With economic and political volatility rumbling into 2023, super-prime real estate provides investors with a safe and secure investment and can also provide a healthy passive income stream for the long term.
The best luxury real estate investments are often seen as a safe hedge against rising inflation and economic uncertainty. This is because there is always a demand for luxury real estate in the world’s most desirable destinations. The sales prices speak for themselves, with super-prime real estate destinations continuing to make record-breaking sales, providing property investors with a healthy return on investment.
If you want to make a luxury real estate investment in 2023, read on. Here are the countries, and developments, that are attracting the world’s wealthiest individuals seeking an investment property.
Best real estate investments 2023
The super-prime market in London is surging, driven by an influx of foreign investors seeking luxury homes to capitalise on a weak pound. Indeed, London agents are reporting record-breaking luxury property investment transactions in the super-prime market above £10 million as wealthy individuals seek to invest in the city. London’s most exclusive addresses include Mayfair, Kensington, Belgravia and Chelsea, where luxury properties are within striking distance of designer boutiques, lavish spas, and Michelin-starred restaurants.
Super prime residential developments include Chelsea Barracks, Sloane Square, considered the UK’s most expensive residential development, the redeveloped Battersea Power Station, and Audley Square, Mayfair, a £2 billion development boasting luxury townhouses, penthouses, and apartments with dedicated concierge services.
According to realtors, New York’s super-prime market hit an eight-year high in 2022, with prices in Manhattan rising by an average of 7.1%. Manhattan has long appealed to the world’s wealthiest individuals, and its most exclusive addresses are considered a safe haven for global investors seeking to make a luxury real estate investment.
The Big Apple’s most prestigious addresses are typically found around Central Park, including the Residences of the Ritz-Carlton, the iconic Woolworth Residences, the Central Park Tower, Trump International, and 740 Park Avenue, considered one of the richest and most powerful addresses in New York.
The Principality of Monaco might be one of the smallest countries in the world, but when it comes to luxury real estate, it packs a mighty punch, with the average cost per square metre exceeding the historic 50,000 euros for the first time in 2022. The city-state is now the world’s most expensive real estate market and offers fantastic real estate investment opportunities.
Luxury property for sale in Monaco caters to the world’s richest, with some of the most exclusive residences, including the twin towers of Tour Odeon, the exclusive One Monte-Carlo, and the lush tropical oasis L’Exotique.
However, the principality’s newest development, Mareterra Monaco, will set a new benchmark in super-prime Monaco real estate. Considered Europe’s most ambitious construction project, Mareterra is a new land reclamation project set for completion in 2025. The luxury development will boast elegant apartments, penthouses, townhouses, and ultra-rare waterfront villas, all set in lush tropical gardens. The sustainable development has been built with Prince Albert’s aim of carbon neutrality by 2050, boasting solar panels, rainwater recovery systems, and electric vehicle charging stations.
The United Arab Emirates of Dubai has quickly risen as a global hotspot for luxury property investments, attracting VIPs and celebrities with some of the glitziest residences in the world. The emirate has one of the world’s fasted growing economies, making it a highly attractive real estate investment, especially for those seeking diverse property portfolios.
According to leading realtors, Dubai’s super-prime market shows no sign of slowing. The emirate’s most luxurious properties can be found around the neighbourhoods of Emirates Hills, Jumeriah Bay Island, and Palm Jumeirah, an extravagant land reclamation project which can be seen from space. Popular new developments include the Bulgari Lighthouse, and Palm Flower, a one-of-a-kind beachfront property currently under development.
When it comes to making the best real estate investments, the above destinations are ‘the’ place to invest in 2023.
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