Old favourites still have appeal for wealthy expats
A new report released by Savills World Research shows that Côte d’Azur, St Barts and St Moritz still hold their appeal for the wealthy when they consider buying a second home, alongside Monaco and Aspen. The report focuses on the global luxury leisure market and pinpoints the exclusive hot spots where ultra-high-net-worth individuals (UHNWIs) are buying additional homes around the world.
According to the Candy GPS Autumn Report the Côte d’Azur is the ultimate destination, being the most expensive for a typical five-bedroom property (around £18 million). The Côte d’Azur still holds its appeal as a firm favourite because of the warm climate, easy access to Nice and Monaco and exclusivity.
Away from the sunny hotspots, the skiing pistes of Courcheval in France are still popular with British buyers, alongside the Swiss Alps, which have also recently seen a spike in investment from Asian visitors. Yolande Barnes, director at Savills World Research, said: “Ultimately, it is the combination of global wealth creation and fashion that will determine the next playgrounds of the rich and famous. It will be interesting to see whether Asian buyers start to adopt the European and North American preferences for sun, sport and skiing or whether they will continue to cling to more urban centres for rest and recreation.”
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