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20 exclusive property hot spots of the super rich

Last updated on: October 24, 2013 15:02 IST

20 exclusive property hot spots of the super rich

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For the super rich, the world is their playground. When it comes to choosing property that helps them to unwind, geographic does not restrict them.

Global real estate advisory firm Savills ranked the places that are the top preference of the super rich to buy vacation homes.

The firm looked at the average price of prime residential property in these locations, the highest prices for luxury hotel suites, and the exclusivity of these destinations among the elite.

Let’s look at the top 20 locations where the super rich are rushing to buy a property that helps them relax and unwind.

Canouan

Rank: 20

Country: St Vincent & Grenadines

Typical 5-bed property cost: $6 million

Canouan is an island in the Grenadines that has a population of about 1,200 people. Canouan Resorts Development owns two resort on this island and its golf course is regularly voted as the best one in the Caribbean.

Canouan, belonging is an up-and-coming ultra high net worth individuals (UHNWI) resort destination that has experienced significant infrastructure investment.

Major upgrades to its airport have brought more of the global wealthy within its reach.

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Photographs: Courtesy, The Tamarind Beach Hotel & Yacht Club

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Courchevel

Rank: 19

Country: France

Typical 5-bed property cost: $7 million

Courchevel is located in the French Alps and is part of Saint-Bon-Tarentaise. This destination is part of Les Trois Vallees, the largest linked ski area in the world.

The place is know for its ski resorts including Val d’Isere, Courchevel and Megeve. These three hotels command the highest average prices respectively in the French ski resorts, where asking prices for chalets are more than $1,200 per square foot.

These resorts attract a mix of European buyers, including Russians, as well as generating strong domestic demand.

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Photographs: Yrithinnd/Wikimedia Commons

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Malibu

Rank: 18

Country: USA

Typical 5-bed property cost: $18 million

Malibu on the coast north of Los Angeles is home to a number of A-List Hollywood stars and some of Silicon Valley’s wealthiest individuals. Average incomes here are nearly 3.5 times the US average. Indeed Malibu’s CarbonBeach is often dubbed “Billionaire’s Beach”.

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Photographs: Courtesy, Malibu City Council

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Venice

Rank: 17

Country: Italy

Typical 5-bed property cost: $5 million

Venice is renowned for the beauty of its setting, its architecture, and its artworks. The city in its entirety is listed as a World Heritage Site.

The Lido di Venezia in city is a popular international luxury destination, attracting thousands of actors, critics, celebrities, and mainly people in the cinematic industry.

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Photographs: Saffron Blaze/Wikimedia Commons

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Vail

Rank: 16

Country: US

Typical 5-bed property cost:  $12 million

Super rich visiting the Town of Vail us it as a base to Vail Ski Resort, which is considered among the finest ski resorts in the world. It is the is the largest single mountain ski resort in the US.

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Photographs: Courtesy, Vail Ski Resort

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Palm Beach

Rank: 15

Country: USA

Typical 5-bed property cost: $8 million

Over on the east coast in Florida, Palm Beach, is home to a number of the world’s most expensive properties.

Some 10 per cent of this town’s residents are Russian. Florida’s most expensive transaction for a single family home was the sale of Donald Trump’s $95m beachfront.

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Photographs: Courtesy, Department of Tourism, State of Florida

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Verbier

Rank: 14

Country: Switzerland

Typical 5-bed property cost: $10 million

Super rich prefer places in the Switzerland because of the stability of its economy and currency. Verbier is one of the largest holiday resort and ski areas in the Swiss Alps and is recognized as one of the premiere "off-piste" resorts in the world.

Many top skiers have settled in the Verbier area in order to take advantage of the steep slopes, varied conditions and resort culture, according to Wikipedia.

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Photographs: Leo-seta/Wikimedia Commons

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Emirates Hills, Dubai

Rank: 13

Country: UAE

Typical 5-bed property cost:  $8 million

Emirates Hills is a gated community home to the expatriate community of Dubai. The majority of owners hail from the Indian subcontinent, Iran and Western Europe.

Some of the residents included the late Benazir Bhutto (her family still lives there), the managing director of Geant Middle East (Mohammed Ayub Shaikh), and the owners of the Middle East Broadcasting Center and Habib Bank, according to Wikipedia.

Golf is also at the heart of Dubai’s Emirates Hills. The property has reinforced the appeal of the UAE as a “safe haven” to wealthy.

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Photographs: Courtesy, Emirates Hills

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Gstaad

Rank: 12

Country: Switzerland

Typical 5-bed property cost: $7 million

Gstaad has always been a popular destination amongst high-class society and the international jet set.

Situated in the Berner Oberland, Gstaad is home to one of the largest ski areas in the Alps. The middle of the village features a picturesque promenade bounded by numerous shops, restaurants, art galleries, and hotels, according to Wikipedia. Some of the designer labels here include Louis Vuitton, Prada, Moncler, Ralph Lauren, and Cartier.

Current long time residents of Gstaad include Formula One Holdings owner Bernie Ecclestone and French actress Jeanne Moreau. Other famous visitors include George Soros, Michael Jackson, Madonna, and Prince Charles and Princess Diana.

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Photographs: Courtesy, Gstaad Palace

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Monterey Peninsula

Rank: 11

Country: USA

Typical 5-bed property cost: $11 million

The Monterey Peninsula in the US is famous for its Pebble Beach and Cyprus Hill golf courses - widely regarded as one of the most beautiful golf courses in the world.

Residents also enjoy proximity to the coast, deep-sea fishing, sailing and Pacific views. The pace hugs the rugged coastline and enjoys views of Carmel Bay on the south side of the Monterey Peninsula.

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Image: Tiger Woods hits his tee shot on the third hole at Monterey Peninsula Country Club.
Photographs: Robert Galbraith/Reuters

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Lake Como

Rank: 10

Country: Italy

Typical 5-bed property cost: $9 million

This is another destination like Gstaad, which is famous among the super rich since a long time.

In fact, LakeComo has been a popular retreat for aristocrats and wealthy people since Roman times, and a very popular tourist attraction with many artistic and cultural gems. It has many villas and palaces.

Famous people who have owned houses here include Madonna, George Clooney, Gianni Versace, Sylvester Stallone, and Richard Branson.

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Image: A view shows Villa d'Este on Lake Como in northern Italy March 16, 2006. Lake Como is abuzz with rumours that Hollywood sweethearts Angelina Jolie and Brad Pitt could marry on the shores of the lake.
Photographs: Max Rossi/Reuters

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Maldives

Rank: 9

Country: Maldives

Typical 5-bed property cost: $6 million

Asian second home leisure purchases are concentrated in just a handful of enclaves and Maldives is one among them. It’s popular because it offers a refined, hotel-serviced villa product.

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Image: An aerial view shows a resort island at the Male.
Photographs: Reinhard Krause/Reuters

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Seychelles

Rank: 8

Country: Seychelles

Typical 5-bed property cost:  $8 million

Seychelles is a 115-island country spanning an archipelago in the Indian Ocean. It is an emerging destination with the super rich.

Seychelles is seeing increasing second home buying activity, complementing its existing luxury vacation offer.

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Photographs: Courtesy, Seychelles Tourism Board

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St Moritz

Rank: 7

Country: Switzerland

Typical 5-bed property cost: $8.5 million

St. Moritz is a resort town in the Engadine valley in Switzerland and popular destination of the upper class. It has one of the most expensive ski resorts in the world.

The place gets sunshine almost all through the year. Popular activity here include skiing, snowboarding, and hiking.

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Photographs: Courtesy, St. Moritz Tourist Association

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Barbados

Rank: 6

Country: Barbados

Typical 5-bed property cost: $23 million

The island of Barbados provides a wider range of facilities and services and has long catered to the global elite.

The exclusive Sandy Lane resort remains the island’s most desirable enclave.

Barbadian residential communities include polo grounds, golf courses, water sports, marinas, spa centres, restaurants, and boutique shopping.

Given its historic ties, the majority of property buyers on the island have been from the UK. Europeans account for the majority of tourists on the island (39 per cent in 2012), although in more recent years improved flight connections to North America have resulted in a rise in property buying interest among both American and Canadian purchasers.

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Photographs: BajanZindy/Wikimedia Commons

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Monaco

Rank: 5

Country: Monaco

Typical 5-bed property cost: $24 million

Monaco is located on the French Riviera in Western Europe. France boarder the country on three sides and the Mediterranean Sea on the remaining one.

The country’s mild climate, splendid scenery, and gambling facilities have made Monaco world-famous as a tourist destination and recreation centre for the rich and famous.

The state has zero income tax and taxes on businesses are low.

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Photographs: Katonams/Wikimedia Commons

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Aspen

Rank: 4

Country: USA

Typical 5-bed property cost:  $13 million

Aspen is situated in a remote area of the Rocky Mountains' Sawatch Range and Elk Mountains.

The city has been a popular retreat for celebrities since the late 20thcentury. Gonzo journalist Hunter S. Thompson and singer john Denver popularised the place.

Today the musicians and movie stars have been joined by corporate executives. As a result of this influx of wealth Aspen boasts the most expensive real estate prices in the United States, according to Wikipedia.

One of the key attraction for the rich is skiing.

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Photographs: GoDifferent/Wikimedia Commons

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St Barts

Rank: 3

Country: St Barts

Typical 5-bed property cost: $14 m

Saint Barthelemy, or St Barts, is arguably the most exclusive Caribbean leisure enclave today. The island has long been a playground of the rich and famous - back in the 1950s it was a luxury retreat for the Rockefellers and Rothschilds - and today the island hosts celebrities such as Jay-Z and Beyonce, as well as Russian oligarch Roman Abramovich.

Just 22 square kilometres in size, with a population of 9,000, the island’s language, cuisine and culture is distinctly French.

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Photographs: Reuters

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Costa Smeralda

Rank: 2

Country: Italy

Typical 5-bed property cost: $11.5 million

The Costa Smeralda, or EmeraldCoast, is a 35 mile long stretch of rocky coves and beaches on Sardinia’s northern shore.

The brainchild of the Aga Khan, who came across the area on a yachting trip, initial development began in the late 1950s with the creation of Porto Cervo.

Today, the Costa Smeralda is home to luxury resorts and marinas, attracting a range of high profile visitors and residents. It accommodates some of the world’s biggest luxury yachts.

A vast luxury portfolio stretching the coastline, with its roots in the Aga Khan’s original investment, was sold to the Qataris in 2012 who plan further investment in the region.

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Photographs: Frank Muller/Wikimedia Commons

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Cote d’Azur

Rank: 1

Country: France

Typical 5-bed property cost: $28.5 million

For summer sun, the Cote d’Azur is the world’s most expensive, and desirable, luxury leisure enclave.

Easily accessible from Nice and Monaco, its exclusivity, as well as the warm climate, ensures that it remains a firm favourite with the super rich.

Properties here are very carefully designed to maximise privacy and sometimes have a private beach.

This is increasingly sought after as parts of the wider area become increasingly commercialised and urbanised.

The most exclusive enclave is Saint-Jean-Cap-Ferrat, a peninsula of 282 acres, and home to 2,100 inhabitants. It boasts 500 luxurious villas, with residents including Microsoft co-founder Paul Allen and Andrew Lloyd Webber.

The Cote d’Azur region attracts buyers from across Europe, North America, and most actively at present, from the Middle East and Russia.


Photographs: Jongleur100/Wikimedia Commons

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