Thanks to a stable global economy and low interest rates, the luxury real estate market continued to soar in the past year. In August 2017, a 42+ acre estate in the Hamptons listed for $175 million, making it the most expensive property on the market in the state of New York. That whopping amount was dwarfed by a 10.3-acre estate in Bel Air, Calif. that listed the same month for $350 million. The sum will soon be overshadowed yet again: developer Nile Niami’s newly constructed 4+ acre Bel Air estate is on track to be unveiled this year for half a billion dollars.
As for what high net worth buyers are looking for, Scott Durkin, president and COO of Douglas Elliman, says wellness amenities and walkability are top considerations. “We are seeing more and more interest in wellness, and this means more than just a home gym,” he notes. “Today’s buyer is very interested in air and water quality, regulated light, and noise mitigation. [And] a growing number of Americans want the convenience of easy access to shops, restaurants, and local services.” From a striking Swiss castle to a sleek Malibu oasis, the following properties prove the luxury market continues to soar.