Monaco Real Estate | Market Spotlight

Monaco_Market Spotlight

Price Upon Request | Monte Carlo, Monaco | Sotheby’s International Realty France Monaco

“There are few real estate markets in the world that can compare to Monaco in terms of glamour, price and quality of life,” says Alexander Kraft, , chairman & chief executive officer, Sotheby’s International Realty France – Monaco

“The casino of Monte Carlo, its annual Formula 1 Grand Prix, the world´s biggest mega-yachts, Grace Kelly and Monaco’s unique tax advantages (no taxes whatsoever for residents) are legendary. Add to that its enchanting location on the French Riviera, year-round sunshine, virtually no crime and some of the world’s best shops, hotels and restaurants, and the mixture becomes truly unique. Not surprisingly, Monaco has attracted the rich and beautiful for more than a century; in combination with very limited housing supply (the entire country’s size is less than two square miles), this has created some the world’s highest real estate prices. Following a slower period from 2011 – 2012, the year 2013 saw a renewed influx of ultra-high net-worth individuals taking up residence in Monaco and thus revitalizing the local real estate market. It is virtually impossible to find anything for under € 20.000/square meters, and prices can exceed € 100.000/square meters for the most sought-after properties near the casino or the beaches. In a world troubled by economic and political unrest, Monaco continues to be a haven of peace for the lucky few.”

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Washington D.C. Real Estate | Market Spotlight

Washington DC_Market Spotlight

$9,800,000 USD | Washington D.C., USA | TTR Sotheby’s International Realty 

“The market in Washington, D.C., has been active and prices are up 10 percent over last year – however we did experience a late start to the season (known as frozenomics),” said Michael Rankin, managing partner, TTR Sotheby’s International Realty.

“As April has turned to May, we see low inventory across multiple price points. This alone has had the biggest impact on the velocity of the market in the Washington, D.C., area. During the first several weeks of April, we have seen significant increases in activity at TTR Sotheby’s International Realty. Despite market trends, year-to-date sales for the firm have increased 25 percent year-to-date versus 2013, and we have continued to set new records, including the $18.6 million sale in March of the historic River View Estate in Alexandria and the Patterson Mansion, listed for $25 million, which will close in May.”

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Long Island, New York Real Estate | Market Spotlight


mansions for sale long island

$11,400,000 USD | Lloyd Harbor, New York | Daniel Gale Sotheby’s International Realty

“On Long Island, the big question continues to be, ‘how’s your market?’ The answer? Very promising,” said Patricia J. Petersen President and chief executive officer at Daniel Gale Sotheby’s International Realty.

“Most economists define a housing recovery as one with continuous price appreciation,” continues Petersen. “Our appreciation is modest in some areas, but certainly not all. Yet the first ten months of 2013 for closed residential transactions in Nassau and Suffolk Counties improved dramatically from 2012 — over 20% (sales volume) on average based on MLS data. Since ‘average’ has never been my goal for our 21 sales offices, we’re up over 35% (sales volume) and have almost 40% more (sales volume) under contract than 2012, when I compare our performance to MLS. Results do count. And I’m raising our ‘bar’ for 2014 too.”

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Living in Park City | Video Market Spotlight

Located in Summit County, just over the mountain from Salt Lake City, and only 35 minutes from the Salt Lake International Airport, Park City is both a tourist destination and a friendly, small town where your neighbors are also your friends. In Park City, you are never far from endless outdoor adventure, extraordinary entertainment, fine dining, quaint shops and galleries, or the breathtaking Wasatch Mountains that form the stunning backdrop of this town for all seasons. No wonder Forbes Traveler Magazine has named Park City one of the “20 prettiest towns in the United States.”

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San Miguel de Allende Real Estate | Market Spotlight


luxury homes for sale san miguel de allende, mexico

$3,900,000 USD | San Miguel De Allende, Mexico | Agave Sotheby’s International Realty

“The Magic of San Miguel de Allende, a colonial city in the heart of Mexico, is no longer a well-kept secret,” says Lisa Carol, Director of Marketing at Agave Sotheby’s International Realty, San Miguel de Allende, Mexico.

“With near perfect weather, stunning architecture, vivid culture and an affordable cost of living, it’s no wonder we’ve become a darling of the international media,” continues Carol. “In the last month alone, we’ve been voted ‘The #1 City in the World’ by Conde Nast Traveler readers, ‘One of the Best Places in the World to Spend Christmas’ by Travel & Leisure, featured on the cover of National Geographic Magazine’s Latin America Edition, as well as being lauded in the Boston Globe, Forbes, The New York Times and the Huffington Post. With more than two thirds of our buyers from the United States and Canada, whether their interest lies in a colonial hacienda, centrally located pied a terre, golf or equestrian property, they have long appreciated what the rest of the world is beginning to discover: that life is better in San Miguel.”

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Tokyo Real Estate | Market Spotlight

tokyo luxury real estate

¥455,000,000 JPY | Tokyo, Japan | List Sotheby’s International Realty

“Since Tokyo was announced to host the 2020 Summer Olympics, the real estate market has been rising in Tokyo, especially in the bay area, where most of the competition venues will be located,” said Yutaka Kobayashi, sales director List Sotheby’s International Realty in Tokyo.

“According to the Japan Association of Real Estate Appraisers, condominium prices in the Tokyo Bay area will increase between 10 to 20 percent in two years’ time,” continues Kobayashi. “The upbeat forecasts come as infrastructure development in the lead up to the Games is expected to boost the convenience of the Bay area, hence increasing property values. Most of the major sports venues are scheduled to be located in or near the Bay area, and the Tokyo metropolitan government plans to spend 400 billion yen. Also, given Japan’s rapidly aging population- people aged 65 or older already account for more than 25 percent- the infrastructure for the Olympic Games is expected to be developed in a manner that is friendly to the elderly. Furthermore, ‘washoku,’ or Japanese food, which is globally popular and well known as healthy food, was registered on UNESCO’s list of intangible cultural heritage assets in December 2013, which would help Japan to attract international interest and raise its profile.”

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Silicon Valley Real Estate | Market Spotlight

silicon valley luxury homes for sale

$14,995,000 USD | Atherton, California | Dreyfus Sotheby’s International Realty

“Our real estate market continues to respond to our strong tech economy and the extraordinary individuals it brings from all over the world,” said Michael Dreyfus, chief executive officer and broker, Dreyfus Sotheby’s International Realty.

“Prices in Palo Alto’s upper end neighborhoods finished the third quarter 60 percent higher than the same quarter median price two years ago, according to MLS data, courtesy of BrokerMetrics. The adjacent towns of Menlo Park and Atherton also continue to show strong upward price movement across all price points. Inventory continues to be extremely low and multiple offers are common in pricepoints under $4 million. Strong demand for land has been a theme of our market as buyers purchase older inventory to tear down and build new. Land sale prices of $300-$450 per square foot have occurred in the better locations and we feel a building boom is about to begin.”

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Vermont Real Estate | Market Spotlight

Mountain House in Stratton, Vermont

$5,275,000 USD | Stratton, Vermont | Vermont Country Properties Sotheby’s International Realty

“We are seeing buyers realize the extraordinary value of luxury properties in Vermont compared to similar properties in the Northeast,” said Lisa Coneeny, president and principal broker, Vermont Country Properties Sotheby’s International Realty . “Vermont is most known for its large ski resorts and other winter recreation, but it also a very a popular four season escape. The majority of homes in the resort towns and surrounding communities are vacation homes to people from Massachusetts, New York, Connecticut and New Jersey and in the northern portion of the state from Canada.”

“Vermont has seen an increase in luxury home sales across the state but mostly around the resort towns including a sale on Stratton Mountain for $3.85 million,” explains Coneeny. “Manchester and Dorset have also seen a number of sales between $1.5 million and $2.5 million. Often these home buyers have multiple homes among which they divide their time. We are also starting to see a trend in people looking for large acreage, farm and timberland and sustainable and green living. We recently had someone from California relocate to Southern Vermont and purchase a 135-acre farm to raise sheep for $1.025 million.”

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