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The HOTTEST Luxury Vacation & Second Home Markets
February 24, 2010
New luxury second homes markets in demand include Malta, Costa Rica, Florence Italy, Mallorca Spain, and Punta del Estate Uruguay.
With the current global financial instability, many wealthy individuals are choosing to diversify their real estate holdings. This often means purchasing and investing in various types of properties that can include private villas, luxury hotel-condo resorts and fractional properties. Here are a few upcoming markets to watch. Costa Rica is beginning to develop a strong luxury market. The Santosha Estates is a new, ultra exclusive “ecological reserve” community in Costa Rica. An early VIP list is available with prices from $5M to $10 Million. Malta has been one of Europe’s best kept secret for many years. Located in the Mediterranean just south of Sicily, this island nation offers a great Monaco alternative, as well as historical antiquities & culture, favorable tax regulations and is primarily English speaking. In Florence, Italy, the extraordinary 15th Century Grand Palazzo Tornabuoni offers dramatic views of the famous Duomo at a fractional price. In addition to owning a piece of history, this grand Italian palace is also managed by Four Seasons Hotels. Spain’s recent falling prices are making hot spots like Marbella, Mallorca & Ibiza more affordable again. Punta Del Estate in Uruguay (South America) is a fabulous alternative when you want Summer weather in the middle of December. The jet-set resort offers fabulous beaches, pristine country resorts, high fashion boutiques, world class entertainment and casinos. Punta Del Este’s airport, which can accommodate all sizes of private jets, makes this a very accessible South American jewel. For more information, contact Greg Moesser at 310-770-9014..
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