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Around The World

We look at four areas outside the U.S. attracting international attention for their real estate.

By Alyssa Gautieri, Kristen Ordonez and Marlene Ridgway

©istockphoto.com / gradyreese

Turks and Caicos

With a booming economy, a rise in tourism, and massive projects underway, Turks and Caicos is attracting luxury buyers nationwide, according to Perla Nieves Chesterton of The Pearl Residences.

“Besides the lovely, sunny and warm weather, people flock to the islands to cash in on the opportunities,” says Chesterton. “There are no income, property, capital gain or estate taxes. There’s a shortage of and a need for just about any business, so success is almost guaranteed.”

 

Property in Turks and Caicos can range from $1 million to $75 million. According to Chesterton, luxury condos can be purchased for around $1 million, exceptional condos for $2 million to $3 million, and waterfront homes for around $1 million. Beachfront residences are typically priced between $5 million and $25 million, but may go up to around $75 million. “The entire country and its marketing is positioned at exclusive and luxury hotels, homes and services,” Chesterton explains.

 

Visitors, residents and investors are coming from geographically diverse locations — from Russia and China to the U.S., Canada and U.K. The primary market is Canada, the U.K., and the U.S. — with most American buyers coming from the Northeast.

Providenciales, Turks & Caicos | ©istockphoto.com / anouchka

Canada

Canada is one to boast some of the safest communities in the world, from the metropolitan areas of Toronto to quaint neighborhoods like Halton Hills. Melissa Krause, sales representative for RE/MAX Real Estate Centre Inc., considers herself an expert here as she has witnessed the town evolve before her eyes.

 

“Halton Hills has a genuine sense of community, where people come together to support one another,” she says, also noting that many families are drawn to these communities. According to Krause, there are many aspects of this region that attract buyers both nationally and internationally.

Glen Williams, Toronto | Photo courtesy of Melissa Krause

 

 

”[Halton Hills], which features Georgetown, Acton and the quaint villages of Glen Williams, Limehouse and Norval, often brings about buyers from the larger and surrounding metropolis,” she notes, saying that many relocate from the bigger cities of Oakville, Mississauga and others with the desire to live in a small town. This need from buyers is satisfied in areas like this in Canada both through luxury residences and communities as well as extracurriculars and amenities for all.

The most desirable luxury homes in Halton Hills are in Glen Williams, or “The Glen,” which is home to the largest artisan’s village in North America. From the different studios, antique shops, and both fine and casual dining to the three exclusive subdivisions, the luxury lifestyle is within easy reach in this small town.

In terms of prices and listings, the highest priced listings in Halton Hills range anywhere from $1.5 million to $2.5 million, with these homes sitting in any of the high-end subdivisions, Wildwood Estates, Bishop Court and Meadows in The Glen. The highest-priced residential home can be priced upwards of $4 million, surrounded by 10-plus acres with all the “bells and whistles” included, from in-ground pools, gourmet chef’s kitchens, and more. “Rural homes of this magnitude do not come up often and when they do it can take a much longer time to sell,” Krause says.

Argentina

 

With foreign consumers coming from Spain, France, Netherlands, United Kingdom and The United States, Argentina is drawing in a range of luxury buyers. “Argentina has always been considered a top destination in Latin America and has an important position in the South American luxury market,” says Viviana Bonelli of Coldwell Banker Grupo Gardiol.

 

“From an economical and political perspective, new leadership in Argentina has created better expectations for the future,” says Bonelli, who notes that favorable exchange rates in 2018 have increased interest from foreigners in the luxury real estate market. Growing popular in the U.S., Argentina is particularly popular among residents from California, Miami and New York.

 

“Vacation homes have long been a draw for high-net-worth investors — whether it is ski, golf, mountain or beachside retreats,” Bonelli says. “In Argentina, we observed that affluent consumers look for something that is truly unique, and this has a different representation for each person.” She said the highest-priced listing in Buenos Aires area is around $10 million.

 

Bonelli also notes a rise in tourism in Uruguay, one of Argentina’s neighboring countries.

Bariloche, Nahuel Huapi Lake, Argentina | ©istockphoto.com / MaRabelo

 

“The tourism industry in Uruguay is an important part of its economy. Oceanfront luxury developments are attracting investors from Europe, Argentina and Brazil, looking for luxury living, with unparalleled degree of elegance and functionality plus extraordinary amenities,” she says.

 

Ireland

 

“The Irish economy is the fastest growing economy in Europe with a projected growth rate for 2018 of 5.6 percent,” says Phil Thompson, real estate agent for Des Lalor Auctioneers. This projection supports the notion that Ireland’s luxury real estate is solid and continuing to expand, which can partly be explained by the rise in net immigration. “A high percentage of luxury property buyers are coming from overseas, both returning Irish migrants who rode out the depression in more lucrative locations and high-net-worth individuals moving here for employment,” says Thompson.

 

Lake house in Republic of Ireland ©istockphoto.com / MaRabelo

Chinese and Asian buyers, as well as those “seeking a safe haven in the European Union,” are another source of expansion, according to Thompson. The rise in buyers has put a strain on the available housing in cities, which has boosted the value and popularity of space outside of Dublin. “Prices are increasing rapidly in the commuter belt, 10 to 20 miles from Dublin city center,” says Thompson.

Additionally, an area growing in value is The Docklands. This is the area where “social media giants such as Facebook, Google and LinkedIn have their European headquarters and is proving highly popular as the new workers try to secure homes close to where they work,” says Thompson.

Thompson reports no shortage of real estate options. “The luxury market in the Dublin area is generally considered to consist of properties in the €1 million-plus ($1.15 million-plus) range,” he says. The highest-priced listing is a 7-bedroom mansion in a coastal setting for €10 million ($11.5 million).

A new offering from one luxury travel company is inspiring clients to change the way they travel by transforming a standard journey into a game full of unexpected scenarios with strangers, intellectual puzzles and physical experiences.

By: Kelly Potts

Philippe Brown, founder of Brown + Hudson, knew that it was time to shake up the way people travel when a client came to his company and mentioned that their kids are more excited to play computer games at home than they are to experience new destinations. Enter The Great Game — a tailored journey that includes challenges, clues, puzzles and chance encounters to help you discover a location in a completely new and engaging way. “We started researching the particular games the kids were playing and the mechanics of how those games become utterly addictive and engaging,” Brown says. “We had to take everything that’s so messed up about these computer games and translate that to the real world, to include varying levels of challenge, prizes and a sense of competition.”

 

For this family, and many others, Brown notes that the issue wasn’t where they should travel, but rather how they should travel. The Great Game can range from physical stimulation to intellectual challenges, but every trip encourages clients to travel in a way they’ve never traveled before. “We turn it into a game and then the client has a better chance of seeing a place with new eyes or childlike wonder,” he says.

 

Where you play the game is totally up to you, though Brown does recommend you allow enough time in a destination that offers much to experience, such as Downtown Buenos Aires or Patagonia, for example. “Places that are more intense offer a richer palette,” he says. “To get the full benefit of the trip, it’s better to have it be longer than four days because then you really get into it.”

 

Before embarking on this unique getaway, there’s a planning process that Brown compares to working with an architect. “We get to know you, get a feeling of what you’re looking for and make sure we ask the right questions so we get the trip right,” he says. “We believe that before getting excited about places, the client is the destination.” The trip planning interview consists of questions that may seem random, but were crafted with the assistance of a therapist to really get to the heart of the person and understand their motivations, fears and goals for the trip. “Unless you ask the questions, there’s no point in talking about places,” he says.

 

Brown + Hudson currently has three Great Game trips in the works and one that occurred in India last year. One trip the company is planning to Costa Rica includes a challenge with zip lining. “When people come to us and say we want the kids to build up confidence, zip lining was the perfect way to build physical confidence,” says Brown. 

 

Of the game that took place in India, Brown says, “This particular story was really interesting because they came to us with their great aunt’s diary. We realized, we can integrate this between what this family does and what the great aunt did to make the story richer and more connected.” One aspect of this trip involved a young boy, a complete stranger to the family, taking their hand and leading them to the entrance of Mehrangarh Fort in Jodhpur, Rajasthan after closing hours to enjoy time alone with the director of the fort museum.

 

If a meaningful or insightful journey is on your agenda, Brown + Hudson can certainly incorporate these aspects into the game. “If the family wants to learn about important issues of a particular area, part of the game might be meeting refugees,” he says. There’s also the chance to have a trip full of physical adventures and activities, a vacation that offers intellectual challenges and puzzles or a voyage offering interaction with strangers and family alike. Brown says, “There isn’t one recipe, it changes for each client.”

 

During this journey, clients can choose to have the help of a ‘guardian,’ a local guide who understands the game and the family’s needs, and ensures that the family is enjoying the game and moving through it in a timely manner. They can offer as much or as little assistance as the client wants, while also helping to ensure that everything the family hopes to get out of the trip is accomplished. “We want them to achieve their objective, so we control what happens to a certain extent,” says Brown. “Sometimes the guardian needs to be there to help them see the big picture.”

 

While The Great Game was not inspired by the traditional escape rooms that have been gaining popularity around the world, Brown notes that they have much in common. “The parallels are there — going into an unfamiliar environment, not knowing the rules, having someone guide you.” Just like an escape room, Brown notes that the loss of control is what sparks interest in The Great Game. “People realize that it’s a return to child’s play… how many adults get to play and think ‘it’ll be fun to not worry about anything and let myself be guided through this game’? It’s utterly relaxing,” he says.

 

The Great Game can be enjoyed by families, couples or individuals of all ages and backgrounds — and each client will gain something different from the experience, whether it’s solving a problem they’re facing, learning more about themselves, or just have a unique and unforgettable trip that opened their eyes to a new way of travel.

Of the game that took place in India, Brown says, “This particular story was really interesting because they came to us with their great aunt’s diary. We realized, we can integrate this between what this family does and what the great aunt did to make the story richer and more connected.”

One trip the company is currently planning to Costa Rica includes a challenge with zip lining. “When people come to us and say we want the kids to build up confidence, zip lining was the perfect way to build physical confidence,”
says Brown.

During this journey, clients can choose to have the help of a ‘guardian,’ a local guide who understands the game and the family’s needs, and ensures that the family is enjoying the game and moving through it in a timely manner.

“The Great Game is suitable for anyone who is willing to question how and why they’ve traveled in a specific way,” Brown says. “It’s perfect for someone who wants to get more out of their time abroad and someone who’s got an appetite to devour a place.”

 

While the pricing of The Great Game does vary from trip to trip, figure on a minimum of $25,000 per person (Brown + Hudson recommends a minimum of one week), in addition to a retainer fee of $4,000 for the planning and creation of the game (including the involvement of specialist experience and game designers). Brown does have some advice for those playing the game — “Trust, use your brain, expose yourself and the answer could be in something random.”

 

His hope for The Great Game is that it will awaken clients to realize that they deserve more from their travels. “If you could leave yourself behind and be a completely blank canvas everywhere you went, then your experiences would be much richer, more memorable and actually have therapeutic effects,” he says. “That’s what our approach does.” 

Photos courtesy of BrownandHudson and istockphoto.com



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