Luxury Real Estate

By Simon Turner of Marquette Turner Luxury Homes

Not so long ago, every second television show seemed to be about renovating run-down homes. With the current real estate market being less enticing, these shows seem to have dropped off.

The irony is, of course, that now is the time that you’re more likely to find a bargain.

If indeed there are more and more buyer’s markets throughout the world, then for those with finances available, there’s never a better time to get a good deal.

Therefore, we’ve put together four essential factors that you must consider to ensure that you complete the project with as much financial reward as possible.

CONSIDER THESE

1. Purchase Price — The lower price you pay, the more potential there is for profit it at the end. Remember, you generally make the money when you buy, not when you sell!

2. Renovation Expenses – Be as exact (and honest with yourself)as you can for each room that you are renovating, and include some “room-to-move should you be faced with the inevitable surprises (such as dampness, termite problems, legals).

3. Holdings Costs — The longer you own the home, the higher your costs for mortgage, taxes, and insurances will be.

4. Anticipated Sale Price — Be honest with yourself and compare your property like-for-like with others that have SOLD (not that have just been on the market for an eternity).

When undertaking a renovation, take into account how long it will take to complete. From “go to woe”, the market conditions could have changed immensely (for good or for bad) so try and take into account each scenario and what your subsequent actions will be (eg. if the market is worse, what would you do?)

Simply by doing your homework you’ll ensure you reduce the number of surprises.

Good luck!

By Ann Adenius of Signature Residences Worldwide

This spectacular modern masterpiece is truly a unique trophy property

The sculptural home truly amazes thanks to its visual impact and conceptual design: it’s a stratified building with texturized dark concrete facades.

The house is located in the exclusive Somosaguas area, northwest of Madrid.

The interior is full of surprises, solved with a very complex array of spaces with different heights and levels, as well as the particular shape of some of the rooms. The lower level contains the main hall -covered by a curved ceiling that accentuates its relevance-, living and dining rooms, master bedroom, gym, interior pool, kitchen and service areas. The basement is dedicated to health and leisure, with a bar, games room, chill out, massage room, media room, cellar and gym.

There are 5 bedrooms + 3 bedrooms for staff. The villa boasts 1,700 sqm of living space, on a 4,900 sqm plot of land.

Price: Euro 11million

Signature Residences Worldwide

Tel: +44 (0)20 7095 8701

Email: info@signatureresidencesworldwide.com

www. http://www.signatureresidencesworldwide.com

By José Ribes Bas of Rimontgó

The drop in property prices in Spain is bringing value back into the market, but even against this background there are some particularly exceptional finds to be had if you know where to look.

Moreover, such opportunities are not limited to large apartment developments. The attached properties are examples of quality homes featuring elegant styling, luxurious amenities and prime locations that have been reduced in price to levels not seen for five to ten years!

As specialists in luxury property in the Valencia region, Rimontgó source villas, apartments and homes that offer the best quality/price ratio in the region. If you are looking for optimal value in the current market this sample of newly reduced properties will be of particular interest:

Villa-Home in Calicanto


Luxury home for sale in Calicanto - Villa located in Cumbres de Calicanto Estate set on the hill in Torrente, Valencia. Spacious seclude and private mature garden. Price: 1,100,000 EUR

Villa-Home in Mas Camarena, Betera


Luxury home for sale in Mas Camarena, Bétera - Fine villa in luxurious Mas Camarena urbanisation in Valencia - ideal for stylish family living. Price: 1,400,000 EUR

For the full article click here

By Meghan Barry

Today, LuxuryRealEstate.com posted its 1,000,000th property listing since the website originated in 1995. This is a major accomplishment for a website with such specific and discriminating standards. Properties listed on LuxuryRealEstate.com must be in the top 10% of property listings in any given market. The 1,000,000th property, a stunning waterfront Belle Epoque villa in Saint Jean Cap Ferrat, France (near Nice and Monaco) listed by Home Hunts SARL can be viewed here: http://www.luxuryrealestate.com/1000000.

As a leader in the real estate and technology space since 1995, LuxuryRealEstate.com has paved the way on the internet for many other real estate websites, specifically in the luxury niche. LuxuryRealEstate.com is the most-viewed luxury real estate specific website in the world, with far more content than any other website of its kind. LuxuryRealEstate.com was recently named a Webby Award Honoree, the only real estate website to be granted this honor.

Property listings on LuxuryRealEstate.com are represented by members of the Who’s Who in Luxury Real Estate network which includes 1,500 of the world’s finest real estate companies and individuals with properties in over 100 countries. Members have access to an array of powerful marketing solutions, including access to the Luxury Lounge, a ‘gated’ social networking website for members only. Participation is strictly invitation-only by CEO/Publisher John Brian Losh. The Who’s Who in Luxury Real Estate network is governed by the Board of Regents.

Found on Zillow.com’s blog, LuxuryRealEstate.com member Sandi Phillip’s La Quinta listing is featured.

Frankie Avalon, singer and teen heartthrob actor opposite Annette Funicello in the 1960’s beach-themed movies (“Beach Blanket Bingo,” “Bikini Beach“) has listed his Spanish-style La Quinta home at 80373 Spanish Bay, La Quinta, CA for $1,180,000. It is listed by Sandi Phillips of California Lifestyle Realty.

Most recently, Avalon appeared on American Idol to surprise host Simon Cowell by singing “Venus,” the first of his two #1 hits from 1959 — the year Cowell was born. Avalon’s other #1 hit was “Why.”

Avalon’s home is located on PGA West, a “master-planned country club community” built in 1984 and the site of many PGA, LPGA, and Senior PGA tournaments. PGA West contains six golf courses and Avalon’s is on the 10th fairway of the Jack Nicklaus Tournament course. Avalon is an avid golfer and purchased the home in 2005 for $1,185,000, which is $5,000 more than its present listing price.

Whether you’re a golfer or not, the home looks to be a serene, desert getaway with views of the San Jacinto Mountains. It also has a popular “Quevedo” floorplan, which features open rooms with disappearing walls of glass that open the kitchen and family rooms to the outside. Also, if you like the furnishings you see in the photos, they can be purchased outside of escrow.

By Nicola Christinger of Home Hunts

In a world where sometimes style over substance has become the norm, people who want to indulge and enjoy a luxury property without feeling guilty for nature and its surroundings – need look no further. La Cacao Pearl is the world’s first non-profit, luxury eco-resort to be built on an entire private island, at the northernmost tip of Palawan in the Philippines.

Their philosophy is simple: to share all profits with residence owners and a purposefully-formed foundation, which will concentrate on social and environmental preservation programmes in these Palawan islands.

Set in 116 acres of lush rainforest and eight, pristine beaches, the eco-chic resort offers private residences with zero carbon cost, five-star service, an infinity pool, wreck and reef diving, and an organic spa, gardens, bar and restaurant.

Only 10% of the island will be developed which means that there are no ‘good’ or ‘bad’ locations to buy and no further development will take place - ever. A guarantee which is secure and Joel Cere, CEO of Cacao Resorts confirms: “we provide an authentic experience for the grown-up backpacker, a guilt-free option for the traveler with a conscience, a breath of fresh tropical air for sophisticated urban escapees.”

There is a choice of locations: beach, garden, resort and crèche (especially for guests/owners with children) and all 1 and 2 bedroom residences have been designed by film art director, Antonio Calvo (Love Actually, Alexander, Pride and Prejudice). Antonio will work with owners on bespoke requirements, custom finishings to compliment the interiors which use exotic timbers from sustainable forests and designs from Asia’s boutique specialist, Budji.

Buyers and investors who want to own a truly unique property are guaranteed sustainable construction methods, 100% renewable energy with an option to buy, re-sell or rent. The resorts rentals are managed by Cacao Resorts, which ensures that the clientele remains private. Prices for the 1 and 2 bedroom residences start at USD $280,000 – $500,000

The island has been described by National Geographic magazine as “incredibly beautiful natural seascapes and landscapes”, by Condé Nast Traveller magazine as “having the best beaches overall in Asia” and the resort has just received a “Best Residential Development” award by CNBC Asia Pacific Property Awards 2009.

The resort is being marketed through HOMEHUNTS and for full details of residences and floor plans please contact: nicola@home-hunts.com

Only happy people who care about the world we live in, need apply!

By Nicola Christinger of HOMEHUNTS

Strictly “entre nous” the luxury property market in France is still as buoyant as ever. Two young men who are specialists in finding homes for anyone with a budget over 750,000 euros, are Francois Xavier de Vial and Tim Swannie. They started HOMEHUNTS in 2005 and now, after careful business handling and a yearly turnover of several million, the lads have earned themselves an enviable reputation with the luxury real estate markets.

French national Francois and British Tim have a true “entente cordial” working relationship and have a selection of the best properties to buy throughout southern France with prices ranging from 750,000€ to more than 60 million euros.

HOMEHUNTS work as buyers agents and their international team, based throughout Southern France are all experts in their local areas. The team work on behalf of an ever growing number of clients from around the globe on a daily basis. Most of their clients are extremely busy and do not have the time or inclination to search the market for their dream home, preferring to entrust the search to the specialists. Francois, Tim and their team work with all of the best selling agents, builders, developers and private owners and their job is to truly search the whole market for their clients to find the best selection of properties according to their needs.

This service is open to anyone but they have an impressive client list which includes a range of well known celebrities in the music and film industries, sports personalities, high profile company directors as well investment companies looking for good opportunities throughout the South of France. Over the past 3 years they have been assisting buyers mainly from the UK and Europe (as well as USA). However, more recently they have also had a large number of Russians, South Africans, Chinese and clients from Dubai and Abu Dhabi, all wanting a slice of the luxury life. And who can blame them? There are not many parts of the world like the French Riviera where you can be on the beach in the morning and on the ski slopes by the afternoon with more than 310 days sunshine per year. According to Tim, “A French law called the Loi Littoral does not allow builders to carry on developing the coastline of France as they wish to keep its natural beauty. These restrictive building laws mean that property is constantly in demand and the coastline is not ruined by high rise buildings or huge holiday complexes. The Riviera in particular is one of those rare places in the world which will always attract the rich and famous due to its excellent climate, stunning scenery, easy access and glittering reputation”.

Good news for the Riviera but places such as the Languedoc-Roussillon region is still one of France’s best kept secrets. Touching the Spanish border and stretching up to the Rhône, this intoxicating region is home to some of their finest luxury properties.

Another region which is fast becoming a highly desirable destination for the luxury buyer is the Dordogne and surroundings which has now excellent airline links to places such as Bordeaux.

“Contrary to what some people think, now is still a good time to buy French property. As a result of the downturn in property markets, there are good buying opportunities for those in a position to make a decision. There is a very good selection of property on the market at the moment, and in many cases prices offer excellent value - sellers know they need to attract buyers with a good price in the current market” says Francois-Xavier de Vial.

For more information and a selection of luxury properties throughout southern France please visit www.home-hunts.com

For more information and interview details please contact:

Nicola Christinger

Press Relations Manager

www.home-hunts.com

nicola@home-hunts.com TEL: + 33 (0)6 76 37 28 04

Text and pictures copyright of HOMEHUNTS 2009

By Heidi Warth of Warth & Properties

In an article published recently by the Financial Times, Majorca is number five in the Top 10 safest regions worldwide for property purchase. In the last few years Majorca has become one of the most sought-after destinations. Its excellent infrastructure, accessibility and climate attract potential buyers from many European countries to the island. The result is a stable market, especially for luxury property in prime locations. The prices for this segment remain steady, as quality never loses its value.

In spite of the current financial and economic situation worldwide, Warth & Properties still have serious, solid enquiries from potential buyers. “Many potential buyers have now realised that it makes sense to invest their money in premium property, as it is not safe with banks any more,” according to successful estate agent Heidi Warth.

Warth & Properties (www.mallorcagold.com) stands for individualised service with a personal touch, seriousness, professionalism and many years of experience in the luxury sector. We specialise in exclusive properties in top locations on the island, especially the residential area Son Vida with its 3 golf courses, and the South West of the island. All the properties we offer are carefully selected. On the basis of the extensive knowledge, experience and contacts we have built up over the last 10 years, we will be able to find the right choice for you. We will be pleased to look specifically for properties which are not to be found through the usual channels.

By Raphael Harris of World Real Estate Immobiliare

One of the few houses on the seaside in Capri and forever the only home nearby the famous Faraglioni rocks. This unique combination makes the site and property exclusive. The house, built in 1913, includes an authentic Roman cistern, which can be transformed into an appealing extra room.

The home has two floors, each equipped with a kitchen, a bathroom, an extra toilet and a separate entrance. The upper floor, which holds 90 sqm, has a central oil heating system and a very big terrace of 110 sqm with amazing ocean views. The ground floor with 50 sqm, offers a terrace space of 70 sqm. Through a private access, one can go directly through the garden to the beach or to a boat anchored nearby. The Faraglioni Villa is one of the most famous and prestigious houses in Capri. It will offer you a new life shared between the mountains, infinite sea and the security in the property value of Capri, which is one of the most secure in the world. It is an enchanting place for you, your family and friends to rest, a prestigious place for one to meet business partners in a not so formal atmosphere. One can certainly not go wrong with the Faragiloni Villa.

By Ole Jespersen of IRG International Realty Group

The Market Situation

Ole Jespersen, sole owner of IRG International Realty Group, says: “At every function - private or business - I am being asked about the market situation. This is not new or as a result of the present economic situation, but also happens in the good times. People like to hear about the property market as it is a topic that actually interests the majority of people. The simple fact is, the property market is the most influential factor for the private, national and the international economies. Just remember what started the ongoing situation: American sub prime lending.

IRG is in a unique situation to comment on the ongoing property financial trends and effects as we are not just a local Portuguese firm, but through our international affiliations and networks we receive constant information and updates from around the world. Within Portugal we are represented in key areas such as the Algarve, the Blue Coast, the Silver Coast and Estoril/Cascais & Sintra as well as Lisbon city. We are involved in normal brokerage (single properties mainly for private buyers) and the institutional and development market with resorts, hotels, residencies and golf courses.

We have for some years published an annual report on the Luxury Residential Tourism Market. The report has become a “reference work” within its area and is statistically based on historical factual figures. The report for this year will be published in May. The following comments are therefore based on observations and personal experiences.

Yes, the market is tough and has seen downward trends in specific sectors. Hardest hit is the low to middle market with especially off-plan, speculative apartment acquisitions. High debt financed purchases have become very scarce with banks no longer being willing lenders and this has had a severe overall effect for developers.

But still, prime locations, prime quality or landmark properties are still in demand. Yes, DEMAND. We are transacting a number of high profile properties in all key areas such as Quinta do Lago, Estoril, Cascais including Quinta da Marinha and Quinta Patino as well as some central Lisbon properties. Some deals are land, some deals are renovation properties and some are brand new, high quality villas and luxury apartments. We represent a number of high value, high quality, prime location residence projects where we are taking substantial reservations - even in this market.

Additionally we also have a number of clients waiting, waiting for THE deal or a distressed sale, but in the high end of the market there is still resilience to "vulture" price cuts. The market has stayed pretty stable which means transaction numbers have been reduced as buyers in general expect "deals". Most transactions also involve lengthy negotiations involving legal, tax and financial issues.

At IRG we are not just sitting it out. We are proactive, we are diligent and flexible and we adapt. And finally we try to create solutions for our clients - be it buyer or seller. For our institutional and development clients we are advising on new activities in the markets internationally and we are constantly working on new approaches to product, marketing and PR. We want to sell real estate as real estate is the catalyst for turning the markets.

Based on the above we will announce shortly a number of new business initiatives running alongside our main property mediation business. These initiatives will be an additional service for all our clients and will reflect our overall aim to be of service and to find solutions for our valued clients.

At IRG we are not pessimists - at the moment we are cautious optimists and we see great potential in the future. We always have to remember we are based in Portugal - the most ideal location for European short and long term holidaying, for the second home or for a change in life. Portugal has everything going for it. So let's make it happen together”.

About IRG International Realty Group

IRG International Realty Group is one of the leading international brokerage companies in Portugal and specializes in sales of Portuguese high-end and luxury residential real estate. IRG is the exclusive affiliate in Portugal of Christie’s Great Estates, a worldwide real estate network and subsidiary of the world’s oldest auction house, Christie’s. IRG’s Head Office is located in the prestigious Avenida da Liberdade in the heart of Lisbon and there are also boutique offices in Quinta do Lago in the Algarve, Estoril and in Kensington, London, United Kingdom.

www.irgportugal.com