In the world of luxury real estate, there's nothing quite so important as the location. No intelligent element of design or marketing can match the prestige of being located in one of the world's top luxury markets. The following five cities are home to some of the most covetable luxury properties worldwide.
This iconic gem on the French Riviera proves that size isn't everything. Despite measuring less than one square mile, Monaco is the undisputed king of exclusivity. In a town where super yachts jostle for space in the upmarket marina, property on dry land comes at a premium. This waterside paradise serves for many as a gateway to the shimmering Mediterranean, but there's plenty more to it than that. From high-end casinos to Michelin-starred restaurants, there's no end to the life of luxury in Monaco. The stunning Côte d'Azur is just the beginning. The possibilities for exploring the Mediterranean are just as exciting as the city itself.
2. Hong Kong
The waterfront setting of Hong Kong makes comparisons with Monaco a real temptation, but these two cities couldn't be any more different. Where life in Monaco is all about pleasure and relaxation, Hong Kong promises a much faster pace. Hong Kong's property market is booming, with prices continuing to rise. Currently, the average price per square foot in central Hong Kong sits around the $5,000 mark. China's upwards trajectory, though, suggests that the rise in prices still continues and turns it into a shrewd place to invest in property.
3. New York City
The allure of New York City remains as universal as it was in the 1920s. The real beauty of this American city is its division into various districts. Each neighbourhood truly has its own feel: from the recently revitalised Bushwick in Brooklyn, to the well-established, sophisticated neighbourhoods of Tribeca and Carnegie Hill, in Manhattan.
London is brimming with historical monuments, verdant parks and cutting-edge shopping and dining options; and its position among the world's top luxury markets means it's just as smart a place to invest as to live. The leafy streets of Chelsea and Kensington are some of the most exclusive in the world. For iconic Georgian, Edwardian and Victorian mansions, until heading over towards Notting Hill.
Shanghai's reputation as one of the world's great financial centres goes a long way to explaining its presence among the top luxury markets. It isn't just industry that attracts so many, though. The city's skyline is an impressive sight, with a mixture of old colonial buildings and cutting-edge skyscrapers hugging the Yangtze River. Shanghai is also home to a wealth of luxury real estate, with plenty of opportunities for the erudite investor.
Engel & Völkers is a global real estate company, with offices in more than 30 countries around the globe. This means they're well positioned to advise on making a move abroad. Speak to an Engel & Völkers agent today to discuss your options and to take a look at some luxury properties worldwide.