Philippa Kaur

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    How a Man-Made Lake in Alabama Became a Hotspot for Luxury Homebuyers

    When dreaming of owning a waterfront home or weekend getaway, it’s typically the West Coast and the Eastern Seaboard that come to mind. But it turns out there’s a new shoreline that homebuyers are flocking to, and it’s in Alabama.  

    Lake Martin, a 40,000-acre man-made body of water about an hour’s drive east of Montgomery, has long generated interest from high-net-worth buyers. However, over the last handful of years, the quaint towns and planned developments surrounding the lake have seen an influx of out-of-town buyers swooping in to scoop up what’s now considered some of the most sought-after real estate on the Gulf Coast, The Wall Street Journal reported.

    Steve Arnberg, vice president of real estate sales at Russell Lands, reported a significant increase in home prices in just the last five years. Specifically in Alexander City, Dadeville, and Tallassee, in addition to residential neighborhoods like The Ridge, Willow Point, The Heritage, and StillWaters. A new Russell Lands development dubbed Wicker Point Golf Club is set to open in September, with lots seeing bids in excess of $1 million. 

    In July, the annual average sales price for a single-family home clocked in at roughly $1.3 million. To put things into perspective, that’s around a 95 percent spike from just four years prior, when residences along Lake Martin’s 800-mile shoreline were going for $668,000. 

    Among the area’s recent buyers is Bruce Pearl, head coach of Auburn University’s men’s basketball team, who picked up a property in an upscale resort-style development known as The Ridge in 2019. Pearl shelled out a cool $900,000 for his waterfront lot and estimated he put in about $3 million into building his 8,000-square-foot lakeside mansion. “There’s just no way you’d expect, in the middle of Alabama, to have this amazing lake, these incredible golf courses, and these multimillion-dollar homes,” Pearl told the WSJ.

    One of the most expensive pads currently on the Lake Martin market, listed for just shy of $6 million, is a six-bedroom, seven-bath home in Alexander City. Built in 2016, the home sits on over an acre of land in the North Ridge neighborhood and comes with a pier that juts out into the lake, a boat slip and lift, and a three-car garage. You’ll also find a massive outdoor pavilion with a kitchen, a state-of-the-art wine cellar, and three fireplaces.  

    “You just can’t help but enjoy yourself here,” remarked Robert Cobb, a member of the Willow Point community. “It’s so peaceful and serene.” For vacationers who want to make Lake Martin their next home away from home, its central location provides access to many of the area’s popular attractions. Come summertime, jet skiing, cliff jumping, horseback riding, and pulling off at dock-and-dine restaurants are a few ways residents like to spend their days.  More

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    This Modern Villa on a Private Island in Fiji Runs $7,800 Per Night

    The hardest part of planning a vacation can be deciding where to stay. But when you’ve rented your own full-service villa in the South Pacific, all you need to choose is who you’re gonna bring. 

    Reef House, on privately owned Vomo Island in Fiji, is available to rent out for up to 10 of your closest friends and fam. The secluded pad, which sits on roughly 330 feet of powdery beachfront, has five bedrooms and just about every creature comfort you can imagine, from an 80-foot infinity pool to a personal butler.  

    The Reef House on Fiji’s Vomo Island is available for rent for up to 10 people.

    Mark Snyder/VOMO Island Fiji

    Overlooking the Yasawa Islands, Vomo Island has just 34 residences spread across its 225 acres. Reef House just so happens to be the biggest and the newest. For $7,862 a night, you and your guests will have all your meals and non-alcoholic bevvies covered, plus complimentary Wi-Fi and laundry service, access to non-motorized water sports, and use of the island resort’s tennis court, gym, and golf course. Did we mention the property is only accessible via helicopter or seaplane? 

    The five-bedroom home is the biggest residence on the resort.

    Mark Snyder/VOMO Island Fiji

    Nestled on just shy of two acres and designed by Mark Richi, managing director of the award-winning firm Architecture Building Culture, the home has a contemporary vibe to it. Internally, the abode feels casual and serene thanks to an abundance of neutral tones and natural materials, like the off-white limestone that was imported from Portugal. There’s also blonde Victorian ash wood paneling, and off-white painted plaster walls. Dark-tinted windows help mitigate the sun’s heat and glare.  

    The heart of the dwelling comprises one long, low-slung structure that houses the living room, dining area, and open-plan kitchen. Full-height glass walls in the living room and dining spaces slide open to a spacious loggia, creating a continuous space that serves as a single alfresco poolside hangout.

    The primary suite has its own wing with an outdoor terrace and hot tub.

    Mark Snyder/VOMO Island Fiji

    At one end of the great room, you’ll find two pavilions that hold four suites, each with separate entries, ensuite bathrooms, and walk-in closets. And over on the eastern side, the primary suite is a free-standing pavilion complete with an ensuite bath and an outdoor lounge. Another of the estate’s more notable features is the hot tub, which is equipped with a system that makes the water cooler if it’s too sweltering to soak comfortably.

    If and when you do decide to rejoin the group, kick back on any of the many sundecks or take a dip in the charcoal-tiled pool.  

    Click here to see all the photos of the Reef House.  

    Mark Snyder/VOMO Island Fiji More

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    Forget Florida. Retirees Are Moving Overseas and Settling Down in Dubai.

    When many people in the U.S. think of retirement, they often imagine the wide beaches and crystalline waters of Florida. However, more and more retirees are being lured by more far-flung locales, such as the ritzy city of Dubai.

    The UAE metropolis has had a surge in pensioners looking to relocate abroad, and for some pretty compelling reasons, too. Aside from year-round sunshine, the gleaming urban desert paradise is known for its dazzling skyline, beautiful beaches, internationally acclaimed golf courses, and bustling arts and culture scene. Another chief attraction is the country’s citizenship programs, which make securing long-term residency available through investing in real estate.  

    “Although Dubai is not a typical retirement destination like Greece and Spain, we are seeing an increasing number of retirees settling in Dubai,” Maximilian Stamm, head of Engel & Völkers Private Office EMEA, tells Mansion Global. “Recent changes in government regulations have enabled residents to secure long-term golden visas and residencies, making it easier for retirees to stay in the city.” 

    Full-time and part-time retirees have a variety of housing options, from amenity-rich high-rise condos to swanky beachfront villas and epic mega-mansions. Prices range from $800,000 to more than $10 million, depending on the home’s size and the neighborhood. “Retirees seeking opulent living experiences usually live in Palm Jumeirah, Jumeirah Golf Estates, Dubai Marina, Dubai Hills Estates, and Downtown Dubai,” Stamm adds. “These locations offer breathtaking views, accessibility to world-class amenities, and various leisure activities.” 

    More retirees are moving overseas and buying property in Dubai.

    David Cannon/Getty Images

    According to Honey Deylami, executive partner at Luxhabitat Sotheby’s International Realty in Dubai, branded residences are especially popular among retirees because of their five-star hotel-like offerings. Think on-site wellness facilities, Olympic-sized swimming pools, tennis courts, and lavish spas. Recently, a not-yet-built penthouse sold for a record-breaking $115 million. The unit is located within the Jumeirah Marsa Al Arab resort, which will feature a 387-room hotel, 82 residences, and a superyacht marina when it’s complete. 

    For active types, the Arabian city has no shortage of recreational options, including horseback riding, golf, indoor skiing, padel tennis, and kayaking. And if your goal is to simply relax and enjoy your golden years, you’ve got one of the world’s most glamorous cities at your fingertips. “From swanky rooftop bars to trendy Michelin-starred restaurants, the city truly offers a vibrant social scene that caters to all tastes,” notes Stamm.   More

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    Forget Vacation Homes. These Luxe Alternatives Give You Second—or Third—Residences Without All the Paperwork

    If you’ve been looking to buy a vacation home in the past decade, it may have crossed your mind that a fractional or club-based alternative might be a viable and attractive alternative option. Proponents suggest it offers the ideal compromise: all the upside of having a second or third home, with none of the admin or paperwork to keep it operational. But the various approaches can be confusing, and it seems almost deliberately muddled, with overlapping terminology and complementary, yet distinct, business models. So here, a pithy primer for anyone considering a part-time home away from home. 

    Residence Clubs

    Timbers Resorts

    The earliest incarnation of luxury fractional residences was this model, which derives from the time-share concept. Think of it more like a plug-and-play second home for your annual vacation. Typically, a residence-club developer will build several properties in a desirable, well-known location—Hawaii, perhaps, or Tuscany—bundling ample services and amenities alongside the units. It will then sell the right to stay there for several weeks per year to multiple shared owners, who each receive a deeded interest in that specific unit. Some schemes allow you to trade those weeks with other owners, but you’ll usually return to the same property repeatedly. 

    Key Players: Timbers Resorts, Pacaso Best For: Traditional second homers 

    Destination Clubs

    Inspirato

    The destination club emerged a decade or so ago and could be thought of as the more youthful sibling of the residence-club model. “Younger consumers are less motivated by owning than by flexibility, variety, and different experiences, so some are deciding that owning something in perpetuity doesn’t always make a lot of sense,” says Richard Ragatz, president of Ragatz Associates, a consulting firm in the resort real-estate industry. Rather than locking owners in with an equity stake, these operate more like passport-powered country clubs with an initiation fee and annual dues; there might be occasional surcharges for particular overnights, too. “You have no equity, but you have access to great vacation homes as well as access to hotels or trips like Antarctica or a safari,” says Nick Copley, a shared-ownership expert who runs SherpaReport. “Whatever the annual spend, though, it’s a sunk cost with no equity accruing year on year.” 

    Key Players: Inspirato, Exclusive ResortsBest For: Adventure-minded younger families 

    Equity Clubs

    Equity Residences

    This investment-minded alternative acts as the vacation world’s answer to a real-estate investment trust. An operator will create a fund, much like a VC, and offer individuals the chance to invest, say, $300,000 for one share. The fund will use those monies to buy up to 15 properties, all of them wholly owned and operated by a management company; each share confers the right to stay for three weeks per year at any of the locations. At the end of an agreed period, perhaps a decade, the fund will begin to sell its homes and divide the spoils among its investors. “There should be a financial return if the managers have done a good job, though I haven’t seen hard numbers on ROI,” says Copley. “They take on board investor feedback. But make sure, if it’s an up-and-running fund, that where they said they intend to buy jells with where you want to travel.” 

    Key Players: Equity Residences, Equity Estates Best For: Real-estate speculators with wanderlust 

    Other Options

    21-5

    Keep an eye on another approach that takes the equity club even further, reshaping it more in the image of a Manhattan co-op. With the rather literal approach of 21-5, a Danish company, 21 families pool their resources to buy five places in different destinations—an Alpine ski lodge, perhaps, or a beachfront villa in Greece—and make equal investments; each family is able to spend 12 weeks per year total at these homes. They have control over the investment and can collectively decide when to liquidate a property and replace it with a new home elsewhere. It has successfully operated in Europe since 2011, with more than 1,200 families participating. The recently launched GoForth, founded by a veteran of the equity-club space, Adam Capes, hopes to popularize the idea among Americans using a similar model. 

    Key Players: 21-5, GoForthBest For: Hands-on homeowners keen on complete control  More

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    Luxury Homebuyers Are Turning the Historic Properties of Puglia Into Modern Mansions

    While fans of The White Lotus continue to flock to Sicily for a set-jetting adventure, wealthy homebuyers have a different region of southern Italy on the brain: Puglia.  

    For those who haven’t been to the heel of the boot, the area is most famous for its traditional stone huts known as trulli, which are strewn across hilltop villages. Elsewhere, rustic, fortified farms called masserias dot the countryside. Today, both types of historic structures are being scooped up by a new crop of luxury property shoppers and reimagined as upscale residences with modern amenities, The Wall Street Journal reported.  

    With demand, however, comes rising prices. Currently, the median price per square foot in Puglia is about $121. In Valle d’Itria, where hotel rates can reach $26,585 a night during peak season, home prices have jumped 9.2 percent within the past year. Currently, a masseria that was overhauled by a famous Italian actor is on the market for $1.72 million. Meanwhile, two brothers from the Bay Area shared with the WSJ their plans for a two-acre compound. The pair, along with their partners, purchased the 3,000-square-foot home last year for $355,000 and estimate they’ll shell out around $320,000 in renovations between the four of them.  

    Wealthy homebuyers in Italy are reimagining stone huts and fortified farms into luxury residences.

    Michele Bella/REDA&CO/Universal Images Group via Getty Images

    Similarly, Paolo Colombo, an architect from Switzerland, doubled down on two hilltop trullis and purchased them for a combined $1.94 million. Afterward, he spent $2.16 million on a full-scale makeover and plans to add a yoga studio and outdoor sleeping areas. Did we mention Helen Mirren also owns property here?  

    Over in Salento, a 6,500-square-foot masseria was the most expensive sale of 2022, fetching a cool $3.7 million. If a 12-bed, revamped castle happens to be at the top of your bucket list, you can nab one close by for $3.56 million. Ellen Bonaventura, a retired New York attorney, added a rundown Salento palazzo to her real estate portfolio almost a decade ago. Since moving to Puglia, she recalls dropping nearly $500,000 on real estate, an additional $3.22 million on remodeling fees, plus $537,000 on local furnishings, antiques, and artwork. “It was always my dream to have a house in Italy,” she told the WSJ.  

    Part of the draw is that Puglia has become increasingly easier to get to, reachable either by high-speed train or two different international airports. Of course, another benefit is living in a literal European paradise.    More

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    Nobu Residences Los Cabos in Photos

    <!– <!– _ _ _ ____ _ _____ _ ___ | | (_) | _____ / ___|___ __| | ___ | ____| |__|__ | | | | |/ / _ | | / _ / _` |/ _ | _| | '_ / / | |___| | Nobu Residences Los Cabos in Photos – Robb […] More

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    First Look: Inside the Luxurious Nobu Residences in Los Cabos

    Nobu Hotel Los Cabos is about to feel a lot more like home. The Baja California Sur resort has officially unveiled the design of its private residences—and we got a sneak peek inside.  

    The veteran hospitality brand’s Mexico outpost has added an additional 60 residential-style accommodations to its swanky 200-room property, ranging from one to four-bedroom suites that all live up to Nobu’s contemporary, Japanese aesthetic. The luxurious new units act as an extension of the hotel—meaning, they’re only available for guest bookings, not for lease or to buy like traditional residential concepts.  

    “Our goal when creating Nobu Residences was to give guests a sanctuary that they can call home in Los Cabos,” says Richard Sorensen, general manager at Nobu Hotel Los Cabos, in a press statement. “With amplified luxury amenities unique to the residences such as private pools, home gyms, barbecues, and more, new doors are opened to experience the Nobu lifestyle on a personal level, whether it’s hosting private dinners and events, or just spending quality time with family.”

    An inside look at the new Nobu Residences Los Cabos

    Nobu Residences Los Cabos

    From the moment you arrive, you’ll be treated to a private VIP check-in experience and an epic array of exclusive amenities. The latter runs the gamut from your own fitness room and massage suite to a 24-hour personal concierge and an au pair room. If you don’t feel like hitting up any of the hotel’s world-famous restaurants one evening, you can opt for an in-residence meal prepared by a private chef.  

    Each of the 60 residences is minimalist in its design and pays homage to the Baja area with handcrafted decor by local artisans. A fully functioning kitchen, a terrace deck, and a deep soaking tub in the bathroom all come standard with the suites. In the one-bedroom Hikari category, there are either garden or golf course views, a living room, and a dining area spread across its 1,046 square feet. Elsewhere, the 2,051-square-foot Asahi accommodation offers up the same, apart from its two beds and a terrace with a barbecue.  

    Each of the 60 suites comes with an outdoor terrace deck

    Nobu Residences Los Cabos

    The larger Sakyü suite, meanwhile, measures 4,483 square feet and is decked out with one king bed and two doubles. Here, you’ll have a garden view with the added bonus of a private plunge pool. The largest residence is the four-bedroom Kogane Penthouse, spanning 6,141 square feet with either golf course or partial ocean vistas. Naturally, no matter which residence you choose, you’ll have access to all of the hotel’s facilities. There’s a 13,691-square-foot spa and wellness center, four swimming pools, and chef Nobu Matsuhisa–approved fine-dining venues.  

    Starting rates for Nobu Residences Los Cabos begin at $1,600 per night. 

    Click here to check out all the photos. 

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    Americans Are Flocking to Italian Wine Country to Buy Their Second Homes

    Having a second home sounds nice. Having a second home in one of Italy’s famed wine regions sounds even nicer.

    Many Americans would seem to agree with that statement. Those looking to buy second homes are flocking to Piedmont, the home of Barolo, according to The Wall Street Journal. Diletta Giorgolo Spinola, the head of residential sales at Italy Sotheby’s International Realty, estimates that the number of Americans asking about the area had jumped about 50 percent at her agency over the past two years alone.

    Along with its reputation in the wine world, Piedmont was instrumental in the creation of the slow-food movement, and it’s a major area for the hunting and buying of white truffles. That makes it an especially appealing area to buyers with a strong interest in food and drink.

    Some are even intrigued by the idea of having their own vineyard. Luca Stroppiana of Langhe Real Estate told the WSJ that vineyards are the new must-have for second-home buyers. He helped facilitate the sale of a $510,000 farmhouse with one to an American couple mainly living in Milan. “We like to drink wine,” said Bryony Bechtold, who bought the property with her husband. “And now we will learn all about the different grapes and how making wine works.”

    At Langhe Property, Americans are actually the No. 1 demographic, beating out the British. And an architect in the area told The Wall Street Journal that Americans are now the majority of her foreign customers. It doesn’t hurt that the US dollar is quite strong, and that the pandemic has allowed for flexibility as to where people can live and work.

    While enjoying the Italian countryside for a few weeks or months at a time does sound great, the Journal didn’t note how locals feel about the influx of out-of-towners. That’s been an issue in other international locales, like Mexico City, where residents became fed up with American tourists and remote workers earlier this year.

    Still, the possibility of animus isn’t turning off the Piedmont-curious. A couple from Kansas who have been visiting Italy for 50 years are gearing up to move the region next year—and even more home buyers seem likely to join them. More