By Jessica Ganga and Marlene Ridgway
“With 300 days of sunshine, golden beaches, friendly people, and stunning countryside, it’s no wonder that many visitors seriously consider buying property in North Cyprus,” explains Aylin Pelin Onar, Broker/Owner and Global Luxury Ambassador of Coldwell Banker Maximum.
Cyprus consists of 480 miles of stunning coastline, attracting buyers from all over the world. ©iStockPhoto.com / Mindstorm-Inc.
As the third-largest island in the Mediterranean, Cyprus boasts 480 miles of coastline, citrus groves, gorgeous beaches and has a capital growth average of 20 to 40 percent annually over the past three years, making it a prime opportunity for luxury buyers, according to Onar. There’s also a certain mystery surrounding the island that is appealing. “It’s no surprise that according to legend, Julius Caesar gave the island to Cleopatra as a token of his love.”
With the highest-priced listing in the area being an $8 million, 150,000-square-meter villa built on a private hill, it’s clear that there is an expanding demand for luxury properties. “Our market is growing due to improving local and international economic conditions,” says Onar. Situated between three continents, Europe, Asia, and Africa, the location has contributed to the growing international market. “We are receiving clients from Turkey, Russia, Scandinavian countries, the Middle East, England, Israel and Australia,” notes Onar.
With the continuing development of new constructions and homes, the luxury market is expected to keep expanding to sustain the demand. Up and coming areas such as East of Kyrenia can provide the 5-star accommodations that luxury buyers now expect, including social facilities such as gym centers, spas, pools, and high security. “East of Kyrenia is the shining star, especially with its seafront luxury sites. The natural beauty, beautiful beaches, amazing mountain views, 18-hole international golf course, and 5-star hotels with casinos are the attraction points of this area,” says Onar.
Luxury properties in Esentepe, Kyrenia, North Cyprus embrace the island’s natural beauty, such as this home with gorgeous ocean views that sold recently for $900,000 USD. Photo courtesy of Sadi Yolgecen.
Recently sold for $7.7 million USD in Kyrenia, North Cyprus, this house examplifies the ultra-luxury listings available. Photo courtesy of Sadi Yolegecen.
With its diverse landscape and abundance of land, Canada is an ideal location for luxury buyers seeking a new place to call home. Of Canada’s many cities, Toronto is one that is family friendly and among the safest in the country. “People see Canada as a safe place to invest their money and raise their family. Toronto is the biggest city in the country and the financial centre of the country,” says Barry Cohen, Broker at RE/MAX Realtron Barry Cohen Homes Inc., Brokerage in Toronto.
As Canada’s largest city, Toronto has grown to be a rich metropolis with no shortage of things to do. “It’s a very cosmopolitan, multicultural city,” says Susan Macarz, Broker at RE/MAX Ultimate Realty Inc. Brokerage. Toronto boasts picturesque parks and playgrounds, country clubs, a theater district and nightclubs, to only name a few. Toronto also features some of the best schools in the country, attracting families seeking to provide their children with a top-notch education, according to Macarz.
Toronto, the largest city in Canada. ©iStockPhoto.com / PGIAM.
Toronto’s real estate market is diverse and continuously changing. “What’s happening is that there is very little land left in Toronto, so what people do is they buy big properties with an older house on it and they tear it down because they are buying it for land value,” says Macarz … Another trend that Macarz noted was the increase of townhomes and condominiums in the area, specifically Central Toronto, adding to the variety. “What I’m finding more often now is … there’s townhomes that are being built along the major streets. These townhomes start at about $1.5 million CAD and up,” says Macarz. Tall high-rises are being built that feature luxurious condominiums that have sizeable square footage, according to Macarz.
Along with urban-styled living spaces, Toronto is home to spectacular estates and mansions. According to Macarz, luxury buyers can find homes priced from about $4 million CAD to $30 million CAD. The most expensive listing in Toronto is located in the Bridle Path area, on the market for $32 million CAD by Cohen’s team. “It’s a magnificent multi-generational estate with a completely separate two story in-law apartment with its own entrance, elevator, and garage,” says Cohen. The 35,000-square-foot home also features an indoor pool and tennis courts.
Overall, both Macarz and Cohen made clear that Toronto is a premier location for people seeking to find their dream home.
In the St. Andrew-Windfields area of Toronto, elegance and contemporary blend in this listing recently sold for $7.1 million CAD by the Barry Cohen Team. Photo courtesy of Barry Cohen.
On beautiful Lake Huron in in Sarnia Ontario, Canada, this home was originally custom-built by renowned Pineridge Timber Frame Homes. The 6,500 square feet of living space is detailed with a 37-foot stone hearth, Rumford fireplace and two more gas fireplaces.
“This unique, custom-built home features wood beams and walls throughout the entire main floor, giving it a log cabin type feel, with a modern twist,” says Jim Pumple of Coldwell Banker Southwest Realty who is listing the home for $2.5 million CAD.
The home also showcases a beautiful winding staircase, professional kitchen, four bedrooms, four baths, granite islands, heated floors under ceramic, marble and cement, a steam sauna, and a home theater with leather seating.
On 40 acres with approximately 550 feet of prime south exposure shoreline, Bellevue Estate is a jaw-dropping luxury lake house on Lake Rosseau in Muskoka, Ontario, Canada. Enjoy a coveted sand beach, 2-story boat house with a dock and gazebo shaded seating area, art studio, tennis court, massive sports field, private winter ski hill/snowboard park and a treehouse jungle gym with zip line through a secluded forest.
Inside the 18,000-square-foot home, entertainment abounds with a Muskoka media room (made from reclaimed timbers salvaged from a 19th-centry shipwreck on Lake Huron), a live music private bar and games arcade, a movie theater, and a fitness center with a hotel-grade sauna and yoga/massage studio.
“The home offers a cool, laid back vibe that is surprisingly intimate, unpretentious, and hip,” says listing agent Ross Halloran of the Kolbuc Halloran Team of Sotheby’s International Canada.
Listed for $14.95 million, the home also features 14-plus bedrooms, 10-plus bathrooms, a soaring great room with a 35-foot vaulted ceiling and two stone fireplaces. The main-floor master bedroom showcases an airy 30-plus-foot ceiling with a five-piece en suite, including a claw tub. There is also a separate butler/caretaker residence with a full bath.
This home would be perfect for a multi-generational family with many friends and business associates who would like to visit one of the last grand estates in Muskoka. If The Great Gatsby owned a lake house in Muskoka, this would be it.
McCann Realty Group Ltd.
3307 Yonge Street, Toronto, Canada
416.481.2355 | firstname.lastname@example.org | www.mccannrealty.ca
McCann Realty is one of the finest boutique brokerages in Toronto. Cheri, ranked among the top 7 agents in Canada with her previous brokerage, has over 30 years of experience in Toronto’s high-end real estate market. Our clients have access to a team of highly experienced specialized agents with intimate knowledge of the Toronto market providing our clients with white glove service, deep practical expertise, exclusive access to opportunities, and a strong network of buyers and sellers. Hardwork and integrity get you the results you want!
HARDWORK — INTEGRITY — RESULTS
Listing by Cheri McCann
2 CHEDINGTON PLACE PH | BRIDLE PATH
One-of-a-kind, 2-story penthouse with 4 bedrooms and 6 baths in Bridle Path. Private elevator to the 8th and 9th floor, 5,390 square feet, 4 terraces, 4 parking spaces, and 2 lockers. $8,100,000.
With 54 feet of beachfront, this lakefront home in Vernon, British Columbia is ideal for entertaining — it features a dock, boat lift, outdoor living spaces and two full kitchens.
Inside, details include open-concept living, vaulted ceilings, granite countertops hardwood floors and a covered deck with outdoor gas fireplace and views of Okanagan Lake. The lower floor includes waterfront living at its best with in-floor heating, a wine cellar, summer kitchen, outside shower and large walk-out patio with outdoor gas fireplace and built in barbecue.
“Guests are always welcome, as the house has a self-contained 3-bedroom casita above the garage with lake views and a private deck,” says listing agent Norm Brenner of Coldwell Banker Four Seasons Real Estate, who is listing the home for $2.95 million. “It is ideal for those that want to entertain or anyone that has extended family.”
Toronto, Ontario, Canada
Susan Macarz is a unique real estate professional in Toronto’s prestigious and upscale neighborhoods. From a young age, Susan honed her love of fine homes in a real estate family. Her dad — a successful real estate developer and builder of communities in and around the Greater Toronto Area — nurtured Susan’s flair for home decor and passion for fine home design.
With an enthusiasm for sales, Susan was soon redesigning model suites, giving a great perspective of how meticulous design works as a sales tool. As she concentrated on interior design and marketing, Susan worked closely with her father, absorbing real estate knowledge, sales strategies, and negotiating tactics. In the early 90s, Susan went for more, focusing her career on real estate sales and marketing. Not settling for the ordinary, she achieved her real estate broker license designation and has gone on to win Re/max awards of distinction: In 2005, she won the award for Top 3 Individual Transactions in a population over 150,000, as well as memberships in the 100% Club, Re/max Platinum Club, and Re/max Hall of Fame; and in 2015, Susan was presented with The Lifetime Achievement Award.
Susan has always looked for more innovative ways to lead, but it is her art of negotiating that has truly set Susan apart over the years. She has a knack for looking at a deal from all sides and finding inventive solutions to get it done.
Susan is a smart marketer and sharp negotiator!
Every year we select locations to highlight as Markets to Watch. This year change is underway and we take a look at some top performers, others that are beginning to transition, and a handful of under-the-radar locations that are emerging.
On track for another record with sales up more than 3 percent, Austin’s luxury patina shines ever brighter. In October, the medium home value in Barton Creek increased to $1.02 million, making it the city’s first million-dollar neighborhood. Austin’s charms include no income tax to win over newcomers, but music and tech might be tops.
Bozeman might seem like a sleeper on this list, but with ranches, the Yellowstone Club and Big Sky country it’s an under-the-radar hangout for demi-billionaires and billionaires.
Brooklyn, New York
No longer second best! Buyers are making Brooklyn a first choice. Median prices in the most expensive neighborhoods hit the $1 million mark. Israelis, Chinese and Western Europeans also gravitate here. It’s no surprise this New York City borough is No. 2 on Urban Land Institute’s Markets to Watch.
By August, the Chicago area recorded as many luxury sales as in all of 2016 or 2017. Sales of $1 million-and-up properties set a record in the third quarter with a 19-percent increase over 2017. According to RE/MAX, luxury is booming in the west loop area. Upscale suburbs trail the city. Lots of new condos and stunning new buildings open doors to more urban opportunities in a market that hangs in the balance.
Few cities have charted a post-recession course as strong as Dallas and the city remains Urban Land Institute’s No. 1 location for overall real estate prospects in 2019. But the dramatic post-recession price increases are over, say economists. Moderating prices and adjusting inventories are positive indicators that that a move back to a normal market is underway.
Real estate’s Rocky Mountain high isn’t over yet. Denver continues to rank in the top group on many lists. In the upscale bracket, a shift toward balance is underway with the inventory of $1 million-plus homes at about seven months. Year-over-year prices are up on average 9.29 percent. Boulder remains a sweet spot for luxury, ranking 10th among cities and towns with at least 10 neighborhoods considered million-dollar.
Las Vegas, Nevada
Projections call for appreciation as high as 10 percent this year. Nevada was the fastest growing state, with new platinum communities; forward-looking, innovative architecture; and spectacular views capturing the attention of buyers looking for lifestyle and tax relief.
Hilton Head, South Carolina
Coastal South Carolina and Georgia are ground zero for demographic shifts and the growing ability among the affluent to live wherever they want — a trend just taking off. New developments including Palmetto Bluff add to demand for the Hilton Head region.
Moving toward balance. A long-awaited uptick in homes on the market is one of several hints of a market shift. Median prices reached a record high this fall, and homes still sell quickly. Still the inventory of homes for sale is one of the lowest in the country. Upper tier and move-up brackets are less competitive.
D.C. continues to be in the top group on watch lists but Amazon’s recent announcement makes real estate in Northern Virginia much more interesting. What the prospect portends for current homeowners is uncertain, but sure to make this a market to watch in 2019.
Park City, Utah
No longer just a ski hangout, this Salt Lake neighbor is luxury’s newest player. The most desirable neighborhoods see a shortfall of inventory. Land prices increased by 25 percent with the highest number of sales occurring at Promontory. Opportunities abound: new projects at The Canyons, a large expansion of Deer Valley, a $4 billion renovation of the Salt Lake airport and a bid for the 2030 Olympics.
Wikimedia Commons / Don Lavange
Beaches and skiing, does it get any better than that? Hipsters meet old money here. Ranked among the top 20 for entrepreneurs, the city has a growing tech industry and one of the best foodie scenes in the Northeast. Look for more new construction. Prices will continue to ease upward as more people discover this hidden gem.
Santa Barbara, California
Opportunities for buyers in many California locales continue to increase as markets shift. Median prices in Santa Barbara in November were down more than 25 percent, which is good news for buyers. The area remains a prized luxury refuge and lower prices open the door for newcomers to enjoy one of the most unique locations in the U.S.
The city’s iconic waterfront is being reimagined with a vision to increase cultural programming and urban amenities. Median prices have been increasing steadily, up 25 percent since 2014. New construction means more inventory with more on the horizon. Agents report steady and growing interest in individuals from high tax states.
Happier times are ahead for buyers in Seattle with active listings up by 41 percent. Even though inventories are still slim, it’s a good indication the frenzy is over. Closed sales in November were down 28 percent. Homes continue to appreciate but the increase has slowed to 5 percent. For buyers and sellers this is definitely a market to watch. The city still is in top groups in many rankings, but the frenzy is over.
Wikimedia Commons / Jeff Gunn
Canadian Baby Boomers and Millennials came together and turned up the heat on the luxury condos in 2018; single-family home sales decreased by as much as 44 percent. While the foreign buyers tax has reduced sales to overseas buyers, it’s also opening new opportunities for locals. Local buyers will continue to drive demand for condos here.
Luxury’s top performers in 2018. Not only are residences in demand, but new resorts are raising the bar for luxury and reinvigorating current markets. New developments in Turks and Caicos, including the ultra-indulgent Gansevoort Villas, turn up the heat on interest in the Caribbean. Easy reach from the U.S. and private enclaves generate new interest in the Bahamas. Cabo San Lucas, Mexico is seeing new resorts and other regions along the Sea of Cortez are seeing new development. Mandarina in Nyarit is the site of One & Only’s first collection of private homes. Owning a private island continues to be an ultimate purchase and the Bahamas is ground zero.
Austin Board of Realtors
Michael Saunders, Founder and CEO Michael Saunders & Company
Anthony Hitt, President and CEO, Engel & Völkers Americas
Aleksandra Scepanovic, Co-Founder and Managing Director of Ideal Properties Group
National Association of Realtors
Northwest Multiple Listing Service, Kirkland, Washington
This story originally appeared in the Winter 2019 issue of Unique Homes Magazine.
Canada’s cool climate is yielding to hot markets, attracting buyers from around the world.
Agents showing Canadian real estate agree that areas such as Cambridge, Central Toronto, Nova Scotia, and Downtown Montreal and are appealing to buyers and families from all over the world. Their proximity to accommodating cities and the suburban feel are attracting a plethora of buyers, and these regions are only expected to grow.
Attracting buyers to the province of Nova Scotia, Mariana Cowan of Coldwell Banker Supercity speaks to the area’s growth. “With 878 parks, 33 beaches, 532 trails and pathways, universities, research and development, Nova Scotia is a great place to invest. Sales in July 2018 were the best they’ve been in six years,” she says.
Amy Assaad of Royal LePage Heritage in the Downtown Montreal and Westmount area explains that buyers there do not necessarily fit into a specific demographic. “Many properties are within walking distance to Mount Royal, but are also close in proximity to the city,” says Assaad. The variety of opportunities are attracting “many local buyers and foreigners, especially from the United States,” she says.
For Assaad, a considerable draw for buyers is The Golden Square Mile, which has been compared to New York City’s 5th Avenue. “The Golden Square Mile offers fine art museums, 5-star restaurants, endless shopping, and Mount Royal,” she says. In Cowan’s province, “You can have the seaside lifestyle that Nova Scotia is famous for, and be within minutes of our capital city of Halifax,” according to Cowan. Assaad also explains how growth is in the future. “The architecture in the area is already beautiful, and it will continue to increase in value,” she says.
With a slightly different view, Susan Macarz of RE/MAX Ultimate Realty Toronto, Ontario contends that those buying Canadian real estate do fit into a certain demographic. “Most are successful in business, whether immigrating or moving up.” Although that does not limit those suited to buy in the area. Buyers hailing from a diverse range of cultures come seeking financial independence, according to Macarz.
“Buyers come from all over the globe,” Macarz says, without neglecting her local clients. “There are also many Torontonians that are moving up and desire a country home, or a larger home for their family,” she says.
Steve Bailey of RE/MAX Real Estate Center in Cambridge, Ontario also notes that the diversity among buyers is a selling point, especially for those coming from the Greater Toronto Area. “I think what it really boils down to is that all of these cities are great places to live, work and raise a family. Each is a diverse and thriving community with a unique blend of urban and rural areas,” he says.
Similar to Assaad and Macarz, Bailey agrees that the area accommodates many different types of buyers. “We have a lot of manufacturing locally, which supports many of the families we have in the region. And we have a lot of professionals who commute out of the city,” says Bailey. “It really creates a wonderful blend of people and personalities.”
Photos courtesy of Steve Bailey. Rendering courtesy of Amy Assaad
Headshot image courtesy of Malcolm Crowther
British architect Will Alsop recently passed away at the age of 70, leaving behind a legacy that encapsulated a variety of architectural styles throughout Britain and Canada. According to his studio’s website, all Design, Alsop’s core values were innovation, expression and originality with an emphasis on enjoyment, to ultimately “make life better” by designing individual buildings or spaces that embrace broader principles of urbanism and city development. To further this philosophy, he often used painting, writing and “playing” to further an understanding of design.
In cities like Toronto, London, and Hamburg, many projects completed by Alsop can be defined through colorful and striking details that both stood out and completed the surrounding community. Below we’ve listed several of his projects that emphasized his values.
North Greenwich, Finch West and Pioneer Village Stations
Alsop partnered with John Lyall and Jan Störmer in 1999 to complete the North Greenwich station of the London Underground. This station boasts a tiled interior with striking cobalt-blue columns, inspired by the design of Mass Transit Railway stations in Hong Kong.
The architect also had a hand in several stations “across the pond” in Toronto, Canada. While the Pioneer Village station features irregularly-shaped chandeliers and a dramatic outdoor canopy, the Finch West station is, by contrast, “a happy assemblage of brightly coloured glass panels,” according to Simon Lewsen of Azure Magazine.
Courtesy Jason Paris
Courtesy Mike Knell
Courtesy Wikimedia Commons
Sharp Centre for Design, OCAD University, Toronto
Alsop’s design for OCAD University’s Sharp Centre features a large checkerboard slab centered above a school building atop tilted, multi-colored pillars. The $42.5 million expansion and redevelopment received numerous awards, including the first Royal Institute of British Architects Worldwide Award, the award of excellence in the “Building in Context” category at the Toronto Architecture and Urban Design Awards, and further redefined the university and the surrounding neighborhood.
Peckham Library, London
Opening in 2000, the Peckham Library in south-east London features pre-patinated copper and is shaped like an upside-down capital L. The top section of the structure, an elevated reading room expertly set above the noise of the street, is supported by slender steel pillars set at different angles. Winning the Stirling Prize for Architecture that year, Peckham Library was the project that heralded Alsop as an iconic architect.
Working to develop urban areas around the country is based on focusing on and improving the lives of residents for future years to come. To emphasize these goals, many developments are implementing sustainability methods in design and architecture to benefit the surrounding community and inhabitants.
Urby — Staten Island, NY
Located on the North Shore waterfront, Staten Island Urby is the largest new-construction development in Staten Island that offers specially curated social spaces that encourage natural opportunities for neighbors to meet and interact, including an urban farm featuring farmer-in-residence, Zaro Bates.
The 5,000-square-foot farm is the first commercial farm to be incorporated into an urban residential development. The farm grows over 50 varieties of produce across 5 major categories: greens, summer vegetables, flowers, herbs and roots. The farmers offer workshops to the community and residents including a fermentation series, growing your own herbs and microgreens, and bee-keeping workshops. Produce from the farm is used by the residents, served in the kitchen and sold at a weekly farmer’s market. Zaro’s business partner, Asher Landes, oversees the apiary, which encompasses 20 beehives on the roof of Urby that produce honey.
Photos courtesy of Ewout Huibers
Residence 2680 – San Francisco, CA
Located in the prestigious Pacific Heights neighborhood, Residence 2680 is the largest single-family home renovation that is built to Passive House standards with Home Platinum LEED certification in San Francisco. Developed by Troon Pacific and built to strict sustainability standards, naturally sourced, low-chemical producing materials like wood, stone and glass were incorporated throughout the home.
“We believe in the inspirational power of natural beauty and use principles of biophilic design throughout our homes to uplift our spirits and enhance health and wellness in the urban environment,” says Gregory Malin, CEO of Troon Pacific. Gregory Malin.
With mental and physical wellness in mind, Troon Pacific incorporates a variety of design features, such as Zen wellness gardens, retractable skylights to provide natural ventilation and clean air, rain chains for natural water filtration, landscaped roof decks, saunas, steam rooms and more.
Photo courtesy Troon Pacific.
570 Broome — SoHo, NY
570 Broome is a new 54-unit luxury boutique condominium that is the latest addition to Hudson Square, which has become a highly sought-after residential neighborhood and go-to destination for retailers, restaurants and businesses.
The material used to build the condominium is a result of a new collaboration between sintered stone slabs and Pureti, an aqueous and titanium dioxide nanoparticle-based treatment. This treatment on the surface of the building is activated through light energy to transform the moisture in the air into oxidizing agents, which destroy pollution-causing particles. For 570 Broome, this equates to taking 2,000 cars off the road for a year or the purifying power of 500 trees.
The overall architectural design references the area’s history through the large framed windows, along with the building’s silhouette evocative of staggered cubes.
Photos courtesy Builtd.
Manitoba Hydro Place — Winnipeg, Canada
Manitoba Hydro Place offers a fully integrated design that capitalizes on Winnipeg’s abundance of sunshine and gusting winds to harness solar and wind energies. The capital “A” form of the tower comprises two wings fused at the north and splayed open to the south. This opening is filled with three, six-story stacked atria or winter gardens that act as the lungs of the building as well as 78-foot waterfalls that humidify/dehumidify incoming air.
The design is 80-percent more efficient than conventional Winnipeg buildings, making it the third most energy-efficient, large scale building in the world. It is also the first large-scale office tower in North America to be LEED Platinum-certified.
Photo courtesy Gerry Kopelow.
Market Square — San Francisco, CA
Market Square, a Gold LEED-certified project, was designed by BCV Architecture + Interiors with sustainability and community in mind. The two-building project transformed the dark, outdated and unused space into a cohesive part of its Mid-Market San Francisco neighborhood.
Natural and recycled materials, including reclaimed wood from one of the building’s earlier additions, are used throughout. Market Square merges state-of-the-art office space with an integrated ground floor community featuring the best of San Francisco’s food and retail purveyors. BCV Architecture + Interiors view sustainability through a myriad of lenses and considers the ethical, cultural, social, economic and historical implication of a project in addition to the technical solutions.
Photo courtesy Bruce Damonte.
12 Warren — Tribeca, NY
12 Warren is a boutique residential condominium nestled in Tribeca developed, designed and constructed by DDG. This development features a hand-laid façade and is an impressive addition to one of Manhattan’s most desired residential neighborhoods.
12 Warren is specifically designed with NYC Energy Code compliance and LEED certification in mind, targeting a Silver level LEED certification. Additional components include a green roof system, accommodating alternative transportation storage, stormwater collection and reuse, reduction of heat island effect with concrete, light grey toned pavers and landscaping elements, construction waste management and secondary tenant-controlled heating elements to reduce overall energy and electrical output. By choosing native and local materials, such as Bluestone from upstate New York, something close to home and natural, helped ensure more sustainable building practices.
Top left photo courtesy of Bruce Damonte. Top and bottom right photo courtesy Robert Granoff.