Inside the World’s Most Expensive Luxury Real Estate Properties

This incredible estate in Theoule Sur Mer on the Côte d’Azur in France includes four different residences measuring nearly 100,000 square feet in all, and is listed for sale with Sotheby’s International Realty at over $100 million

As usual, blaring headlines—“Prices soar in Aspen and Martha’s Vineyard as the Affluent Flee Megacities” read one recent entry in Fortune—have only told half the story. Any exodus from any city known for its expensive real estate is usually short-lived. So we went in search of the full picture, courtesy of experts like Natalie Todd, the beautiful resident Malibu real estate specialist with world-class firm Douglas Elliman. 

Estate in Theoule Sur Mer on the Côte d’Azur listed with Sotheby’s International Realty

“When Los Angeles’ shutdown eliminated showings, not to mention entertainment industry jobs that provide sizable incomes to tens of thousands of city residents, the luxury market entered the equivalent of a black hole,” Todd, who frequently deals with celebrity and high-net-worth clients, and multimillion-dollar listings, tells us. Hence the apocalyptic headlines. “During a lockdown, there’s no price discovery, which is why we saw a 43.5% drop in [second quarter] 2019 to [second quarter] 2020 sales, according to the Douglas Elliman market report.” 

Listed at $115 million with Sotheby’s International Realty – Beverly Hills Brokerage, this is one of the most prestigious properties in Malibu, with a 12-bedroom mansion on 2.6 lush oceanfront acres

It turned out to be one of the shortest market dips in recent history however—which has gotten a lot less media attention. When Los Angeles reopened over the summer, “there was a release of pent-up demand, with surprising strength,” Todd reveals. “The city pivoted sharply into luxury, more than any other market. To its proponents, the strength of Los Angeles’ rebound indicates a market that just won’t quit. Over the past five years, Los Angeles and its surrounding areas have become more of an international destination because of the lifestyle they afford clients. Now more than ever, quality of life is very important to people.” 

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The Malibu property listed with Sotheby’s International Realty – Beverly Hills Brokerage

“Home” has become the focal point since the pandemic hit, Todd notes. “While being compelled to work from home has shifted everyone’s priorities, it has also prompted the ultra-wealthy to make massive additions to their existing real estate portfolios in some of the most desirable and exclusive areas of California, especially Malibu…. Ultimate quality of life at every level on the home front has become the new obsession of the top 1%, now more than any other time in recent history.” 

The Malibu property listed with Sotheby’s International Realty – Beverly Hills Brokerage

As a result, “This has been the strongest Malibu market we have seen in quite some time, with an increasing demand for larger properties,” Todd says, including those priced at $50 million and above. This used to be an extremely difficult bracket to get into; and while one still needs at least a nine-figure net worth, the current availability of real estate in this price range means that …read more

Source:: MAXIM – News

      

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