Emerging Luxuy Markets/Traditional Luxury Markets

Emerging Luxury Markets                           

Unlike primary homes, resort and retirement homes are about pursuing a passion or fulfilling a lifelong dream, whether it is tending your own vineyard, carving perfect turns 60 days a year or just having a place the entire family can’t resist.

Value is derived from price, location and potential for appreciation. Value arises from perfect alignment with personal goals and lifestyle desires. Value is also gained from ease of access and the promise of frequent use.

United States

Buyers, particularly second-home purchasers who have been waiting for prices to bottom out, are beginning “to feel that it is somewhat stabilized and that now is the time to buy”.

An emerging market is as likely to be a tried and true location climbing out of the recession, as it is a lesser-known destination.

Going into 2010, the hottest new places are apt to be traditional luxury enclaves as affluent consumers, still shaken by the global economic crises, place a high premium on value. 

1. Santa Fe, NM - country’s second largest art market after New York. It is also a lifestyle that appeals to a huge range of buyers from mountain bikers to opera fanatics. In other words, a big-city lifestyle with a small-town atmosphere.

2. Coeur d’Alene, ID - lakefront community of 40,000 in the northern panhandle of Idaho. Two prime ski resorts are located nearby. One of the most expensive homes, a $27.5 million estate on 15 acres that includes a helipad, par-3 golf hole and indoor and outdoor tennis. In addition to stunning views and magnificent limestone and sandstone formations, the region has one of the top golf courses in Arizona; and Lake Powell draws boaters from all over the Southwest.

3. Amangiri, UT  which is slated to open this fall. Sited on 600 secluded acres in a private canyon about 15 minutes from Lake Powell, Amangiri is ideal for those seeking the utmost privacy. Adjacent to the Amangiri, there will be 31 villas on 1.3- to 10-acre sites, each in its own private canyon, priced at $8 million and up.

Outside the U.S.

A return to the tried and true with traditional luxury locations such as Portofino, Tuscany and the Cote d’Azure remaining prime holiday-home territory.

Still, the international scene is increasingly diverse with fledgling upscale resort markets forming all over the globe. One of the strongest but lesser-known luxury locations is the Okanagan Valley in British Columbia, about four hours inland from Vancouver. Mild winters, a 72-mile-long lake that doesn’t freeze over and two ski resorts within a hour’s drive have fostered a huge second-home and retirement market for Canadians, Europeans and Americans.

1. Recently, Brazil ousted Australia for the 10th place on the list of countries with the largest population of high-net-worth individuals, according to the World Wealth Report compiled by Merrill Lynch Global Wealth Management and Capgemini Group.
2. Buenos Aires is fast becoming the place to visit is South America.
3. In Argentina, Patagonia traditionally has been a resort destination
4. Punta del Este in Uruguay is often compared to St.Tropez.
5. South Africa is popular for international investors due to its beautiful scenery, cost of living and reasonable property values. Camps Bay popular for international investors due to its beautiful scenery, cost of living and reasonable property values.

  Considering a luxury property outside the U.S.?

Tom is a Certified International Property Specialist and Linda has her Transnational Referral Certification. Together they work with other TRC agents from 28 countries which meet the strict code of ethics.

 

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