Luxury Real Estate

Going to Madrid? This beautiful city features thousands of high quality bars, cafés and restaurants, but none has quite the history of Restaurante Botin. Since 1725 this culinary phenomenon has been serving traditional Spanish cuisine to millions of happy customers. It even won a nod from The Guinness Book of Records as the oldest restaurant in the world.

Located conveniently close to Plaza Mayor, Restaurante Botin is one of those tourist experiences that should not be missed, ordinary madrileños also choose to dine there.

The menu comprises traditional Spanish fare, shunning the tiny, fussy chemical experiments so beloved of chefs de nouvelle cuisine in favour of good, hearty dishes.

We recommend the garlic soup with egg (sopa de ajo con huevo) or scrambled egg with black pudding and potato (revuelto de la casa) followed – providing you’re not a dedicated vegetarian - by one of the restaurant’s signature dishes, roast suckling pig (cochinillo asado) which is carved and served at your table, or the equally delicious roast lamb (cordero asado).

Spain’s cuisine might be famous throughout the world, thanks to the ever increasing interest in tapas dishes and the formidable reputation of El Bulli, but unfortunately dessert menus are sometimes disappointing, relying on the old favourites of crème caramel, ice cream or Manchego cheese with quince jelly (membrillo). Restaurante Botin’s dessert menu, by contrast, is packed with delights for the sweet-toothed. The bartolillos de Madrid are a delicious variety of cream puff and are especially recommended. The wine list, too, is a lengthy celebration of Spanish grapes, from bottles of affordable table wine to some of the country’s most exclusive and expensive vintages.

Historians have commented that the area in which Restaurante Botin stands is notable for the mixture of characters that once roamed its streets. In the seventeenth and eighteenth centuries the lowest villains would rub shoulders with Madrid’s gentry here, and today that same egalitarian spirit lives on in the philosophy and ambience of this extraordinary restaurant.

Just a couple of the properties that Rimontgo has available for sale in Madrid city:

Luxury apartment in the historic centre

Apartment in iconic building, Madrid

Madrid properties?

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

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 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

By Thierry Journiac of TerraCognita

This truly stunning luxury property is located in Roquebrune Cap Martin in the Monaco Monte Carlo bay, on the French Riviera.

With a total of nine suites, a three-zone living room, three kitchens, stunning terraces, heated swimming pool, access to the beach and parking for over 6 cars. The property of 500 m² is set in a 3,000m² plot, consisting of a main building and a newly built independent guest house. Thanks to the unique position and the exquisite attention to detail by the owner to utilise every architectural choice, the villa offers the feeling airiness focuses on the amazing views of the exuberant Maritime Alps stretching from France in to Italy, passing over the fabulous bay filled with yachts, all the way round to the wide Mediterranean sea.

Inspired by his passion for the sea the owner chose the famous yacht architect Marco Casali (the prized Ferretti group architect) to follow the six years of complete renovation. You can feel this passion for the sea from the first instance you step into the property and many have likened it to being on a super yacht.

The concept of the villa is simple; to have the best combination of comfort, beauty and elegance, all enclosed in a warm but modern style. Floors in wengè wood contrast with the warmth of the maple used throughout for the walls, modern Minotti sofas harmonically combined with the evergreen Poltrona Frau Chester posed upon soft leather carpets, 60" Plasma monitor, can be used for either a business conference or TV. A carefully designed illumination system employed throughout the whole house has been studied to always create the atmosphere you need or desire. Nothing has been left to chance.

The main building has two levels; on the ground floor there is a fully fitted kitchen with Gaggenau appliances for every kind of culinary use. A high ceiling triple-zone living room with an open fireplace, with three large slide away doors on to the spacious loggia with flowing draped linen ceilings and wide rattan sofas offers the perfect place to relax while taking in the views. Back inside the living room, a stylish glass and stainless steel staircase brings you to a mezzanine with a pool room, office and en-suite guest room. Another guest suite completes the ground floor.

On the floor that leads to the garden you find the fabulous 100 m² master suite with its modern ceiling arches, B&B dressing room, king size bed, 32" flat screen, master bathroom with a twin Jacuzzi tub, huge shower, Hamam Turkish bath and an open fireplace. On the same floor there's another suite for guests and staff quarters with bedroom, bathroom, laundry room and finally a fully proofed strong room for the security alarm system.

All bathrooms are in carrara marble and the tiles have been shaped in big pieces to take advantage of the natural veins that flow through the marble.

The independent guest house situated in the lower garden area has 4 suites and a kitchen all in the same style of the main building.

All the rooms in the house have access to SAT TV, wireless internet and independent heating and air conditioning and all facing the sea.

The property has a large garden with maritime pine trees typical of the area and many exotic tropical bushes, plants and trees.

By Jason Leach of R.CHAYLA Immobilier

What should you be doing right now if you want to buy property in France? Are prices rising, falling or stabilising? Or should we just stick our finger up and try and decide which way the winds blowing. Having looked at the market long and hard and scratched my head a lot I think I have concluded that serious buyers can strike serious deals with serious buyers.

Prices have reduced in most cases and now the adjustment in prices seems very much more realistic and the serious sellers are being more than reasonable. Do you wait a bit more? Do you take the gamble on sterling rising against the Euro or do you waste your chance and curse your luck the moment the Pound reaches parity with the euro and any advantage you had has just been negated!! I had a client back in August whi had sold up in England and was renting, waiting for the dream house to come along, cash in the bank and in no immediate rush who would blame them. I called them when a new suitable house became available and he informed me that his money had been frozen as it was invested in an Icelandic bank and they could not withdraw there life savings. If this wasn't bad enough the calculation on the exchange rate fell from approx 1.34 to 1.20 reducing his purchasing power by a further 28000.00 euros. Interestingly a large amount of hits on the website are coming from the United States and with the Dollar back to a very good exchange rate it seems the Americans are going to be investing and realising their dreams of owning a house in Europe, it couldn't be a better time for them to buy property.