AGNOSTIC
Multigenerational travel (trips involving at least three generations) was dubbed the biggest trend for 2014 by a luxury travel industry report. As growth in this type of tourism increases, some prestige real estate markets, particularly those in resort destinations, are seeing increasing demand for luxury homes with spaces that have the flexibility to adapt to generational diversity and entertaining requirements.

– “Wealthy buyers are increasingly focusing on family spaces such as places for adult children or grandchildren and guesthouses for elderly parents.”
Dub Dellis of Walt Danley Associates, Paradise Valley, Arizona

– “We are seeing a trend toward the purchase of upscale apartments in luxury vertical developments that offer multi-functional spaces for flexible entertaining.”
Lucia Cavazos of Gerencia RED in Monterrey, Mexico

– “A wide array of amenities and entertainment for the entire family are increasingly a priority for affluent home buyers. This trend is especially noticeable in young families where homes with amenities for children of all ages has become a must. This has led to a rise in important new developments being built in the outskirts of Bogotá, even within Country Clubs.”
Juan Carlos Corredor Muñoz of Julio Corredor & CIA, Bogota, Colombia

6 | LUXURY IS… ULTIMATE PRIVACY
The age of the smartphone and its pervasive social-media feeds has brought with it an increasing desire for privacy, particularly for high-profile and celebrity buyers of luxury homes.

– “Eye-grabbing street views, which take out-of-town tourists by surprise and which took precedence in the days of Gregory Peck and Greta Garbo, have morphed into a preference for longer-than-ever gated drives, security systems, and being out of the public eye as much as possible. Ostentatiousness has been abandoned in favor of subdued.”
Jeff Hyland of Hilton & Hyland, Beverly Hills, California

– “A key characteristic of many of today’s highest-end listings is ultimate privacy and seclusion. Paparazzi-proof hideaways—such as Donna Karan’s ‘The Sanctuary’ with its private-island feel—are increasingly sought after by security-conscious buyers.”
Katherine Baryluk of Regency International, Turks and Caicos

The Sanctuary, Parrot Cay, Turks & Caicos Islands
The Sanctuary, Parrot Cay, Turks & Caicos Islands

7 | LUXURY IS… COLLECTIBLE
“For today’s wealthy investor, acquiring and holding collectibles is akin to building a store of treasure,” notes a report from Barclay’s Wealth Insights. Trophy real estate is the ultimate collectible treasure. Like buying a prized sports team or high-value artwork, trophy residences can ignite the passions of ultra high-net-worth individuals (UHNWI). Many developers of ultra-luxury properties have baked collectible concepts right into their plans with limited-edition structures and one-off creations by highly regarded international architects and designers.

– “South Florida developers and globally recognized star architects are creating ‘works of art’ within many of Miami’s newest condo buildings. Buyers are being drawn to purchase third, fourth, or fifth homes here in order to own a unit in one of these iconic buildings.”
Ron Shuffield of EWM Realty International, Miami, Florida

– “One-of-a-kind trophy homes are becoming the latest ‘must have’ for the world’s most affluent. Akin to owning a Warhol or a Bugatti, UHNWIs are increasingly seeking to own an architectural collectible, such as one of the 41 residences within the iconic Ten Trinity Square development by London’s River Thames. Discerning buyers see acquisitions of this kind as an opportunity to be a resident of a living piece of art and history.”
Dan Conn, CEO of Christie’s International Real Estate

Ten Trinity Square, London, England
Ten Trinity Square, London, England

8 | LUXURY IS… TURNKEY-READY
Many buyers are willing to pay a premium for the convenience of a “just bring your toothbrush” property, outfitted with top-of-the-line accoutrements that amplify a luxury lifestyle. Brokers reported an increased interest in brand-new residences, with buyers happily paying a premium for security, concierge, and other luxury amenities.

– “The year’s top sale in Beverly Hills was a $70 million ‘spec’ home, purchased with all furnishings and appointments, including an extensive collection of wines in the 2,500-bottle cellar and a fully stocked $200,000 candy wall. Tired of the line ‘just bring your toothbrush,’ the agent even provided eight OralB 3D Braun toothbrushes as part of the deal!”
Jeff Hyland of Hilton & Hyland, Beverly Hills, California

– “Many buyers are more insistent on immaculate condition of houses or apartments. They have little appetite for refurbishment or ‘a project’ and are willing to pay more to be able to move in straight away.”
Lulu Egerton of Strutt & Parker, London

– “Responding to interest from buyers, a number of new ‘turnkey’ homes came onto the market in 2014, an emerging trend in St. Barths.”
Christian Wattiau of Sibarth Real Estate, St. Barths

9 | LUXURY IS… A BLANK CANVAS
At the other end of the spectrum, some enthusiastic buyers are pushing the desire for newness to new heights. Impeded by lack of quality inventory, more and more ultra-affluent buyers wish to build their own trophy homes from scratch.

– “One of the most interesting trends is that of purchasing a trophy property with an older home and tearing that home down. As the very best lots were some of the first developed in Jackson, we anticipate that trend to continue.”
Julie Faupel of Jackson Hole Real Estate Associates, Wyoming

– “The highest priced sale in 2014 was a $13 million estate. The property is set to be demolished and the owners will rebuild a new mega home.”
Robert Greenwood of Regency International, Turks & Caicos

– “Due to the greatly constricted inventory in our market, we’re seeing significant new and custom construction for buyers who are seeking expansive, one-of-a-kind estates.”
James Bruner of Fenton Lang Bruner & Associates, Jupiter Island, Florida

A rare find on Jupiter Island—A homesite in a most convenient location offering over 2.5 buildable acres with beautiful golf course views across Bassett Creek just off the Indian River
A rare find on Jupiter Island—A homesite in a most convenient location offering over 2.5 buildable acres with beautiful golf course views across Bassett Creek just off the Indian River

10 | LUXURY IS… UNDERSTATED
Luxury is no longer about brash displays of wealth, note many experts in our network. Instead, scaled-back, quality-over-quantity luxury will continue to be one of the key tenets behind many prestige property acquisitions.

– “Luxury buyers aim to be more discreet, less ostentatious. There is a trend toward architecture that blends into the topography of the area, not about everything being overtly expensive.”
Justine DeLuce of Chestnut Park Real Estate, Toronto

– “Quality of amenities and lifestyle offerings are becoming more important to affluent buyers than the size of a home.”
Emily Moreland of Moreland Properties, Austin, Texas

– We are witnessing a continuing shift from ostentatious displays of one’s wealth… to a more restrained expression of tasteful understatement.”
Bud Clark of Willis Allen Real Estate, La Jolla, California

*Fuente: http://luxurydefined.christiesrealestate.com/blog/market-insights/10-definitions-of-luxury

10 Definitions of Luxury

From the collective insights and experiences of our expert international real estate affiliates, we have crafted a snapshot of luxury home buyer preferences in 2015. This is what luxury is today…

1 | LUXURY IS… SO MUCH MORE THAN LOCATION, LOCATION, LOCATION
Traditionally prominent addresses and prized ZIP codes are no longer the defining baseline concept for luxury homes. HNWIs are expanding the borders of traditional luxury locales, and are willing to pay a premium in emerging luxury areas if the amenities and lifestyle offerings are right. The evolution of high-end commercial real estate is also driving this phenomenon.

– “As certain areas of London become more accepted (The City, Battersea, Vauxhall, White City/Hammersmith, Earls Court, Shoreditch), we are finding domestic and international purchasers more open to areas traditionally outside their comfort zone. This is due to gentrification driven by increased residential development and improved infrastructure.”
Lulu Egerton of Strutt & Parker, London

– “After being priced out of the traditional luxury areas, younger and international affluent buyers have embraced non-traditional areas such as Kowloon Island, where new developments are offering high-quality services and amenities.”
KS Koh of Landscope-Christie’s International Real Estate, Hong Kong

2 | LUXURY IS… CONSCIOUS LIVING
Owning a home that doesn’t negatively impact the community—and one that can even bring positive meaning—is attractive to wealthy buyers. The demand for more sustainable and healthy environments has placed greater emphasis on knowing where and how products are manufactured, and has fueled a trend toward conscious living.

– “The essence of the Cayman Islands lifestyle is derived from the beauty of our water and weather, and from the alignment of sustainable architecture with the natural landscape. In the luxury market, these elements remain a priority for discerning buyers who value creative vision and thoughtful design as a way of enhancing their lifestyle.”
Jackie Doak of Provenance Properties, Grand Cayman, The Cayman Islands

– “Luxury-home buyers are looking for houses that are energy-efficient as well as environmentally conscious in construction and amenities.”
Walt Danley of Walt Danley Realty, Paradise Valley, Arizona

– “Affluent buyers are increasingly looking for close proximity to a vibrant community rich with cultural offerings and outdoor activities, as well as opportunities to volunteer and make a difference.”
Michael Saunders of Michael Saunders & Company, Sarasota, Florida

Bayfront Contemporary Home, Sarasota, Florida
Bayfront Contemporary Home, Sarasota, Florida

3 | LUXURY IS… EXPERIENTIAL
Today’s new wealthy consumers are more informed, more globally exposed, and more sophisticated than previous generations. Baby boomers in particular are now “less materialistic and more experiential,” noted Cognizent in a luxury retail trend study. And HNWIs are being led into the luxury experience by prestige brands such as Christie’s. “The worlds of high-value art, education, travel, luxury goods, and architecture are colliding,” observes Dirk Boll, European Managing Director of Christie’s. “Our focus remains on serving our clients whenever and however they choose to connect with art. Increasingly they are connecting with art in luxury sectors such as architecture and travel, where the enjoyment extends beyond ownership and into experience.” This shift toward experiential luxury is similarly reflected in the amenity and lifestyle preferences of HNW home buyers.

– “Buyers are increasingly seeking to spend money on property features that could be described as ‘experiential’, such as a meditation garden or an outdoor shower.”
Justine DeLuce of Chestnut Park Real Estate, Toronto

– “When economic imperatives aren’t driving things, there is a quest for meaning and a better life. The choice becomes: How is family life enriched by having access to amenities and lifestyle options that can be experienced every day?”
Ruth Kennedy Sudduth of LandVest, New England

– “In Pebble Beach and Carmel, buyers are looking to harness some of the perceived slower tempo and quality-of-life priorities, especially when they select a property with provenance. It is not that the former owner has to be famous, or even widely known, but rather that the home has a history, a legacy and sense of presence that the new owner can honor as they create their own memories”
Bill Mitchell of Carmel Realty Company, Carmel, California

4 | LUXURY IS… CONVENIENCE
The resurgence of urban downtown cores in many major cities and changing age dynamics are having a significant impact on the home-buying preferences of the world’s most affluent. As millennials grow up and baby boomers transition into life as empty nesters, many larger cities are witnessing a surge of affluent older buyers to urban areas. Residents of suburban areas are also increasingly seeing a preference for urban amenities.

– “Local empty nesters are opting to ‘downsize’ from large single-family homes into generously sized condo and townhome units, with many opting for developments that are within walking distance of offices, shopping, and restaurants.”
Ron Shuffield of EWM Realty International, Miami, Florida

– “We have witnessed a trend of affluent buyers, generally aged 50 and above, selling the house in the greens and moving to town.”
Michael Blaser of Wüst und Wüst, Zurich, Switzerland

– “Many baby boomers are downsizing and wanting to live near town for the convenience. They’re looking to be as close to city/urban living as the suburbs will allow.”
Barbara Cleary of Barbara Cleary’s Realty Guild, New Canaan, Connecticut

– “Lisbon’s property market has been growing, fueled by demand from clients looking for new and modern buildings in the city center.”
Rafael Ascenso of Porta da Frente, Lisbon, Portugal

Magnificent Villa, Lisboa, Portugal
Magnificent Villa, Lisboa, Portugal

5 | LUXURY IS… AGE-AGNOSTIC
Multigenerational travel (trips involving at least three generations) was dubbed the biggest trend for 2014 by a luxury travel industry report. As growth in this type of tourism increases, some prestige real estate markets, particularly those in resort destinations, are seeing increasing demand for luxury homes with spaces that have the flexibility to adapt to generational diversity and entertaining requirements.

– “Wealthy buyers are increasingly focusing on family spaces such as places for adult children or grandchildren and guesthouses for elderly parents.”
Dub Dellis of Walt Danley Associates, Paradise Valley, Arizona

– “We are seeing a trend toward the purchase of upscale apartments in luxury vertical developments that offer multi-functional spaces for flexible entertaining.”
Lucia Cavazos of Gerencia RED in Monterrey, Mexico

– “A wide array of amenities and entertainment for the entire family are increasingly a priority for affluent home buyers. This trend is especially noticeable in young families where homes with amenities for children of all ages has become a must. This has led to a rise in important new developments being built in the outskirts of Bogotá, even within Country Clubs.”
Juan Carlos Corredor Muñoz of Julio Corredor & CIA, Bogota, Colombia

6 | LUXURY IS… ULTIMATE PRIVACY
The age of the smartphone and its pervasive social-media feeds has brought with it an increasing desire for privacy, particularly for high-profile and celebrity buyers of luxury homes.

– “Eye-grabbing street views, which take out-of-town tourists by surprise and which took precedence in the days of Gregory Peck and Greta Garbo, have morphed into a preference for longer-than-ever gated drives, security systems, and being out of the public eye as much as possible. Ostentatiousness has been abandoned in favor of subdued.”
Jeff Hyland of Hilton & Hyland, Beverly Hills, California

– “A key characteristic of many of today’s highest-end listings is ultimate privacy and seclusion. Paparazzi-proof hideaways—such as Donna Karan’s ‘The Sanctuary’ with its private-island feel—are increasingly sought after by security-conscious buyers.”
Katherine Baryluk of Regency International, Turks and Caicos

The Sanctuary, Parrot Cay, Turks & Caicos Islands
The Sanctuary, Parrot Cay, Turks & Caicos Islands

7 | LUXURY IS… COLLECTIBLE
“For today’s wealthy investor, acquiring and holding collectibles is akin to building a store of treasure,” notes a report from Barclay’s Wealth Insights. Trophy real estate is the ultimate collectible treasure. Like buying a prized sports team or high-value artwork, trophy residences can ignite the passions of ultra high-net-worth individuals (UHNWI). Many developers of ultra-luxury properties have baked collectible concepts right into their plans with limited-edition structures and one-off creations by highly regarded international architects and designers.

– “South Florida developers and globally recognized star architects are creating ‘works of art’ within many of Miami’s newest condo buildings. Buyers are being drawn to purchase third, fourth, or fifth homes here in order to own a unit in one of these iconic buildings.”
Ron Shuffield of EWM Realty International, Miami, Florida

– “One-of-a-kind trophy homes are becoming the latest ‘must have’ for the world’s most affluent. Akin to owning a Warhol or a Bugatti, UHNWIs are increasingly seeking to own an architectural collectible, such as one of the 41 residences within the iconic Ten Trinity Square development by London’s River Thames. Discerning buyers see acquisitions of this kind as an opportunity to be a resident of a living piece of art and history.”
Dan Conn, CEO of Christie’s International Real Estate

Ten Trinity Square, London, England
Ten Trinity Square, London, England

8 | LUXURY IS… TURNKEY-READY
Many buyers are willing to pay a premium for the convenience of a “just bring your toothbrush” property, outfitted with top-of-the-line accoutrements that amplify a luxury lifestyle. Brokers reported an increased interest in brand-new residences, with buyers happily paying a premium for security, concierge, and other luxury amenities.

– “The year’s top sale in Beverly Hills was a $70 million ‘spec’ home, purchased with all furnishings and appointments, including an extensive collection of wines in the 2,500-bottle cellar and a fully stocked $200,000 candy wall. Tired of the line ‘just bring your toothbrush,’ the agent even provided eight OralB 3D Braun toothbrushes as part of the deal!”
Jeff Hyland of Hilton & Hyland, Beverly Hills, California

– “Many buyers are more insistent on immaculate condition of houses or apartments. They have little appetite for refurbishment or ‘a project’ and are willing to pay more to be able to move in straight away.”
Lulu Egerton of Strutt & Parker, London

– “Responding to interest from buyers, a number of new ‘turnkey’ homes came onto the market in 2014, an emerging trend in St. Barths.”
Christian Wattiau of Sibarth Real Estate, St. Barths

9 | LUXURY IS… A BLANK CANVAS
At the other end of the spectrum, some enthusiastic buyers are pushing the desire for newness to new heights. Impeded by lack of quality inventory, more and more ultra-affluent buyers wish to build their owntrophy homes from scratch.

– “One of the most interesting trends is that of purchasing a trophy property with an older home and tearing that home down. As the very best lots were some of the first developed in Jackson, we anticipate that trend to continue.”
Julie Faupel of Jackson Hole Real Estate Associates, Wyoming

– “The highest priced sale in 2014 was a $13 million estate. The property is set to be demolished and the owners will rebuild a new mega home.”
Robert Greenwood of Regency International, Turks & Caicos

– “Due to the greatly constricted inventory in our market, we’re seeing significant new and custom construction for buyers who are seeking expansive, one-of-a-kind estates.”
James Bruner of Fenton Lang Bruner & Associates, Jupiter Island, Florida

10 | LUXURY IS… UNDERSTATED
Luxury is no longer about brash displays of wealth, note many experts in our network. Instead, scaled-back, quality-over-quantity luxury will continue to be one of the key tenets behind many prestige property acquisitions.

– “Luxury buyers aim to be more discreet, less ostentatious. There is a trend toward architecture that blends into the topography of the area, not about everything being overtly expensive.”
Justine DeLuce of Chestnut Park Real Estate, Toronto

– “Quality of amenities and lifestyle offerings are becoming more important to affluent buyers than the size of a home.”
Emily Moreland of Moreland Properties, Austin, Texas

– We are witnessing a continuing shift from ostentatious displays of one’s wealth… to a more restrained expression of tasteful understatement.”
Bud Clark of Willis Allen Real Estate, La Jolla, California

Austin, Texas
Austin, Texas

Oppenheim Architecture Reveals Plans for $36 Million Oceanfront ‘Casa Playa’

Casa-Playa-Chad-Oppenheim-1

Chad Oppenheim‘s Florida-based firm, Oppenheim Architecture, has just unveiled plans for a 23,000-square-foot, resort-style residence in Golden Beach, set to break ground in the coming year.

Equipped with an energy-efficient green roof, the home—which boasts 6,000 square feet of terraces, along with a 5,000-square-foot spa and fitness floor—showcases numerous spa pools, sunken hamman rooms, an entertainment area complete with a home theater, a safe room, and a lap pool accompanied by a waterfall. In addition, staff quarters have a separate entrance and staircase access within the villa.

The modern, temperature-controlled abode—which wholly reflects the sustainable, nature-inspired design Oppenheim is renowned for creating—touts an exterior complemented by a three-story eco-wall, which features 25 different plant species that will magnificently burgeon and wrap around a spiral staircase and hydraulic elevator.

The house is reminiscent of a few of Oppenheim’s past residential creations, particularly the Bal Harbour House, which sports a similar streamlined, rectangular structure that seamlessly blends in with its natural surroundings.

Fuente: Hauteresidence.com

The Elaine estate: Australia’s finest property

imagereader (3)Acclaimed as Australia’s finest property, the Elaine estate is one of the most significant offerings ever to come to market in Australia. Situated about three miles from the city center on 1.7 acres with approximately 143-foot frontage on Seven Shillings Beach, no comparable estate has ever been offered for purchase. Erected in 1863 in the grand Victorian mansion style, Elaine’s ballroom, numerous balconies boasting stunning Sydney Harbour views, and rolling gardens have played host to a bevy of important guests across four generations of ownership by one of Australia’s greatest media families.

Spanning six separate titles, the estate offers the flexibility of a magnificent family compound to potential luxury apartment development. Elaine is the priceless jewel of Sydney and the estate’s attributes and deep-seated history are impossible to replicate, making this a truly unique opportunity to own a piece of Australian history – and to invest in its exciting future.

Fuente: christiesrealestate.com