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The world’s most expensive location for prime real estate behind Monaco, Central London has seen luxury home values fall for an eighth month. Such locales include Mayfair, St John’s Wood, Regent’s Park, Kensington, Notting Hill, Chelsea, Knightsbridge, Belgravia and the South Bank neighborhoods of London.

As recently reported by Bloomberg, in November the approximate average value of a house or apartment in the city’s nine most expensive neighborhoods fell 3.6 percent from October, according to an index compiled by Knight Frank. This represents the second largest drop since the index started in 1976. Furthermore, the figures show that property values declined 14 percent since the previous year.

Why is this? Quite simply, vendors are not holding out for emotional prices and are accepting that price reductions have to occur for a sale to be achieved.

Prime Central London real estate has taken longer to register declines seen elsewhere in London because of a standoff between sellers and buyers over price. That ended in September, when the bankruptcy of Lehman Brothers Holdings Inc. caused demand to collapse from those employed in financial services, traditionally the mainstay of demand for expensive homes.

Unsurprisingly, the worst banking crisis seen since the First World War has translated into job cuts and reduced bonuses, and in London it’s likely to get worse before it gets better, with as many as 62,000 finance-related jobs forecast to be lost in London by the end of next year.

Interestingly, the properties least affected by the fall in values are those worth more than five million pounds. With the pound sliding it becomes more attractive to wealthy overseas buyers (yes, they still exist) and given the uniqueness of many of the properties in this category, and how infrequently they come onto the market, they still are highly sought after.

Appreciating that for a buyer with US Dollars, a 15 percent property valuation drop equates to a 35 percent slide when exchange rates are taken into consideration, property in excess of five million pounds is great buying.

Simon Turner

FYI: Read more articles on Luxury Homes; or London; or Credit Crunch

“The Red House Manor”, Quebec, QC, CANADA:Dating from 1608, the stunning and iconic “Old Red Manor” is unequivocally the oldest habitable building on the North American continent.

When Bertrand Chesnay de la Garenne received the Royal Concession in 1652, he found there “a solid ruin with three walls and a large stone fireplace of 5 feet long.” This is the left side of the Manor which contains the master fireplace. In 1764, the French Captain Cazeau added the second level, and the manor remained the property of the Cazeau family until 1940.

Restored in 2005-2006, to the most exacting standards of luxury and caring touch. It is 30 metres in length (96 ft) and 9 metres (30 ft) wide and has two levels, with multiple living, dining and entertaining areas, six generous bedrooms and 4 bathrooms. This property is for sale in two lots.

To view more information, images and the video click HERE.

Contact: Michael Marquette on +61 433 170 170 or via email Michael@marquetteturner.com.au or Christine Watson on +61 414 352 680 or via email Christine@marquetteturner.com.au

FYI: Read related articles on Worldwide Luxury Homes such as Bora Bora, TAHITI; Villas in Tuscany, ITALY; or Raffles in Manila, PHILIPPINES; or AUSTRALIA

When most houses in the UK are losing value one home is actually increasing at an enormous rate. This house is the former home, and indeed the birthplace of soccer mega-star David Beckham, the property which should have a price tag of about £250,000 based on the local Leytonstone, East London market.

The three bedroom house, however, has been listed for sale for a staggering £850,000 and an offer of one million pounds has allegedly already been offered by an Australian collector of Beckham memorabilia.

If every property that Beckham ever lives in should turn to gold, imagine the huge theoretical increase in value to David and Victoria Beckham’s current home on San Ysidro Drive in Beverly Hills California, which they purchased for $18.2 US in 2007. (image courtesy of Microsoft Virtual Earth)


Simon Turner

FYI: Related articles on Homes of the Rich & Famous; or Luxury Homes; or the Housing Markets

We can indeed see Russia from where we are, but no, we’re not in Alaska.

This article is actually absolutely nothing to do with Sarah Palin or the recent US Presidential Campaigning.   Marquette Turner Luxury Homes has the privilege of featuring on the front cover of Russia’s leading Luxury Homes magazine, International Residence.

I briefly studied Russian as a language at university and got to try it out on the locals when serving in the military in Afghanistan and Kyrgyzstan a few years back, however, my translation abilities can’t quite cope with a magazine.

Nonetheless we invite you to visit their website, and indeed browse through the magazine by clicking on the front cover above, or CLICK HERE.

Marquette Turner Luxury Homes is truly establishing itself as THE luxury agency with an International Focus, ably assisted by our colleagues of the Who’s Who in Luxury Real Estate, and we look forward to showcasing some amazing new properties in truly splendid locations in the coming weeks.

Simon Turner

FYI: Read related articles on Luxury Homes; view Marquette Turner’s listings; and Overseas Investments

The City of Sydney and The State of New South Wales are both projected to grow by huge amounts in the coming years. As Australia’s largest state, and indeed the only one in recession, such growth could perhaps be the state’s saving grace and is certainly a rare bit of good news.

  • 63% of NSW residents live in Sydney.
  • By 2056 the population of Sydney is projected to reach 10 million.
  • The NSW population is projected to increase from 6.82 million in 2006 to 8 million in 2022 and 9 million by 2036.
  • By the year 2036, the NSW population will reach 9 million and there will be 3.7 million households.

  • Sydney’s population is projected to increase from 4.248 million in 2006 to 5.98 million by 2036 (up 40%)
  • The number of households in NSW is projected to increase from 2.65 million in 2006 to 3.72 million by 2036 (up 41%)
  • The number of Sydney households will increase from 1.62 million in 2006 to 2.35 million by 2036 (up 46%)
  • The number of lone person households is projected to increase from 646,500 in 2006 to 1.06 million by 2036 (up 64%)

Simon Turner

FYI: Read more of our articles relating to Sydney; New South Wales; and Australia

The news is full of negative stories relating to the increasing cost of borrowing and fears about real estate values, as well as fears of their money being placed in anything other than a “mattress” account!

Therefore, now more than ever it is a home’s “WOW FACTOR” than can lead to a sale, and indeed a great one. Being sought after gives a massive increase to the amount someone will pay.

For instance, a recent London survey estimated that a “WOW” property in London can sell for as much as 10 percent more than a neighboring property in need of renovation.

Given the consumer’s ever increasing interest in Lifestyle magazines, and indeed Hotel designs with their relatively neutral palettes and sensual lights are increasingly being emulated in residential houses.  Two particular features that are often mentioned by potential buyers are:

  • strategically placed lighting, and
  • an abundance of natural light.

London agents report that the larger the price tag, the more immune a property appears to be to the economic downturn, a sentiment that appears to be echoes throughout the globe.

Simon Turner

FYI: Read more articles on Luxury Homes, The World’s Most Expensive Homes, and Interior Design

Donald Trump recently stated that his real estate company will move into South Africa in a joint venture with local businessman Neill Bernstein. The two real estate honchos will work on a variety of properties, including golfing, hotel and residential developments. They have signed a 10 year agreement, and over the next couple of years plan to develop a myriad of new properties for sale.

Bernstein, owner of Devland Holdings, has indicated that there are a number of projects already in the works. He recently took Donald Trump Jr., the eldest son of Trump and the man expected to lead the venture in South Africa, on a tour of potential projects and sites in South Africa.

The Trump Organization, which used to primarily focus its interests in the United States, has expanded overseas in recent years with new developments in Dubai, Panama, and Asia. Simon Turner

More information: Other Trump articles

The United Arab Emirates-based real estate development company, Zaya, has recently been awarded the prestigious title of the Most Luxurious Project in the World for its Nurai Island development.

Awarded on the basis of the project being considered to represent the highest level of quality and luxury the Nurai Island development, which is situated North East of Abu Dhabi, will be a sprawling resort and private community with suites, beachfront estates and water villas. In addition there will be a boutique hotel and spa on a natural island.

Residents of Nurai will have access to all of the services and comforts provided by the boutique resort, such as three world class restaurants and multiple lounges, a private helipad and marina with arrivals lounge, a fully-equipped spa and fitness centre, private beaches and water sports facilities.

Simon Turner

Putting your property on the market poses two very personal concerns:

  1. invasion of privacy: that your personal life will be on show;
  2. theft: your personal effects are prey to any “prospective” buyers

De-clutter your property before placing it on the market for sale: this is my first tip of advice for those vendors concerned with their privacy being publicised to the world.

To some it means removing everything from bench tops, cupboards and shelves and to others it means keeping the home clean, neat and tidy.  But how do you protect your privacy and hide your personals?

Your home generally depicts your personal life, showing your taste in furnishings, colours, art, antiques and family photographs. Is opening your home to the public an invasion of your privacy?  Absolutely!

The experience of Marquette Turner Luxury Homes shows that people buy the home that “ticks most of the boxes”.  When selling your home, you should take the distractions away so the buyer can concentrate solely on looking at your home.

Furthermore, we are not great advocates of open for inspections in a troubled market and it is important to appreciate that household contents insurance does not cover the loss of personal effects during a viewing of a property.  Remove the opportunity for theft and protect yourself as if you were a celebrity like Nicole Kidman, Tom Cruise and Hugh Jackman.

Selling your home can be stressful enough without the concern that someone is taking an interest in your personal life and possessions.

Marquette Turner Luxury Homes we will not allow anyone to view your home without showing their photo identification.  If someone objects they are not respecting your home and are not serious about buying the property. Only a Luxury agency can truly protect your privacy.

Christine Watson

It’s amazing what can change in quick time. The stock market is continuing to fall and the consequences are far from known. It’s difficult to say when it will stop after the Dow Jones suffered its biggest single day loss in history this week. Institutional investors are selling, preferring to hold cash and wait to buy back in at the right time. The big question is “when will be the right time”?

Other investment options will of course be considered and the Australian property market is looking very good. As interest rates decrease and the stability of the property market is considered it is hard not to argue that Australian property will be on the radar of investors both private and institutional domestically and abroad.

With job losses abroad it is highly likely that some Australian expats will be out of work and heading back to Australia to find a new home. With a stable economy, monetary policy looking favourable and investors searching for a safe haven property in Australia is sure to figure well. This will be welcome news for all property owners and is possible due to the health of the domestic financial sector.

View the property’s currently on the market with Marquette Turner Luxury Homes or get in touch with us and inform of us what you’re looking for.

Michael Marquette

The British magazine “Buying Abroad” has chosen to feature a luxury home of Marquette Turner’s on the front cover of their latest issue, as part of their feature on Australian and more specifically Sydney property.

Catering for the legions of British real estate investors that choose to look overseas to make their investment, the magazine showcases the many opportunities throughout the world. In this issue as well as featuring Australia, there are also articles on Spain, Italy, South Africa, Egypt and Switzerland.

With the British real estate market in freefall, and the stock market index looking particularly fragile, for those investors still with money to put into something solid, Australia provides some great opportunities and there is little reason to believe this will change.

For those looking to invest in property in Australia, there are obviously rules and guidelines set by the Foreign Investment Review Board (FIRB). There is also some extremely useful information on our website.

The magazine is available to view online in its entirety as well as in hard copy if you prefer the traditional method.

Coming soon, Marquette Turner Luxury Homes will be featuring in magazines from Russia, Dubai and the United States, as part of our ongoing efforts to showcase luxury Australian properties to the world.

Simon Turner

Today we released our weekly e-magazine featuring the highlight’s of the past week’s blog articles and insights into the week ahead.

It’s been an enormously busy last couple of weeks for the team at Marquette Turner Luxury Homes. I spoke with the Australian Financial Review recently regarding the likelihood of Australian banks passing on any interest rate cuts from the RBA and I have expanded on my comments to them in my “View from the Bridge” blog.  Additionally, As Australia’s premier luxury agency  we have also listed almost $40 million of Luxury property in only the last 7 days, which may be a sign that vendors are deciding to list a little earlier for Spring this year which will give buyers plenty of choice.

Furthermore, we have almost completed upgrading our website and are proud to be one of the first in Australia to offer Google Street View for each of our property listings, as we continue to focus on our client’s evolving needs.

I hope you enjoy this weeks’ E-Magazine and our ever-popular blog .  Michael Marquette

VIEW HERE

SUBSCRIBE

The big question is, if you put money away into a Chrisco account every week, how many Christmas’ would you need to go without a Chrisco hamper before you could afford is founders New Zealand mansion?

The answer is: a lot! With a build-price touted in excess of $30million, what kind of hampers would you have been forgoing anyway?

Richard Bradley, the British founder of Chrisco who moved to New Zealand in 1993 is now one of the country’s wealthiest people, with an estimated fortune of $50million.

His home, set on 24.3 hectares of land north of Auckland, comes complete with lakes, grapes and olive trees, in a true European estate tradition.

Finished in 2006, the property has six bedrooms, a seven-metre tropical fishtank and a 30m lap pool next to the master bathroom.

The grounds include two lifesize sculptures by Geoff Thompson of a mother giraffe and her calf, a tennis court and a koru-shaped maze.

With a heliport making a journey to Auckland airport only 10 minutes chopper-ride away, this home will be perfect for the buyer whom looks for world-class luxury in a peaceful haven.

Simon Turner

More people than ever are choosing to relocate from the UK, with Australia topping the list as the most popular destination.

Australia was the clear favourite in the research compiled by international relocation company Allied Pickfords, with Spain and Cyprus a distant second and third.

Our capitals are the most popular places for immigrants to settle, with Perth, Sydney, Melbourne and Brisbane high on the list.


As recently reported by Marquette Turner, whilst our property market is currently experiencing a somewhat subdued period, it is immigration that, amongst other factors, will help ensure that Australia does not experience a complete property meltdown.

The firm reported that it has recently received a surge of interest in buying Australian property, with ten per cent of all their enquiries relating to relocations down under.

So, immigration is on track to assist Australia’s property market – now we just need inflation, consumer confidence and infrastructure to fall in line, amongst the many factors that go towards making a solid, powerful and confident economy and ensure that Australian’s truly feel their fortune.

For overseas buyers wishing to buy property in Australia, check out the “Overseas Investors” advisory section of the Marquette Turner website.

Simon Turner

Nicole Kidman is selling $24 million of prime Australian real estate as she prepares to set up home in Nashville.

The expectant mother and country-music star husband Keith Urban, are selling her $20 million Sydney villa and a $4 million beachfront retreat on the NSW south coast.

With the properties on the market, there is speculation they will buy a property on Sydney’s North Shore to escape the paparazzi, whilst also being near to her parents’ home and to her sister, Antonia.

The villa at Darling Point was her Sydney home with former husband Tom Cruise. She received it in their divorce settlement.

Kidman has visited her 3000sq m country retreat, 20km south of Batemans Bay, only a handful of times since buying it in 2004.

There is certainly no science in finding an investment property, or none that as yet has been discovered. There are, however, some solid rules of thumb that by checking as many off as possible, you will have a excellent strategy and reduce as many of the risks as possible.

Here are Marquette Turner’s Top 10 Tips.

1. Located in an area where there is a positive population growth.

2. There is an abundance of employment opportunities within the area.

3. There’s enough infrastructure developments (current or planned) to support the needs of the community such as transportation facilities and schools.

4. High rental demand.

5. There is only a limited supply of properties in the area, to ensure that the demand remains strong.

6. The suburb has an evident history of strong capital growth.

7. Purchase a property within the median price range. It will be easier to sell and rent out.

8. Located in a pleasing and safe environment.

9. Choose a low-maintenance property. Ensure that the property you’re buying is well-built and free from defects.

10. Check the availability of shopping centres, parks, nearby beach, sport facilities and other amenities that will make the area attractive to other potential buyers and tenants.

We also recommend building a relationship with a real estate agent that you have faith and confidence in.  This way, they will be able to let you know as soon as potentially suitable properties come on to the market, or even advise you of upcoming properties.

Take a look at Marquette Turner’s current property listings portfolio – there may be many opportunities for you.  We are happy to simply chat and discuss anything with you so please feel free to contact us on 1300 737 778 or info@marquetteturner.com.au

Simon Turner

East Hampton, New York
Net Worth:
$3 billion
Rank: 368

Called Quelle Farm, Steven Spielberg’s 12-acre summer retreat sits on Georgica Pond, the A-lister playground of such stars as Calvin Klein. The Hollywood kingpin and his wife play host to a retinue of top stars and their families each summer, the Clintons and Gwyneth Paltrow and her brood among them.

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