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    Second Homes Will Continue to Draw Luxury Buyers Around the World in 2024

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    When the pandemic drove up housing prices and mortgage rates, many wealthy Americans jumped on the opportunity to acquire investment properties in less pricey foreign countries and, in some cases, to pack up and move overseas. While we’re only a few weeks into the new year, it appears that the uptick in affluent U.S. citizens heading abroad is continuing full steam ahead.

    According to the 2024 Trend Report, published by the Coldwell Banker Global Luxury program, nearly 40 percent of the survey participants intend on purchasing a home in a foreign country within the next year, and two-thirds said they plan on buying property abroad within the next five years.

    “If lower mortgage rate trends combined with the new inventory momentum continue, luxury homebuyers could be inspired to move forward with their next home purchase,” Michael Altneu, vice president of Coldwell Banker Global Luxury, said in the report. Altneu added that shoppers are prioritizing “new amenities” and are open to exploring “overseas options for their next property.”

    The report also found that location ranks as the top consideration among 45 percent of discerning consumers. About 29 percent of high-net-worth consumers are looking to move to Europe, while 28 percent are eyeing destinations in North America outside of the U.S., and 23 percent are considering the Caribbean.

    High-net-worth home buyers are looking to relocate to Europe and the Caribbean, according to a new report.

    Pexels

    On the flip side, the U.S. will continue to be a place of interest for deep-pocketed international buyers in 2024. Per the Coldwell Banker Trend Report, there was a 25 percent increase in the number of well-heeled foreign buyers purchasing real estate in the top 5 percent of the market in 2023. More specifically, those shoppers are looking to purchase property in bustling metros such as New York, Los Angeles, San Francisco, Miami, and Washington, D.C.

    “We are seeing money from China, Singapore, Hong Kong, and the Middle East being ‘parked’ in real estate in California as a holding place for wealth,” said Paul Lester of The Agency Beverly Hills in the firm’s annual Red Paper Wealth Report.

    “Instability in various South American countries continues to make Miami real estate very attractive,” noted Daniel Tzinker of The Agency Miami. “In the past three years, we’ve seen 100+ businesses like Citadel, Amazon, and Tesla move to Miami, taking advantage of the favorable tax environment…world-class restaurants, private clubs, and art galleries have followed.” 

    Authors

    Abby Montanez

    Abigail Montanez is a staff writer at Robb Report. She has worked in both print and digital publishing for over half a decade, covering everything from real estate, dining, travel and topics…

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      in Vacation Homes

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      Published on January 11, 2024

      J. Christie & Vladi Private Islands

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      Abby Montanez

      Abigail Montanez is a staff writer at Robb Report. She has worked in both print and digital publishing for over half a decade, covering everything from real estate, dining, travel and topics…

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      in Vacation Homes

      First Look Inside Vie L’Ven, St. Maarten’s New Luxury Resort and Residences

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      Vie L’Ven, a forthcoming resort and residential property from Altree Developments, is bringing a new level of luxury to the Dutch side of the Caribbean island of St. Maarten.

      The project is slated to make its debut in 2028, and Robb Report got an exclusive first look at the renderings. The development—the name translates to “life to live”—will feature a hotel component alongside a collection of fully furnished homes ranging from $800,000 to over $2 million. Altogether, the Cay Bay project will comprise a total of 280 units with 190 hotel rooms, 60 of which will be suites, and 90 private residences.

      The open-air lobby entrance at Vie L’Ven, a forthcoming luxury residence in St. Maarten.

      Binyan

      “Vie L’Ven stands as a unique and unparalleled project in St. Maarten, distinguished by its singular luxury experience,” Zev Mandelbaum, CEO of Altree Developments, tells Robb Report. “With only one other five-star hotel catering to a similar clientele, Vie L’Ven’s presence fills a crucial gap, providing an exclusive destination that will undoubtedly be in high demand. The extensive amenities that will be offered at Vie L’Ven set it apart, establishing a standard of luxury unmatched anywhere else on the island.” 

      The property will feature a five-star hotel and a selection of private homes for purchase.

      Binyan

      Drawing upon both French and Dutch cultures for inspiration, the oceanfront building will be designed by award-winning architectural firm HKS with interiors by Toronto’s Studio Munge. In addition, the developer tapped Sotheby’s International Realty to handle all the sales and marketing. The homes on offer will be available in several different layouts, ranging from one-, two-, and three-bedroom residences that measure from 600 to 6,000 square feet. Owners will also have the option of entering their home into the resort’s rental program for short- or long-term stays.

      Naturally, residents will have access to all the hotel’s facilities, including its three swimming pools, signature restaurants, and 24/7 concierge services. The grounds will also sport a world-class fitness center and spa and can be reached via boat.

      An aerial view of the resort’s massive beachside swimming pool.

      BInyan

      “St. Maarten is a captivating island that seamlessly melds the cultural influences of both the French and Dutch, cultivating a distinctive European ambiance in the heart of the Caribbean,” adds Mandelbaum. “Embraced by natural beauty and tranquility, the island beckons with a plethora of attractions, from exhilarating nightlife to the allure of mega yachts. For those seeking a perfect blend of excitement and relaxation, St. Maarten promises a tapestry of unique experiences.”   More

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      in Vacation Homes

      From Mexico to Sardinia: Here Are the Most Expensive Airbnb Beachfront Rentals Around the World

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      Nothing says vacation like a trip to the beach. But how much would you splash out for a totally over-the-top rental? 

      For those yearning for a luxury weekend by the sea, a new study combed through the most expensive beachfront Airbnb listings in every country and came up with a ranking of the world’s top 10 priciest vacation properties. To put things into perspective, the report found that the average Airbnb rental goes for $137 per night. Naturally, the nightly rate for a billionaire-style villa on the beach is going to cost way more. Let’s get into it.  

      The most expensive beachfront Airbnb is an $18,000-per-night private island in the Bahamas.

      Courtesy of Airbnb

      There are two properties that rank as the most expensive Airbnbs on the planet. For an eye-watering $18,000 a night, you can book a stay at Middle Cay, an idyllic private island in the Bahamas, or live it up at Casa del Oso, a 10-bedroom waterfront mansion in Punta Mita, Mexico.

      In the third spot is Villa Harrah in Glenbrook, Nevada, which ranks as the most expensive rental in the United States. The 20,000-square-foot Lake Tahoe chalet, originally built in 1963 by casino operator William F. Harrah, runs a cool $17,000 per night. In comparison, the next most expensive vacation rental in the U.S. is the $11,000 per night Villa Salt Acres in Stonington, Connecticut, which includes 2,000 feet of pristine coastline with 400 feet of private beach, along with a boat dock, a tennis court, a movie theater, and a wine cellar.  

      Villa Harrah on Lake Tahoe is the priciest beachfront vacation rental in the United States.

      Courtesy of Airbnb

      Coming in at the fourth spot is Mansion Villa at Daios, a sea-facing retreat in Crete. The $16,995-per-night residence on Daios Cove, the most expensive Airbnb in Europe, offers panoramic ocean views, an infinity pool, a sprawling stone terrace, and an indoor spa area that’s replete with a sauna, a massage room, and a gym.

      If you’ve got $16,311 to burn, you can enjoy a stay at Finca J in the medieval Spanish village of Begur, and for $15,000, you can book a stay for up to 24 guests at Villa Punta Aguila inside the swanky Casa de Campo Resort in the Dominican Republic.  

      CieloMar in Costa Rica ranks seventh on the list and goes for $13,265 per night; the villa can accommodate up to 12 guests in six bedrooms. The home is shaped like the bow of a ship and comprises every enviable amenity imaginable, from a volcanic stone-lined infinity pool to a wet bar and a Zen garden.  

      Rounding out the top 10 are Crystal Springs, a $12,500-per-night beachfront compound in Barbados that provides a staggering 12,000 square feet across six buildings serviced by a staff of 14; the $12,000-per-night Pearns Bay House in Antigua, which can accommodate up to a dozen guests; and, for $11,946 per night, there’s Villa Hortensia on the coast of Sardinia. More

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      in Luxury

      Buy Hard: This $37.5 Million Turks and Caicos Estate Was Once Owned by Bruce Willis

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      Die-hard fans of Bruce Willis now have a chance to live like the legendary American actor. A sprawling Caribbean compound formerly owned by Willis himself has just hit the market for $37.5 million.

      The property in question, known simply as the Residence, is nestled amid the exclusive Turks and Caicos archipelago on the picturesque private island of Parrot Cay. The eight-acre plot was first purchased by the 66-year-old leading man—known for films such as Die Hard, Pulp Fiction and The Sixth Sense, to name but a few—back in 2000, after which he spent the next four years building his dream home on the secluded, sunset-facing bay.

      Fit for an A-Lister, the beachfront estate comprises three stately hardwood-clad homes that collectively offer a total of 35,000 square feet of living space, along with 12 bedrooms and 14 bathrooms. The six-bedroom main house, which was treated to a full re-design in 2020, is geared toward entertaining family and friends. The entire upper level has been transformed into a “children’s dream space,” while the main level comes fitted with a lavish lounge and an epic cinema to catch up on Willis’s latest flicks.

      The beachfront property comes with three separate houses and four pools. 

      Provo Pictures for Turks & Caicos Sotheby’s International Realty

      To the north of the main house, there is a villa dedicated to the luxurious primary suite and a separate guest villa to accommodate fellow stars. Both villas are set a good distance from the main house and come with their own large pool. Speaking of pools, the property has four in total, as well as 1,100 feet of immaculate beach.
      Elsewhere outdoors, there is 18,000 square feet of decking for alfresco entertaining, along with a yoga pavilion and a children’s playground that boasts its own full-size wooden pirate ship.

      The main home offers six bedrooms and plenty of space for entertaining. 

      Provo Pictures for Turks & Caicos Sotheby’s International Realty

      The estate itself is part of the ritzy COMO Parrot Cay resort, which is owned by Singaporean hotelier Christina Ong. As such, it is serviced by a dedicated staff and supplemented by COMO management. If the property is sold at the asking price, it will set a record for the island nation and result in a nice profit for the current owners (the billionaire founders of Goosehead Insurance), who bought the place from Willis for $27 million back in 2019.
      “The property elicits beachfront fun, precious family time and restoration amidst a pristine white sandy bay and lush green gardens that make up this exceptional compound,” listing agent Nina Siegenthaler of Turks and Caicos Sotheby’s International Realty told Robb Report.

      Not to mention, it was built by the one and only John McClane.
      Check out more photos below:

      Provo Pictures for Turks & Caicos Sotheby’s International Realty

      Provo Pictures for Turks & Caicos Sotheby’s International Realty

      Provo Pictures for Turks & Caicos Sotheby’s International Realty

      Provo Pictures for Turks & Caicos Sotheby’s International Realty

      Provo Pictures for Turks & Caicos Sotheby’s International Realty

      Provo Pictures for Turks & Caicos Sotheby’s International Realty

      Provo Pictures for Turks & Caicos Sotheby’s International Realty

      Provo Pictures for Turks & Caicos Sotheby’s International Realty

      Provo Pictures for Turks & Caicos Sotheby’s International Realty

      Provo Pictures for Turks & Caicos Sotheby’s International Realty More