_International Property Digest: Ultra-prime havens outside the EU
While the long-running Brexit saga has given cause for hesitation in some European markets, ultra-prime property buyers have a world of choice for their next purchase. Locations on their radar span from the 24/7 buzz of Manhattan, Aspen ski lodges high in the Colorado Rockies to private islands in Bahamas and waterfront mansions in the Hamptons.
Ultra-prime homes
These are all super-prime havens with a timeless appeal, globally renowned ski resorts, oceanfront locations and dynamic cities with an established history of attracting discerning, well-travelled buyers who value beauty and culture.
The primary concerns for these buyers are exclusivity, personal and economic security and easy access to their main residence along of course with thoughtful financial planning. Several high-net-worth individuals have turned away from New York for example, looking to escape increased state taxes there which in turn has led to something of a resurgence in the property markets of South Florida.
In that market, Miami is a focus. High-end homes currently on the market include 1500 Ocean Drive, a US $19,500,000 five bedroom South Beach penthouse with over 8,400 square feet of internal space, 7,000 square feet of wide seafront terrace and its very own cinema.
If low-level living is more appealing, how about a six bedroom Balinese-themed house directly on Miami Beach with expansive gardens, a vast reef pool, mooring for a 100 foot yacht and sophisticated boat lifts for US $35,000,000.
For many buyers at these price points however, the magnetic appeal of New York will never fade and the iconic 111 West 57th Street, set to be an emblematic tower on Manhattan’s Billionaires Row, could be the one. Rising 1,428 feet above Steinway Hall overlooking Central Park with exterior cladding of terracotta and bronze filigree and warm interiors providing a calm, hand-crafted finish – a marked change from recent stark, contemporary towers. Its unique appeal is a private, cossetted New York lifestyle with exceptional facilities including a gym over three floors.
Buyers based along USA’s eastern seaboard might consider the Hamptons for a weekend home or chase the sunshine down to the Bahamas. Private island homes will always have their appeal – Little Pipe Cay is a beautifully maintained and dreamily attractive nine-bedroom home and estate in the Exumas surrounded by idyllic white-sand beaches currently available for US $85,000,000 – but a younger crowd has also discovered Albany, a 600-acre resort on Nassau that opened in 2010 with Tiger Woods, Justin Timberlake and Ernie Els among its founders.
Albany’s lavish facilities include a recording studio, 71-berth marina, international school and extensive sports and leisure opportunities – equestrian, golf, tennis, gym and spa - with a philosophy of “live, work and play here”.
“Not much shouts super-prime more than Beverley Hills and Malibu where some of the most high profile and wealthiest people in the world choose to make their home,” says Edward de Mallet Morgan of Knight Frank. The awe-inspiring award-winning architecture at Orum House in Bel-Air, for sale at US $56,000,000, has a futuristic magnificence that includes floor to ceiling motorised glass Sky-Frame doors that open the entire house to the Pacific Ocean and Downtown Los Angeles.
New ultra-prime havens
There are also locations that might not have a lengthy historical reputation but rather are newly emerged safe havens. “Singapore for example, once the little brother of Hong Kong, has now come of age, providing a safe and fertile hunting ground for super-wealthy Chinese and especially those moving from Hong Kong,” says Mr de Mallet Morgan. “We have seen a number of record sales of both apartments and houses in Singapore with one property selling for S $167 million.”
The choice of ultra-prime homes for ultra-prime buyers is truly global.
For further information on Knight Frank’s portfolio of ultra-prime homes for sale contact Edward de Mallet Morgan, International Residential.