Global Luxury Property Review

July 2013

A monthly review of luxury property news globally.

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Luxury brands teaming up with property developers

Luxury-goods brand such as Bulgari and Fendi are teaming up property developers to offer upscale designer properties.

In what is predicted to become a new niche in luxury real estate, brands are now putting their names to entire buildings.

These "Branded" buildings will bear the appellation of

a world-class luxury trademark are sprouting up in status-conscious cities around the world, giving buyers something to get excited about.

The French crystal brand known for its HK$1,000 champagne flutes, Baccarat, has branded the Baccarat Residences in Shanghai and New York. Luxury jewellery brand, Bulgari has helped create the Bulgari Residences in London and Bali is close to the hotels which have been built by the luxury jewellery brand. Versace, Fendi and Armani have partnered with developers worldwide - from Morocco to Manila – will also bring their specific aesthetic to residential buildings. Source and rest of article: scmp.com

Manhattan luxury property ‘booming’

Sales of Luxury houses and buildings are on the rise across the area of Manhattan (New York). The number of apartment blocks in the area selling for more than $15 million has risen by 49 per cent This is beginning to make

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Manhattan a rival with other popular cities with the wealthy such as London, according to New York Real Estate, CityRealty. Source and rest of article: NYTimes.com

More foreigners buy a 2nd Italy home

Buying a second home in Italy is on the rise, according to the Scenari Immobiliari Research Institute. In 2012 the total of sales of second homes totaled €2.1 billion, which is an increase of 14 per cent from the previous year. The majority of the buyers were from Germany (around 40%), Great Britain (18%) and Russian (13%).

Source and rest of article: GlobalPropertyGuide.com

London still global luxury capital

London remains to be the luxury property capital of the world according to studies carried out by an online platform dedicated to the sale of high-end properties around the world. More than half of the luxury properties purchased in London were to a foreign clientele, with the biggest buyers from Russia and the Middle East.

This means that the average price of luxury property in London has increased by 35 per cent since 2009. Source and rest of article: PRNewswire

Luxury Property in Morocco ‘rising’

The number of people in the second home industry in Morocco is on the rise. This is said to be fuelled by demand from domestic buyers of second homes, expatriates buying holiday homes and this has recently been strengthen by an influx of investment capital from high-net-worth individuals from abroad.

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Foreign residents are primarily from French-speaking countries, in line with Morocco’s historical links with Romance Europe, and the UK.

Source and rest of article: Property-Abroad.com

Spain’s luxury property could see boost thanks to new visa rules

It is believed that Spain’s new visa for non-Europeans purchasing property over €500,000 is set to gain great interest from wealthy overseas buyers. The Government in Spain has confirmed that as of next year those from the European Union buying property in the €500,000 and above price range will be granted by a residency visa. It is said that this will be especially attractive to buyers from Russia, the Middle East and China. Source and rest of article: PropertyForum.com

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Lady Gaga upgrades to rental luxury

Pop star Lady Gaga is said to have upgraded from her previous apartment where she lived before she was famous to a rented $22,000 per month luxury penthouse in the Central Park in New York according to a report by Life & Style magazine. This is a dramatic upgrade seen as her previous apartment in the Lower East Side area had a $1,100 rent per month.

Source and rest of article:Hollywoordtake.com

Live like a footballer, for £15,000 pm!

Former Everton and England footballer, Phil Neville is out renting his four bedroom penthouse in Manchester for £15,000 a month.

The stunning penthouse which has been nicknamed ‘mansion in the sky’ due to its luxury offers 360º degree views of Manchester.

However the 5000 sq ft property is not for the faint-hearted or those

who suffer from vertigo, as the Orchard Suite sits on the 45th floor of Beetham Tower. Source and rest of article: DailyStar.co.uk Photo credit: Cavendish

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