A rectangular villa floats on the banks of Amsterdam’s Amstel River, the glow of its window sending rippling columns of light across the canal. Designed by +31Architects, the home rests on a hollow concrete box and a solid pontoon spanning two levels, a lower portion that is submerged in the river, and an upper story that is level with the water’s surface featuring a wall of floor-to-ceiling glass. The glass panels slide open to a floating terrace that is moored alongside the villa, the water so close you can reach out your hand and touch it. “The almost absence of a physical barrier between the living area and the terrace invites people to take a refreshing dive into the river Amstel,” says architect Jorrit Houwert, who founded +31Architects along with Jasper Suasso de Lima de Prado.

Boathouse Concept By Dymitr Malcrew

Photo courtesy of Dymitr Malcrew

In the Netherlands, 50 percent of the population lives below sea level, and the Dutch have spent centuries constructing dikes, pumps, and drainage systems to keep the encroaching North Sea at bay. Floating houses have provided an alternate solution––as far back as the 17th century, barges were repurposed as homes. But in recent years, floating structures have grown in popularity, particularly in the face of extreme weather. The obvious advantage is that they move vertically with fluctuations in water levels caused by tides, heavy rainfall, or other flooding. They are also easily relocated.

But beyond the pragmatic reasons, floating homes are also appealing to prospective residents because they afford an intimate proximity to water and a feeling of openness, with light and views that are more akin to a boat than a house. A “normal” house requires a large margin with the water level to prevent flooding. With a floating home, openings in the façade can safely be placed just 35 centimeters above the water level.

“We are seeing a trend worldwide, where high-net-worth Individuals are looking not only for a penthouse but that private island feeling,” says Koen Olthuis, founder of Amsterdam-based Waterstudio. His firm has designed a number of floating homes in the Netherlands, and in recent years began exporting the concept internationally.

In the Maldives, where natural islands are small, scarce, and vulnerable to tides and rising water levels, resort developers are progressively turning to floating architecture. Waterstudio is currently working on a series of water villas for The 5 Lagoons, a master- planned resort in North Male atoll that is a joint venture from Dutch Docklands International and the Maldives Government.

The Ocean Flower By Waterstudio

Photo courtesy of Waterstudio

Included in the project is The Ocean Flower, 185 floating water villas arranged in the shape of a Maldivian flower. The villas have three bedrooms and three en suite bathrooms over two levels and come with private plunge pools. Prices start around $2.5 million. Waterstudio is also designing the Amillarah, a part of the master plan that will feature 43 floating private islands, arranged in an archipelago configuration. Each will have a private beach, pool, greenery, and a jetty to moor yachts. “The concept suits [the Maldives] perfectly,” says Singapore-based architect Dymitr Malcew. He designed a luxurious floating- home concept for a French developer in 2012 and has since received inquiries from resort developers and private investors around the world, including the Maldives.

Malcew’s house concept features two bedrooms, two bathrooms, a living room, a kitchen, and a generous terrace. The interiors are finished with wood, while full-height glass windows provide optimal daylight and views. The house is built on a floating platform that can be easily moved. Electricity is supplied via solar panels or a network if it is docked at a marina. It is also has a water purification system. “I was inspired by the automotive and luxury yacht markets rather than a typical architectural approach,” Malcew explains. Floating architecture is also proliferating in the Middle East. Waterstudio has designed floating taxis and floating mosques. And in December of last year, Kleindienst Group launched The Floating Seahorse, a collection of floating villas off the coast of Dubai. The structures are essentially designed like unpowered boats and have three levels: a submerged master bedroom and bathroom designed to offer views of the surrounding marine life; a main level with a kitchen, dining area, and deck; and an upper level that has an informal bed, kitchenette, and glass-bottomed Jacuzzi. Developers sold around 60 units when the first models went on sale. The remaining Seahorses are priced from $2.8 million.

The Floating Seahorse

Photo courtesy of Kleindienst Group

In the United States, floating homes are most common on the West Coast, particularly in Seattle, where Lake Washington, Lake Union, and The Locks offer sheltered water edge conditions ideal for floating structures. Homes here are moored to docks that are shared with other homeowners, much like living in a cul-de-sac, save for the expansive water views. “There is a long history of floating homes in Seattle; it’s built into the fabric of the city,” says architect Eric Cobb, who has designed floating homes in the Seattle area.

Cobb says that his firm’s experience building prefab and spec homes translated well to the task of designing water homes, which are typically built off-site. This allows for increased precision in a carefully controlled environment with no wind and no rain, but can prove challenging when it comes time to transport the completed structure. A recently completed home was prefabricated at a shipyard in Port Townsend, Washington, and traveled by tugboat to its final destination on Seattle’s Lake Union.

Standing inside the completed home was an incredible feeling, Cobb says. “When you are on the first floor, you are maybe a foot off the water level, and it feels like you are on a boat. It’s an amazing experience to have a sliding glass door off your bedroom and the water right there.”

Lake Union by DNA

Photo by Benschneider

Designs Northwest Architects, another Seattle-based firm, recently built a float home on one of Lake Union’s last unoccupied slips and used the area’s marina warehouses as an architectural reference. The large, box-like structures that dominate the Seattle waterfront in this case provided an ideal form for a modern lifestyle. “The lower floor was kept open by keeping all solid structure on the exterior walls. The upper level is a personal retreat, private from the adjacent homes through the use of small punch windows with large expansive views out toward the water,” says Houwert.

Floating homes in Seattle have become increasingly regulated, however, because of its impact on the shoreline. “They are big, they create massive shaded areas, and it impacts ecosystems,” says Eric Cobb. Municipal regulations now prevent the development of new floating home slips, although the resale market is thriving.

For Koen Olthuis at Waterstudio, such municipal regulations reflect an “old-fashioned way of thinking” that stands in the way of allowing floating homes to proliferate into the mainstream market and create what he believes is a more sustainable housing model. “The experience we have in Holland makes us experts in how large and small foundations can be.”

Amsterdam’s +31Architects agree: “When needed, the floating system can be moved elsewhere at short notice without leaving any scar to the environment. Instead a new house can be placed into the old situation, which makes it the most sustainable and durable way to build.”

Water Villa Weesperzijde By +31 Architects

Photo by Ewout Huibers

While luxury developers have funded much of the recent innovations to floating homes, a new wave of demand is now coming from land-strapped and flood-prone cities from Asia to Eastern Europe. U.K. firms have also proposed similar typologies as a means to deal with flood-stricken areas of the nation and as a solution to London’s housing shortage. Baca Architects recently developed a buoyant home for a New London Architecture (NLA) competition to address the capital’s housing crisis. The project aims to install prefabricated floating housing on disused space along the 50 miles of rivers and canals in Greater London, as well as the 150 hectares of additional “bluefield” space in its docklands, marinas, and basins.

The demand for floating homes is clear, says Koen Olthuis. Now, it’s a matter of negotiating with municipalities and insurance companies and educating them on the life span of water homes, which are long, and maintenance costs, which are low.

Some countries are more open to the idea than others. Waterstudio has spent the past two years working on a project in Aventura, Florida, but have encountered considerable resistance from the local community. “If I have an empty space of land, you understand that I can build there, but if I have a piece of water, everyone complains,” Olthuis says. “In the U.S., people have a stronger feeling of rights and of privacy compared to other parts of Europe or Asia. These homes can benefit the whole community.”

Considering Hurricane Katrina’s devastating effects on low-lying communities in New Orleans, floating-home concepts are probably worth another look. But even if there isn’t a dramatic rise in sea levels, Olthuis notes, Waterstudio remains committed to building on water. “We are concerned with urbanization, with the price of land, the need for land,” he says. “Water gives us three things: space, safety, and flexibility, and a very short response time to changes we cannot foresee.”

This story is featured in the Summer 2016/Fall 2016 issue of Haute Residence magazine. Click here to flip through the digital magazine.

The post Uncharted Waters: Architects Are Experimenting With Floating Home Designs appeared first on Haute Residence by Haute Living.

Yes, sanctity is to be found in beautiful Vancouver, the coastal city wedged between the mountains and the ocean, known for its mild winters and laid-back vibe; its abundance of yoga pants and hemp milk lattes; and its even greater abundance of cash-rich investors, who flock to snap up glass-rich condos––the latest of which, as it happens, is the Trump International Hotel and Tower Vancouver.

The Trump International Hotel and Tower Vancouver is the city's second tallest at 616 feet

Developed by Holborn Group and Malaysia’s TA Global Bhd, the titanic Trump-branded tower will be Vancouver’s second tallest at 616 feet and it will include 147 hotel rooms and 217 residences, a spa by Ivanka, a Michelin-starred restaurant, and a host of other services catering to well-heeled residents: a champagne lounge, chauffeured Rolls Royce car service, private jet tours by London Air.

The pool at Trump Vancouver

As the tower has neared completion, the namesake’s political bravado has not gone unnoticed. Vancouver city councilors were incensed following Donald Trump’s anti-Mexican and anti-Muslim remarks. The tower, they argued, was an affront to everything Vancouver is supposed to stand for. Former Vancouver city planner Brent Toderian tweeted that the developers should remove Trump's name from the building, a sentiment shared by 56 percent of Canadians, according to a poll by the Angus Reid Institute.

Yet sales at the new tower would indicate otherwise. Since the project was announced, residences at Trump Vancouver have sold at a higher price-per-square-foot than any other property in Canada, averaging $1,610 per square foot. The current 214 units are sold out and the sub-penthouse closed for $6.74 million. Three exclusive top-floor penthouses will go on the market early next year.

The triangular tower, which was designed by the late Arthur Erickson, features a twisting profile intended to maximize the window exposures, offering residents views of the North Shore and beyond. The apartments are available in "Ivanka" and "Bianca" color schemes (essentially a dark and a light scheme), and they come with sleek fixtures from Gessi and Gaggenau; kitchens by Antonio Citterio; and custom Creson home automation systems to control motorized blinds, temperature, lighting, and home security.

Residences are designed to maximize ocean and mountain views

The tower is located on West Georgia Street in Coal Harbour, an upscale neighborhood along the Burrard Inlet where condos have a reputation for sitting empty. But Joo Kim Tiah, principal at Holborn Group, says the majority of apartment sales have been to Canadian buyers. “Ninety percent of the unit buyers were locals that provided either a Canadian passport or a permanent resident card,” he said, adding that the majority of investors have indicated they plan to live in their apartments.

The tower is located on West Georgia Street in Coal Harbour

In recent months, controversy has been mounting over skyrocketing real estate prices in Vancouver, as an increasing number of wealthy overseas investors take advantage of low interest rates coupled with a low Canadian dollar. Vancouver prices rose 2.2 percent in April from March, marking the strongest April since 2008, according to the Teranet-National Bank Home Price Index. Vancouver’s annual price gains were nearly 20 percent.

But demand from foreign buyers is only part of the equation. The mountains and ocean that surround the city keep supply in check, and Vancouver’s enviable lifestyle means people want to live there despite rising costs. “Vancouver has long been regarded as a top city for livability and quality of life,” says Donald Trump Jr., executive vice president of The Trump Organization. “Trump Vancouver will embody the incredible urban environment and hospitality.” And for now, Trump's name remains firmly embossed.

Images courtesy of Trump International Hotel and Tower Vancouver

The post Trump Tower Triumphs in Vancouver appeared first on Haute Residence by Haute Living.

In Champsaur’s view, savoir faire and individual flair is disappearing as a result of a globalized and increasingly formatted approach to design. And he is not alone in this belief. Designers I've spoken to in Asia, the Middle East and the U.S. also comment on the importance of specificity and traditional artistry, particularly at a time when design, like fashion, is global in its reach, broad in its appeal, and a hotel suite looks the same whether you're in Bangkok, London, or Dubai.

How can designers offset the banality that characterizes much of modern international style? Champsaur, who works on luxury hotels and private residences around France does so by eschewing mass-produced furniture and products and wherever possible, incorporating work of local artisans. At Hotel Vernet, he commissioned local artists to create custom furniture, textiles, and art pieces. The revamped entry area now features glass panels hand-brushed with blanc de Meudon. In the lobby, there is a large abstract carpet by artist Jean Michel Alberola, who also painted frescoes in the lounge. Champsaur also designed a one-off piece, a rippling marble bar that recalls the work of sculptor Jean Arp and restored the iron and glass ceiling originally designed by Gustav Eiffel.

Restaurant at Hotel Vernet, benches by Francois Champsaur, tables and chairs by Lievore Alther Molina and PHS, drawings and prints by Katrin Bremermann

“Paris is about the skills of our individual craftspeople,” Champsaur says, “the furniture-makers, the woodworkers, and the people who work with fabrics. In my small way, I try to stimulate their creativity and to revitalize their valuable expertise.”

Born in Marseille, Champsaur studied at the Ecole des Beaux-Arts in Paris before joining the Ecole nationale des Arts Décoratifs (ENSAD). After working with various architects and interior designer studios, he started his own firm in 1996 focusing on structural design, furniture, and interiors. He is also an avid art collector and collects art and sculpture from the 1950s and 1960s, a period that for him, represents the “freedom and audacity” that preceded mass manufacturing. “Art is what inspires me the most because it is much less formatted than design nowadays," he says.

Artistic accents are also characteristic of Champsaur’s residential work, which he approaches in the manner of designer and sculptor. For the recent renovation of a residence in Paris’ Trocadéro neighborhood, Champsaur was tasked with a complete overhaul of a 5,382-square-foot apartment that had not been renovated in 40 years. He balanced the client’s desire for a dramatic new look with respect for the original architecture by first removing false ceilings and walls. “I wanted to strip things back to basics by focusing on strong details which have more in common with architecture than interior design,” Champsaur says.

The Trocadero apartment, Paris. Doors in glass and polished steel by Pounat, bronze and corona table by Eric Schmitt, chairs by Konstanin Crcic

Much like a sculptor, Champsaur peeled back to reveal the essence of the space. Narrow corridors, thick walls, heavy doors and dark corners were replaced by lightweight walls and partitions, open sight lines, and minimal color. Champsaur replaced the parquet with long pine boards and concealed the wardrobes and TV behind wall panels he finished in an ombré color effect.

Leading to the kitchen, the bookcase was designed by François Champsaur for Pouenat

He also adapted the apartment layout to suit contemporary lifestyles. “The kitchen has become a living room in keeping with the current trend of cooking, socializing, and eating in a large open-plan space, the heart of the home,” he explains. The marble and brass accents throughout give the residence a luxurious feeling, but one that is offset by careful attention to light and proportion.

The same attention to architectural elements is seen at a much smaller apartment Champsaur designed at a former warehouse in Marseille’s La Joliette district. Here, he unified the space by using the same flooring throughout, and in the sitting room, he cleared all fixtures and storage units.

The Joliette apartment in Marseille

To counter balance the ceiling height, he selected just a few furniture pieces that are bold but low to the ground. These include the Sonia stool by Sergio Rodriguez, the Bluff coffee table by India Mahdavi, the Wiggle side chair by Frank Gehry, and a "Roue De Clement" mirror-light fixture by Pascal Michalou.

Though Champsaur loves to fill his hotels and homes with art, as a designer, he is focused on the art of living and considers carefully the way a space functions for inhabitants. “For both homes and hotels, I always focus on three essential elements: the fluidity of the space, the spirit of the place, and the modernity," he says. "I try to create a lifestyle, not just a style. I believe a person’s home should be as much of a haven as a hotel is.”

Images courtesy of Francois Champsaur

The post Parisian Designer Francois Champsaur Defends the Need for Daring Design appeared first on Haute Residence by Haute Living.

73 Chester Square

There are plenty of traditional touches: a drawing room with 11-foot ceilings, parquet floors, and views of Chester Square; a book-lined study; two original Louis XVI fireplaces; and Hopton stone flooring in the entrance hall, the same used in the Houses of Parliament. Yet the six-floor home also has an elevator, a home theater, a gym, and a temperature-controlled wine cellar that holds 500 bottles. There is also a roof terrace, accessed via a staircase from the family room, and off the kitchen there is a newly built mews house, which doubles as a garage.

Drawing Room, 73 Chester Square

Thatcher resided in the property from 1991 until her passing in 2013. Now, following a three-year, multimillion-pound refurbishment by developer Leconfield, the property has come onto the market through estate agent Savills for £30 million ($43.4 million).

Entryway, 73 Chester Square

“Such an eminent and rare property, in terms of location, renovation, and history, number 73 will have a truly widespread appeal to any buyer at this level of the market looking for an exceptional London home,” says Richard Gutteridge, head of Savills Sloane Street office. “If only the walls could talk, one could almost imagine Ronald Reagan and other heads of state sitting with Baroness Thatcher in her dining room.”

Today, Brits might be more likely to wonder what the Baroness would say on the matter of Brexit, were she still alive. The Iron Lady’s former lieutenants have been in disagreement over what stance she might have taken on the upcoming referendum. But one thing is clear: Uncertainty over Britain’s future in the EU is the latest in a string of events that have dampened London’s property market.

In the period from 2009 to 2014, London repeatedly made headlines for record- breaking sales of super prime mansions to wealthy buyers from Russia, the Middle East, and Asia, many of them in the city’s central neighborhoods, the so-called golden postcodes that include Belgravia, Knightsbridge, Kensington, Mayfair, and Holland Park. But since 2014, the market has slowed. “There are definitely headwinds in the Prime Central London market,” says Sophie Chick, associate director of residential research at Savills in London. Some of the headwinds have come in the form of taxes. A new stamp duty rate, introduced in December 2014, charges a 10 percent on properties worth more than £925,000 ($1.3 million) and 12 percent on those more than £1.5 million ($2.5 million). Leading up to the general election in the spring of 2015, the Labour Party proposed an additional annual “mansion tax” on homes valued above £2 million ($2.8 million). Developers and estate agents hotly debated the issue, while buyers sat on the sidelines. In the end, the Conservatives won a majority government, and the tax was never implemented, but the outcome failed to spur increased property investment.

“A lot of people thought we would see a big bounce back with no mansion tax, but actually the new rates of stamp duty had a bigger effect than we thought,” Chick says. “We’ve had a very slow market over the past 18 months.” Savills’ figures show prices in Prime Central London have come down six percent over the last year. Deal volumes have dropped as much as 40 percent. This year, buyers of second homes and buy- to-let properties will face another tax, a three percent stamp duty surcharge intended to level the field between investors and first-time buyers, which went into effect in April 2016. Some investors moved to close deals ahead of the new regulations, but Chick says the majority of discretionary buyers have a “wait and see” attitude ahead of June’s referendum.

Over the past year, major foreign investors in British property have been hit with their own setbacks: low oil prices in the Middle East, currency problems in Russia, a recession in Brazil, and stock market turmoil in China, all of which have contributed to few high-end transactions. In 2014, Mideast investors made up 15 percent of Prime Central London buyers; last year they made up four percent.

But geopolitical concerns around the world also reinforce London’s status as a safe haven, says Richard Cutt of property agency Knight Frank. “The wealth preservation appeal of prime London property among U.K. and overseas buyers remains significant, most recently against the backdrop of falling commodity prices.”

Brexit’s impact on the sterling could also bring some overseas buyers back to the market, notes Camilla Dell, managing partner at buying agency Black Brick. The currency lost six percent against the dollar in the first two months of 2016 and almost 20 percent in the last 18 months. “As is so often the case, opportunity is the other side of the coin to crisis and, if you add currency, moves to the seven to seven-point-five percent falls we’ve seen in prices in Knightsbridge, for example, then prices are more than a quarter lower in dollar terms than they were 18 months ago,” she says.

For the moment, properties in central London are selling when buyers feel they are getting good value―namely, a reduction in asking price. But while the Prime Central London market stutters, prices are still pushing higher in the rest of London amid a housing shortage. In December the average dwelling sold for £506,724 ($729,244) up 11.2 percent from the year before, according to Land Registry data.
Adding to demand are buyers that a few years ago would have focused exclusively on Prime Central neighborhoods. “London has become far less area specific and far more product-driven,” says Simon Deen, director of new homes at Aston Chase. “Property buyers are far more savvy than they once were, and the understanding of the areas of London where medium-term growth is still possible is far broader than it once was.” Deen recently launched sales at a new boutique development in Maida Vale, an affluent residential area in the northern part of Paddington, west of St John’s Wood. Known as “The Villas,” the project includes eight newly built homes set within a private, landscaped mews. (Mews is a term used to describe traditional carriage houses built around a yard or court.) Designed by DMFK Architects, the mews houses have three bedrooms, an open- plan kitchen, private terraces, and parking. Aston Chase is currently listing one Maida Vale property for £1,595,000 ($2,296,800).

Living room at the BBC Television Centre

Outside of prime London, developers are also building large-scale, mixed-use projects. To the west, White City is the site of a $10 billion overhaul in which developers hope to transform the area from a stark, largely commercial landscape into a lively neighborhood with 5,000
new homes, shops, and an office hub for media- related companies. As part of the revival, London developer Stanhope is converting the former BBC headquarters into luxury residences. Most of the apartments at the Television Centre will be inside the curving 1950s building shaped around a circular rotunda known as “the doughnut.” One-bedroom units start at £650,000, ($934,900) while the five penthouses, priced up to £7 million ($10 million), are located at the top of the building next to a Soho House rooftop pool and bar while overlooking a public piazza.

Bedroom at the BBC Television Centre

Tall towers are also proliferating in a city that was once defined by a more uniform, low-scale urbanism. One is a yet-unnamed tower at Canary Wharf by Herzog & de Meuron, which has been nicknamed the Rolling Pin because of its circular shape. Slated to rise to just over 718 feet, it will be one of London’s tallest exclusively residential buildings when completed in 2019.

Foster + Partners-designed South Quay Plaza

Another is a Foster + Partners-designed tower at the adjacent South Quay Plaza development. The 68-story tower will rise to 722 feet and be built at a 45-degree rotation to maximize water views and dual aspects. Each apartment will also have floor-to-ceiling glazing. Prices start from £599,950 ($862,900). As part of the project Berkeley Homes is also building a smaller 36-story tower and cafes, shops, restaurants, and a new dockside promenade.

Apartment at Berkeley South Quay Plaza

Canary Wharf is appealing to investors seeking a good lifestyle with easy access to the central business district―a new Crossrail, scheduled to run in 2018, will cut travel times to central London. Other emerging hotspots for new-build properties include the South Bank, where CIT Group is building the South Bank Tower, and the Nine Elms regeneration scheme, which includes the redevelopment of Battersea Power Station. Outside of London’s prime areas, Savills predicts price gains of about two percent over the next five years, while the Prime Central London is forecast to remain relatively flat. “Assuming we don’t leave the EU,” says Sophie Chick, “this year we anticipate no gross gains in Prime Central London. It will take time for the new tax to be absorbed in the market.”

This story is featured in the Summer 2016/Fall 2016 issue of Haute Residence magazine. Click here to flip through the digital magazine.

The post London Fog: The Real Estate Market Has Cooled in Prime Central London appeared first on Haute Residence by Haute Living.

But things have changed. The Indonesian government has thrown its weight behind Lombok, building a new international airport and investing $200 million in infrastructure. And with more of the island now accessible to visitors, developers have set their sights on Lombok’s south coast, where affordable land and increasing tourism offer promising investment potential.

Kuta Beach on Lombok's South Coast

“Right now land prices are a fraction of Bali’s,” says Tobi Doeringer, co-founder of Hong Kong-based development company Private Sanctuary who is developing home sites in Lombok. “On a prime plot of land, you can buy and build a villa for $400,000. In Bali, you pay over $1.5 million.”

While the market’s formative years were characterized by speculative land banking of uncertified hillsides and to a lesser extent, beachfront land, today, reputable developers in Lombok ensure the clearing of land titles and conduct a thorough pre-purchase review. They are also likely to know about the government’s latest plans for infrastructure development, the timeline for a new road, or the extension of fiber optic cables.

The first region to benefit from the new airport and new highway has been the area around Kuta, a village on the southern coast known for its powdery white sand beaches, mountain ranges, and surfing. Previously difficult for visitors to access, Kuta is now reached in 30 minutes via a new highway from the airport. Developments currently under construction include The Mandalika Resort––a large-scale, master-planned resort being developed by the Bali Tourism Development Corporation and the Indonesian government––a Club Med, a Pullman, and a Novotel.

And while prices remain well below Bali’s, they are rising steadily. In 2015, prices across the board were up 10 to 20 percent year-on-year and 300 percent over the four-year period from 2011, says Stewart Strong, managing director at Elite Havens property agency in Lombok. “As the market matures, sizes are coming down, and prices are going up,” he says.

So far, Strong says growth has been focused in certain pockets where localized infrastructure and developments are being constructed. The Mandalika Resort, for example, served as a catalyst for overall market growth in Kuta. Now, other catalyst projects are paving the way for further development, including Selong Selo, a luxury villa project in Selong Belanak.

Selong Belanak

Located a 25 minute drive from the International Airport, the upcoming Selong Selo Residences in the Jabon hills of Selong Belanak will offer a collection of contemporary villas and resort facilities, including a private beach club, a spa, and tennis courts.

Treetops Villa at Selong Selo, an upcoming resort in Selong Belanak

Investors can choose from several investment options, including subdivided plots with basic infrastructure and turnkey Kayu Villas that come fully furnished with two or three bedrooms and 2,443 square feet of open-plan living space. The project is already more than 75 percent sold with remaining villas ranging in price from $424,000 to $503,000.

Villa at Selong Selo

While the rental market is not as strong as Bali’s, lower land prices lead to an overall higher return. “You make about 80 percent of the rental returns you get in Bali, but for a tenth of the price, so you have a much higher return,” says Tobi Doeringer.

Plus Lombok’s tourism market is picking up. In 2015, there were more than two million arrivals, up from 1.3 million in 2013. The new airport now receives direct flights from Singapore and Kuala Lumpur and recently announced direct routes from Hong Kong and Beijing. And for those transiting through Bali, the days of unreliable prop planes are over. Garuda Indonesia now regularly shuttles 747s between the two islands.

Photos courtesy of Elite Havens and Selong Selo

The post Beyond Bali: Investors Set Sights on Neighboring Lombok appeared first on Haute Residence by Haute Living.

Known as the "Beach Estate," the property is currently listed with Sotheby’s International Realty for an undisclosed price and encompasses 18,000 square feet with several terraces, outdoor dining areas, and alfresco showers, all in complete immersion with the landscape.

There are no cars on the island; only golf buggies and a floating marina for boat arrivals. Looking seaward, it's nothing but shimmering turquoise water and the occasional dolphin. You may blink and wonder if you’ve landed in the Seychelles or the Maldives.

While Dubai races to build reclaimed islands, many of them populated by elaborate crystalline mansions and themed communities (the recently launched “Sweden Island” villas are topped with the inverted hulls of Viking vessels), Abu Dhabi’s offshore efforts appear relatively effortless. The UAE capital has more than 200 of its own naturally occurring islands, some of which are slivers of sandbanks; others are encircled by dense mangrove forests.

Zaya Nurai Island was developed by entrepreneur Nadia Zaal and designed by New York-based Studio Dror whose central concern was providing privacy to the individual homes on the sparsely populated islet. “I started thinking about the definition of luxury for a person who has everything,” designer Benshetrit Dror wrote about the project. “The essence of luxury on Nurai, we reasoned, is privacy. How could be build a community on the island while simultaneously providing solitude?”

The carpet motif proved a simple solution, and one that is native to the arts and crafts traditions of the Persian Gulf. “We perceive [the carpet] as a field upon which we can sculpt and manipulate landscape and topography to achieve suspended states of privacy,” the developers of Zaya said.

Set slightly back from the beach, the property has a large pool that bridges the terrace on one end and the sea beyond. Inside the home, living spaces are designed around a dramatic double story atrium with open sea views. There are six bedrooms in total, eight bathrooms, a games room, a cinema, an office, and a staff and chef quarters. Clean lines and airy living spaces characterize the villa interiors, which also feature marble flooring, built-in wardrobes, and smart home technology.

The villa also has a Jacuzzi, a steam room and sauna, and access to a range of resort amenities, including a spa and fitness center. There’s also a private helipad if the speedboat isn’t speedy enough.

In contrast to Dubai’s dramatic property cycles, the residential market in Abu Dhabi is generally characterized by slower, steadier growth, a stronger government hand, and careful project launches that keep risks of oversupply at bay. But the UAE capital has not proved immune to the market correction currently going on in the Arabian Peninsula. Abu Dhabi saw residential property price decline in 2015 by 1.1 percent during the year to end April 2015.

However, demand continues at some developments, particularly in the city’s “Investment Areas,” such as Saadiyat Island, Reem Ilsand, and Al Raha Beach. According to UAE property portal Bayut, moving further away from previous year's dormant second half, Abu Dhabi’s real estate market remained stable in the first quarter of 2016.

Images courtesy of Sotheby's International Realty

The post Desert Island: Waterfront Living in Abu Dhabi appeared first on Haute Residence by Haute Living.

An autonomous region of Italy, Sardinia is the Mediterranean’s second largest island. To the east, it is separated from the Italian mainland by the Tyrrhenian Sea; to the north, from the French island Corsica by the Strait of Bonifacio. Sparsely populated, the island is rich in cultural and geographic wonders. Prehistoric ruins date back to the Neolithic period; coastal caves open like underground cathedrals. And yet, compared with Mediterranean jewels, like Sicily and the French Riviera, Sardinia has largely remained outside of the spotlight, that is, with the exception of Porto Cervo.

The village of Porto Cervo was the brainchild of the British billionaire and imam Aga Khan, who first drew up the blueprint for the Costa Smerelda in 1962 with the goal of conserving a corner of the idyllic island and creating a marina at its heart. Khan, along with various other investors, commissioned architects and landscape designers such as Jacques Couelle, Luigi Vietti, and Michele Busiri Vici to create Moorish-style architecture that maintained continuity with the carefully preserved 14-mile stretch of crystal waters.

The village of Porto Cervo is located along Sardinia's Emerald Coast

The area and its pristine beaches, exclusive yacht club, and luxurious seaside villas quickly became a popular upper-crust hideaway, drawing celebrated visitors, among them King Juan Carlos of Spain, Catherine Deneuve, and Brigitte Bardot. Decades later, the Emerald Coast remains Italy’s flashiest summer getaway. Today, driving to the Polo Gold Cup or Porsche Parade, you might cross paths with Russian oligarch Roman Abramovich or the Italian political and media titan Silvio Berlusconi, both of whom own estates nearby.

“Costa Smeralda has become a favorite destination among international high net worth Individuals. They are drawn to the clear turquoise seas, the Yacht Club Marina catering to mega-yachts, golf clubs, and an array of sensational restaurants and shops,” says Julia Bracco, sales manager at Immobilsarda, an affiliate of Christie's International Real Estate.

Strict building regulations have ensured that villas along the Emerald Coast continue to offer maximum privacy. The Consortium, which every homeowner in Porto Cervo becomes a member of and which oversees security and maintenance, has restricted development to low-rise, low-density villas and apartments, most of which are secluded from view by pine trees.

One such property is "Villa Il Forte," currently listed with Sotheby's International Realty. The property price is undisclosed, though villas along the coast tend to sell for upwards of $60 million, says listing agent Luca D’Angelo at Sotheby’s International Realty's Milan office. “Unique and unmatched properties are the dreams of a lot of buyers who are willing to pay a lot of money. You cannot find them anywhere else.”

"Villa Il Forte" is listed with Sotheby's International Realty for an undisclosed price

Located on the north shore of Porto Cervo bay, the home was built in 1965 during the early stages of Costa Smeralda’s development. Positioned on the water, the villa affords views over the bay of Porto Cervo and the old marina, and yet, true to the principles espoused by architect Jacque Couelle, it is embedded into the landscape, surrounded by trees, and difficult to spot from the coast.

The 8,800-square-foot main house features a master suite and seven en suite guest bedrooms, a fully-equipped Boffi kitchen, and air conditioning throughout. There is also a heated swimming pool, a tennis court, a caretaker’s house, a garage, a small private beach, and a private dock long enough for a 60-foot boat.

The property includes a private beach and dockage for a 60-foot boat

As with most high-end, second home destinations, the majority of investors in Porto Cervo are buying into a lifestyle. But Luca D’Angelo says the rental market is strong and profitable especially for longtime homeowners. “On average, demand for rentals is strong, and especially when it comes to the very high-end,” he says. “Villas can be rented out in high season for crazy numbers––$1.2 million for the season.”

Italy’s market has been relatively flat since 2012, and prices have fallen about 10 percent off their peak in 2007. But in the heart of the Costa Smeralda, prices are not falling by much, with the wealthiest buyers competing for a limited supply of seafront properties.

Images courtesy of Sotheby’s International Realty

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Villa Cube 5 in Shanghai was redesigned by Naço Architectures

Seven years after its initial renovation, "Villa Cube 5" has come onto the market, the first property in Mainland China to be marketed globally by Christie’s International Real Estate. The property price is undisclosed, but nearby the former residence of writer Eileen Chang, a refurbished six-bedroom 1920s townhouse, is currently listed through Savills for $5.3 million.

Those unfamiliar with Shanghai often imagine a Blade Runner-like dystopia of endless urban expansion. And while the scale of the city can be overwhelming, there are pockets of reprieve, neighborhoods where the monolithic slabs of building break open, and smaller shikumen (or lane houses) and villas come down to the street on a human level.

This is particularly notable within Shanghai’s former foreign districts. In the period from 1843 to 1935, Shanghai was ceded to the British, and the city was carved into foreign “concession”, districts of imported architectural styles that gave the city its distinctive character and its reputation as the "Paris of the East". The former French and British Concessions are the largest and most prominent and feature quiet tree-lined streets, lane houses, stone villas, and leafy private gardens, many of which have over the last decade been transformed into contemporary havens by local and international design firms.

Architect Marcelo Joulia says he wanted to create a contemporary home that is at once high-tech and warm and welcoming. “The aim was to create a family home that was open to the exterior, but that was a refuge at the same time, protected from the elements and the aggressions of the city,” he says.

The aim was to create a refuge from the city

He also wanted the house to be luminous and airy. To capture as much light as possible, he built a protruding transparent cube on the top floor that touches the treetops. Next to it is an outdoor terrace with views of the grounds, while a small Japanese garden on the balcony floats in between the master bedroom and bathroom. Incorporating ambiguity between indoors and outdoors was also paramount. “When I open the door, everything inside is outside, and everything outside moves inside,” Joulia says. Each room of the house also offers a view of the exterior.

A small balcony floats between the master bedroom and bathroom

“Villa Cube 5 is defined by its serene atmosphere and accentuated by rare offerings such as a spacious private garden, swimming pool, and rooftop sauna,” says listing agent Catherine Lee with Shanghai agency Fultonex Realty. “All of the rooms are uninhibited, including the open kitchen which boasts fine flooring bathed in natural light.” Adding to the home’s modern conveniences are a fireplace, service kitchen, gym, private solarium, and two-car garage.

In addition to the Villa Cube 5, Naço Architectures has designed several hotel projects in Europe and Asia, including the Novotel Hong Kong and the Club Med in Yabuli, one of China’s first ski resorts. The multidisciplinary practice also lends its eye to commercial spaces and industrial design.

Cross-cultural work suits Joulia, who has moved between several continents in his lifetime. Born in 1958 in Cordoba, Argentina, he arrived in France with his family in 1976 after fleeing the repressive Videla government. “We had to leave the country within 24 hours,” he recalls. “My exile has obviously influenced my way of looking at the world and my profession as an architect––the most international possible, without frontiers.”

Images courtesy of Christie's International Real Estate

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I first met Hadid in Hong Kong in 2008 at the unveiling of the Mobile Art Pavilion, a movable museum she created for Chanel. The spaceship-like container had been assembled on a vacant lot across from the Mandarin Oriental Hotel and I was among a group of journalists who gathered at the entrance, waiting to accompany Hadid on her initial walk-through.

Though she was late, she approached the pavilion slowly, deliberately, dressed in a billowing black cape, her hair strewn wildly. Accompanying her was Karl Lagerfeld, who appeared gangly, weightless at her side. This was before the term "starchitect" had entered the standard vocabulary. The crowd flocked around her nonetheless. The pavilion’s undulating corridors housed a series of artist installations inspired by the Parisian fashion house, but it was clear that the enveloping container was the star attraction.

At the time, China’s economy was booming and super modern architecture was a symbol of the country’s sparkling progress. Hadid’s bold designs were eagerly embraced. Her first major commission was the Guangzhou Opera House, a dramatic building cluster sometimes compared to a cluster of rocks in a riverbed. It opened in 2011 to become China’s third largest theater. Then, in 2012, she completed Beijing’s Galaxy Soho, a large retail complex with four interconnected domes clad in flowing bands of white aluminum and glass.

Guangzhou Opera House

As Hadid’s fame grew, so did the controversy surrounding her buildings, many of which were expensive and difficult to build. Her uncompromising attitude also became a focal point in the media where the words "difficult" and "diva" were routinely attached to her name. As a woman in a profession still dominated by men, her idiosyncrasies and ambitions were more heavily scrutinized.

At the time of her death, Hadid’s success had reached dizzying heights. She had large-scale projects underway on almost every continent and counted a Pritzker Prize and RIBA medal among her many accolades. And yet, many of her schemes, including her residential designs, have yet to be realized.

One of the first large-scale residential projects to be built was D’Leedon. Located in Singapore in a coveted residential area flanking the Botanic Gardens, the project’s seven glass and concrete buildings grow larger as they climb in a form that is meant to suggest a flower with petals. The residences range from 592-square-foot, one-bedroom apartments to garden villas of more than 8,000 square feet. A 1,600-square-foot apartment lists for around $2.3 million.

D'Leedon, Singapore

Hadid also entered the American market in the post-recession building boom. In Miami’s Brickell neighborhood, she designed 1000 Museum, a sinuous condominium tower with an outer shell made of glass-fiber reinforced concrete, an exoskeleton that allows interior floor plates to be almost column free. The bottom two-thirds of the tower has two units per floor and the upper third has full-floor units. There is also a palatial duplex penthouse with a private indoor pool and access to the building’s helipad. Prices range from $5.7 million to $49 million.

1000 Museum, Miami

In New York, construction is underway at 520 West 28th Street, a curved glass and steel structure Zaha Hadid designed at the High Line. The building’s rippling form continues inside the residences where Hadid worked with Boffi to create curvilinear kitchen islands. Building amenities include automated underground parking and a robot-operated storage facility. The 39 residences range from 1,691 square feet to 6,618 square feet with two- to five-bedroom layouts and prices from $4.95 million to $50 million.

520 West 28th Street, New York

Construction is also underway at Grace on Coronation in Brisbane, Australia, where Zaha Hadid Architects designed a residential tower project for the Toowong riverfront. The proposed development comprises three sculptural apartment towers and eight riverfront villas, as well as landscaped public parklands. The towers feature a multi-layer façade design with curtain wall glazing overlaid with a quilted diamond pattern. Their tapering shape is intended to minimize their footprint and open the riverfront to the public.

Grace on Coronation, Brisbane

Recently, Zaha Hadid Architects also unveiled plans for a housing project in Monterrey, Mexico. The initial brief called for 12 residential towers, but Hadid opted for a series of wave-shaped, low-rise blocks arranged around a public park to bring a community focus to the design. Located in the Huajuco Canyon, Esfera City Center will include 981 units, ranging from studio lofts to four-bedroom apartments.

Esfera City Center, Monterrey

In Rio de Janeiro, Brazil, Hadid's studio is also working on Casa Atlantica, an 11-story luxury condominium on Avenida Atlântica that faces southeast towards Copacabana Beach. Its design references the nearby Burle Marx-designed promenade and the city’s rich modernist heritage.

Casa Atlantica, Rio de Janeiro

As these buildings reach completion, a select few will have the chance to experience what it feels like to inhabit Hadid’s curvaceous spaces. The rest of us will continue to marvel at her buildings from afar.

Photos courtesy of Zaha Hadid Architects

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In America, golf has suffered a series of setbacks in recent years: the real-estate market collapse, an oversupply of golf courses and waning interest in the game. The property markets in Spain and Portugal were also heavily impacted by the recession, (in Spain prices dropped 40 percent from their peak, and similar dips occurred in Portugal) but leading golf resorts have bounced back quicker than the overall markets.

In Spain, the flight to quality has meant that while time-shares and large golf developments in the south continue to struggle, there is still a drive for high-end golf villas on the Costa Brava, a coastal region of northeastern Spain known for its moderate climate, unspoiled beaches, and medieval villages.

The PGA Catalunya Resort in Costa Brava, which offers contemporary properties located along two 18-hole golf courses has recorded steady sales since launching in 2011, and 2015 was no exception, says Tom Maidment, a partner at Lucas Fox Costa Brava. “With property prices at a seven- to eight-year low, a weak Euro attracting buyers from outside the Eurozone and increased activity from national buyers, there was a good level of sales activity in the region,” he says.

Designed in collaboration with architecture studios in Spain and the U.K., the contemporary golf apartments, townhouses, and villas are positioned overlooking the fairways with glass walls and cantilevered volumes offering views of the course.The three-bedroom townhouses start at $795,000 and feature 3,000 square feet of living space over two levels with access to communal gardens and a swimming pool. The villas are larger, ranging up to 4,300 square feet on a half-acre plot with prices starting at $1,175,000.

Golf is certainly a draw for many investors, especially as PGA Catalunya Resort continues to gain traction on the international stage. The resort has twice been voted the best new golf resort in Europe and hosted the European Tour’s Spanish Open in 2014. It is also bidding to bring The 2022 Ryder Cup to Spain. But Maidment says the sales success is about more than the fairways.

“Most buyers on the PGA de Catalunya resort are making a lifestyle investment and buying a second home,” he says. “They are attracted by the tranquility, attractive surroundings, security, and the sense of community.” The resort’s location 25 minutes from the beach and 37 minutes from Barcelona via the new high-speed rail link is also a draw.

In neighboring Portugal, properties along the Algarve’s Atlantic coast have also proven resilient. In particular at Quinta do Lago, Catalunya’s sister golf resort, where outdated Moorish mansions are being replaced by contemporary showpieces. The resort has four championship courses on its 2,000-acre estate as well as a Paul McGinley Golf Academy. The resort’s older properties are modeled on traditional quinta Portuguese farmhouses, but increasingly the trend is toward contemporary design.

San Lorenzo North, the latest portion of land to be developed, is typical of the new-look Quinta do Lago. The homes feature flat roofs, large windows, multilevel outdoor spaces, swimming pools, and landscaping features such as bonsai olive trees. Villas range in size, but some have up to five bedrooms and include a home spa, gym, and games room with prices breaching the $9 million mark.

"The Portuguese property market certainly felt the global financial crisis, however, at Quinta do Lago we were lucky to not see much of a change in demand or a drop in prices,” says sales director Jamie Robinson. Over the past two years, sales have been particularly strong, he says, boosted by new non-habitual tax regime and investment incentives programs, which have brought in buyers from new markets, including France, Sweden, and South Africa.

In addition to golf, buyers are drawn to the lifestyle and scenic surrounds––Algarve is known for its stunning beaches, and the coastal location is bounded by the Ria Formosa Nature Reserve and by the Atlantic Ocean. “Quinta enjoys over 310 days of sunshine per year and is also one of Europe’s number one holiday destinations,” Robinson says. “All of the plots have amazing views over the golf course and down to the ocean.”

Photos courtesy of Lucas Fox and Quinta do Lago

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Architect Henry Ponce contemporized this 1964 villa north of Merida's historic center

Today, the interior spaces are flooded with light. The walls and floors exhibit natural textures of grey and white marble and stone. Slatted shading and steady cross breezes mean air conditioning is rarely necessary. Wide sliding glass doors open to the terrace and pool, where green foliage and sculptural art pieces abound.

The master bedroom features walls of grey and white marble and sand-colored stone floors

Located an hour from the Gulf of Mexico in the Yucatan Peninsula, Merida isn’t well known outside of the country, and its architectural endeavors are largely overshadowed by Mexico City. And yet, the homes designed by H. Ponce Arquitectos are on par with premier international tropical properties found in California, Singapore, or Ibiza. “Most people who grow up here have a strong sense of architecture,” Mr. Ponce says.

This is likely the result of the city’s intriguing blend of Mayan, Spanish, and French influences. Merida’s wide boulevards are lined with stately Belle-époque-style houses, some built from the stones of Mayan temples, while the smaller homes in city center are painted bright hues of blue, yellow, and a rusty red.

A building facade characteristic of Merida's historic center

For a brief period at the turn of the 20th century, Merida experienced a boom from the production of henequen, a strong fiber obtained from the leaves of a tropical American agave plant. Plantation owners lived much like the silver barons in mountainous Mexico. But when the industry declined after World War I and amid the turmoil of the Mexican Revolution, many who had made their fortune simply abandoned the palatial homes they could no longer afford to maintain.

In recent years, Merida has experienced somewhat of a renaissance. More and more people have moved into colonial homes and refurbished them, restoring period details and capitalizing on the grand proportions, the high ceilings, arches and columns, and quiet inner courtyards.

Henry Ponce is front and center in this trend as he is also a licensed Realtor. “A lot of people come to Merida to look for houses and they want an architect’s opinion,” he says. “Often they ask me to help find something that can be renovated.” Typically only one or two of the original rooms are preserved in an overhaul, but the gap between old and new affords interesting design possibilities. “I like to put something very modern with the other elements that are true to the history. I like the blend.”

At the "Kehoe House," a regal turn-of-the-century property previously owned by a wealthy henequen baron, Ponce maintained a grand, colonial feel by refurbishing the original tile floors, moldings, and iron railings. The only major structural changes were an expanded master bedroom and a pool in the courtyard.

"Kohoe House" features refurbished tiles and crown molding

For "Nemer House," Ponce made the meeting of old and new more pronounced. In the existing part of the home he left the brick walls exposed, kept the original stenciling and repaired the molding, and in the back of the property, he added a modern courtyard and pool. To mark the transition between the historic and modern, he left a gap, covered in glass, between the house and the courtyard. The two parts of the home function as one, and yet, incorporated in the design is a respect for their respective autonomies.

Henry Ponce added a modern courtyard and pool to the "Nemer House"

“Poncified” is how Merida locals call the renovated properties, referring to the contemporary touches and prolific use of marble and glass. Finding a stylistic balance of old and new is only part of the design challenge, however. Many of the houses in Merida’s historic center are narrow and long, and Ponce must find ways of bringing in light and making the spaces functional for today’s lifestyles.

For the "B+H 45 House," which Ponce says was “basically a tunnel” when he started, he opened up the space using skylights and living room garden. A wide wall of windows leads from the master bedroom to the balcony overlooking the pool and ground floor terrace, which can also be reached by a spiraling outdoor staircase. “Working with existing properties means there are always constraints,” he says. “The job is finding the best solution within those constraints.”

The architect added skylights and a living room garden to the "B+H 45 House," which is narrow and long

Photos courtesy of H. Ponce arquitectos

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194 Roxborough Drive is listed with Sotheby's International Realty Canada

Known as the "Integral House," the property was built by its former owner, the late mathematician James Stewart, who commissioned Toronto-based Shim-Sutcliffe Architects to design a building inspired by the beauty of calculus. The home they conceived is dominated by the geometry of a curve, a motif that is manifest most strikingly in an undulating curtain wall that encases the upper levels of the house. Vertical oak-clad blades punctuate the rippling façade between panes of glass that offer varying views of the surrounding trees.

The home is clad in an undulating glass curtain wall

Dr. Stewart, a mathematician who authored a groundbreaking series of calculus textbooks was also a musician and wanted his property to accommodate guests for intimate musical performances. To this end, the architects created a tall, wide, central room with a balcony and a curving glass wall facing the ravine, which became the principal setting for musical events and gatherings.

The project took nearly a decade to complete and went on to win a Governor-General’s Medal for Architecture (Canada’s equivalent to a National Medal). Then, following Dr. Stewart’s death in 2015, the home was listed for CAD $22.9 million ($17. 3 million).

The property has a relatively understated two-story street front, but expands over five levels on the inside, descending down the slope of the ravine across 18,000 square feet of living space. The four bedrooms are located on the upper floors, while the lower level houses the pool area, which has retractable windows for open-air swimming, as well as a gym, sauna, and powder room. From here, the property opens up onto a leafy patio, or a snowy one, depending on the season.

In consideration of the cold Canadian winters, the property features a heated driveway, heated walkways, and heated flooring throughout, as well as three wood-burning fireplaces. There is also an elevator serving three levels and a three-car garage.

“What is amazing about this home is that it is set in the ravine,” says Sotheby’s listing agent Paul Maranger. “Not at the edge of the ravine, nor set back from the ravine, which is the practice in Toronto, but literally in the ravine. It's like living in a glass tree house."

The bedrooms are located on the upper floors

Toronto is Canada’s business and financial center and the country’s largest city with a population of roughly 2.6 million, yet it feels more like Melbourne than London or New York. There are occasional pockets of urban density, but the city is comprised largely of a series of neighborhoods that spread out across the northwest shore of Lake Ontario.

Rosedale, where the Integral House is located, is an upscale neighborhood with stately Victorian homes that houses many of the city’s top executives. It also offers an easy commute to downtown. “What distinguishes Toronto from other cities on the Eastern Seaboard of the United States is that we have single family detached homes, some on 2-plus acres that you can drive to the downtown core from in less than 20 minutes,” says Michael Kalles of Harvey Kalles Real Estate in Toronto.

Toronto’s housing prices have risen dramatically in recent years and 2015 was no exception. Figures released by the Canadian Real Estate Association show the price of the average single-family home in Toronto jumped 15 percent this February compared with the same time last year. Some analysts have warned of a possible price correction, but Paul Maranger at Sotheby’s International Realty Canada believes fundamentals are still strong.

“Income and employment are strong. Interest rates are low. Unless one of these variables changes, we don't expect prices to drop.” Plus, he says, Toronto has limited land on which to build, and this keeps supply in check. “Unlike many other cities, we are landlocked by Lake Ontario.”

The city’s housing market, particularly the high-end segment, has also been boosted by interest from overseas investors, buyers from the Middle East, Russia, and China who are drawn by the country’s safety, good schools, clean air, and prices that are relatively affordable compared with other international centers. Given the Canadian dollar’s recent slip, largely due to declining oil prices, this demand is likely to continue.

Photos courtesy of Sotheby's International Realty Canada

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In Brazil, Kogan is known for his mid-century-inspired villas that seamlessly blend indoor and outdoor living. Here, his style is adapted for beachfront living, with expansive indoor and outdoor living areas and cantilevered volumes that protrude over the infinity pools. The villas feature streamlined concrete slabs punctuated by natural stone masonry and movable glass walls that expand and contract to suit the occasion.

Villas feature cantilevered volumes and flexible living spaces

“It is a dear project to our office because of the opportunity to work in one of the most fantastic places on the planet: Ha Long Bay,” Kogan says, though he admits he was intimidated at first to be working in the stunning UNESCO heritage site.

Kogan’s team worked on carefully preserving the views of the villas, which range in size from 7,082 square feet to 11,786 square feet and have several outdoor lounging areas, a full-sized infinity pool, and access to the waterfront beyond. The upper levels contain spacious master suites that overlook the bay.

Marcio Kogan carefully preserved the villa views

Since the mid-1980s, comprehensive political and economic reforms have transformed Vietnam from one of the world’s poorest countries into what the World Bank hails as a development success story. And the country’s property market is poised to prosper. “Improving economic conditions have led to a rise in the fortunes of Vietnam’s property market, with urbanization, tourism and retail development leading the way,” says Neil MacGregor, managing director of Savills Vietnam.

Caye Sereno follows in the footsteps of other luxury resorts such as Six Senses Residences Con Dao and the Nam Hai Hoi An that have in recent years put Vietnam on the map for well-heeled travelers and investors. As developers focus more on design, landscape, facilities, and management services, this in turn brings more confidence to buyers, MacGregor says.

Legal reforms are also drawing more international investors to Vietnam. The Amended Housing Law, which took effect in July 2015, effectively gives foreigners the same rights as Vietnamese to sub lease, mortgage, trade, and inherit property. And it makes the property market more competitive within the region. Investors are attracted to Vietnam’s natural beauty and cultural offerings, but also by prices below those of other regional hot spots.

“While other countries such as Indonesia and the Philippines are at the top of the market cycle, Vietnam is only around 12 months into the market recovery phase,” says MacGregor. “Foreign developers and investors are showing greater interest in the Vietnam real estate market and we see this trend continuing.”

The villas at Caye Sereno start at $3.5 million and include access to a gym and yoga studio, tennis court, and water activities center. Developers Jen Tuan Chau Co Ltd are also building a 27-hole golf course.

The site, which is located at the southern edge of Tuan Chau Island, is accessed through Hanoi with flight connections available from Singapore, Hong Kong, and Guangzhou. But remoteness is part of the project’s appeal. “Caye Sereno is a unique proposition for Vietnamese and international luxury property investors,” says Matthew Powell, director of Savills Hanoi. “There are many beach villas in the region but this location and the views uniquely stand out. The villas themselves have been designed and constructed to showcase the natural environment.”

Images courtesy of Savills Hanoi

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Either way, the arrival is sure to be dramatic. The resort, which is nestled into the rugged folds of the Al Hajar Mountains, includes a marina, a Shangri-La hotel, a private beach and a collection of private homes. The first private properties launched back in 2009, but the resort recently released five additional villas and 11 townhomes with prices starting around 1.5 million Omani Rials (US $3.89 million).

Barr Al Jissah is located on the north east coast of Oman

The new townhomes are located on a hill above the resort, while the larger, two-story villas are perched cliff-side. These are more than 7,400 square feet in size and feature double-height ceilings, SieMatic kitchens, marble floors and Jacuzzi’s in the bathroom, an outdoor terrace, and a private granite swimming pool.

The cliff-top villas are perched on the bluffs overlooking the ocean

Developers also plan to build marina apartments. “These apartments will overlook the Barr Al Jissa private marina, which offers yacht owners the ideal base to explore the Omani coastline,” says Barr Al Jissah, CEO of Firas Matraji.

Property owners receive preferential treatment for berth allocation

Oman has all of the ingredients of a luxurious second-home destination: warm, sunny winters; stunning beaches and mountains; and measured approach to development. But until recently the market was largely untried. Barr Al Jissah launched in 2006 to become the country’s first Integrated Tourism Resort (ITC), a property investment category that is open to non-nationals and part of the government’s plan to diversify Oman’s economic base and reduce its dependence on oil revenues.

The plan, which grants overseas buyers automatic residency rights, has drawn an increasing number of international investors to the country. Oman’s expat population rose by 12.6 percent per annum from 2004 to 2014, according to the National Centre for Statistics and Information.

While Dubai and Abu Dhabi routinely make headlines with their glistening towers and fabricated offshore islands, nearby Oman offers a quieter appeal. In place of air-conditioned shopping malls and artificial harbors the country has empty beaches, expansive deserts, crystal clear waters and a handful of luxury hotels that offer peace and pampering in remarkably isolated settings. At Barr Al Jissah, homeowners are given a three-year membership to the Shangri-La Resort and Spa and have access to the amenities at the three on-site hotels, including the spa, fitness center, fine dining, and private sandy beaches.

The resort includes a private beach

Prices in Oman are lower than other UAE markets, and the residential sector has proved more resilient than in Dubai, where new build supply and speculative off-plan capital flows lead to steep home value cycles. “Oman offers a more stable capital market with less risk to its investors and steady profits, and as a result, provides a sanctuary from other oversaturated and overpriced property markets,” Firas Matraji says. “In addition, the country is politically stable and there are continuous efforts made by the government to invest in infrastructure.”

The drop in oil prices has put a damper on Oman’s economy, though growth is set to continue this year according to a recent report from U.K. consultancy Cluttons. Property sales also remain active, particularly within ITC developments where a lack of fresh supply is putting an upward pressure on prices. But Faisal Durrani, head of research at Cluttons, says all of this is subject to the ability of the economy to sustain the current level of business activity against challenging headwinds.

At Barr Al Jissah, foreign buyers currently make up the majority of sales––around 40 percent from the U.K. and the rest from Europe and around the Gulf region.

Images courtesy of Barr Al Jissah

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"The Grid House" was designed by Forte, Gimenes & Marcondes Ferraz Arquietetos

FGMF designed the property for a client who sought privacy but also wanted the home to interact with the scenic surroundings. As a solution, the architects chose to build the main house on a section of the 40.5-acre estate that forms a small valley. This way the home was sheltered from winds and offered privacy being close to the forest.

The property can be accessed from above and features open walkways and terraces

The location is also the natural point where two walking paths cross: one that leads into the heart of the forest and one that leads to the top of a hill and offers sweeping views. This tension between peak and valley, shelter and open-views is one of the organizing principles of The Grid House and allows the structure to blend into the site. Suspended above the valley and merging into the hills, the house becomes the land and the land becomes the house, creating a new landscape.

“I believe that there is a complete symbiosis between the building and the surrounding nature, such that one cannot live without the other,” says Rodrigo Marcondes Ferraz, a partner at FGMF. “The use of a mixed structure that fuses wood, steel, and concrete and weaves itself into the tall surrounding pines, the wide glass walls, the independence of the spaces connected via external passageways, and the exploration of the amazing visuals of the region make this project unique.”

A separate leisure pavilion is located on top of the hill with sweeping views of the valley below

The 21,500-square-foot main house is designed in the form of two overlapping grids. Modular timber beams snap together to form six bedrooms, the master suite, the living areas, and a large kitchen. The grid design enables a functional arrangement of rooms in which the living areas and master bedroom are in the same module, and the remaining three modules are reserved for guest or children’s rooms. In consideration of the naturally damp climate, the architects built the one-story home on pillars.

The architects built the one-story home on pillars due to the damp climate

The design approach is atypical for Brazil says Luiza Cazarin, a broker with AxPe Imoveis Especiais, an affiliate of Christie’s International Real Estate based in Sao Paulo who represents the listing. “It is a more contemporary concept. Brazilian homes are generally much more centralized, keeping the family close together. This home is composed of various modules, which are almost separate apartments, and very open.”

Grids that are not used for living areas are used as walkways or even left completely open, allowing residents to view the ground below and the surrounding forest.

“The open areas and harmonious merging with the raw Brazilian nature surrounding it evokes a powerful proximity to the Brazilian land,” Cazarin says. She believes the home will appeal to buyers interested in owning a second home in Brazil who have a taste for nature, art, and architecture.

Brazilian real estate currently presents a bargain for many international investors. The Brazilian Real declined more than 30 percent against the dollar in 2015 amid the country’s worst recession in more than a century. The housing market in South America’s largest country experienced exponential growth between 2008 and 2012, with residential property prices more than doubling in Sao Paulo and nearly tripling in Rio de Janeiro, according to Capital Economics research firm. But over the last couple of years the market has slowed, due in part to overdevelopment and to declining oil prices, which has hampered the country’s currency and has slowed homebuyer demand.

Images courtesy of AxPe Imoveis Especiais/Christie’s International Real Estate

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Demand is also up at European resorts, particularly in France and Austria where a weaker Euro has opened up investment opportunities for U.K. buyers, and stock market-wary investors are turning to property gold. “There is a move towards property assets by High Net Worth Individuals, frustrated with low bank deposit returns and nervous equity markets,” says Jeremy Rollason, managing director of Alpine Homes and exclusive associate of Savills for the Swiss, Italian, and Austrian Alps.

Skiers have long debated the merits of North America’s champagne powder versus the Alpine après ski, but when it comes to prime properties, how do the options compare?

Generally, Europe offers a larger number of resorts and higher property prices. The Alps are host to 82 percent of the world’s largest ski resorts and attract 44 percent of global ski visitors annually, according to the Savills annual ski property index. Courchevel 1850 is the region’s most expensive, with prices averaging $3,278 per square foot, followed closely by Gstaad and St Moritz.

Courchevel 1850, Six Senses Residences

Part of the world’s largest ski area, the 600-kilometer "Les Trois Vallees," Courchevel 1850 caters to Russian oligarchs and wealthy Parisians with its plush hotels, Michelin star restaurants, and private jet access. Convenience and amenities are essential to luxury properties here, and developers continue to raise the bar. At the new Six Senses Residences, Courchevel owners have access to a Six Senses Spa, a gym, and an indoor pool and private ski-in-ski-out concierge service.

Six Senses Residences Courchevel

The project, which is billing itself as the “first fully-serviced residential development in Courchevel 1850,” is priced from $2.1 million to $13.8 million and includes one- to three-bedroom apartments and a selection of duplex penthouses. These range up to 3,200 square feet in size with five bedrooms, a private wine cellar, and triple aspect balconies overlooking the slopes. The residence interiors are designed by Alain Foeillet and feature custom furnishings and materials that blend contemporary design with a traditional alpine aesthetic.

Interiors are designed by Alain Foeillet

On this side of the pond, land is more readily available than in tightly packed European resorts; but for a country of its size, the US has relatively few resorts of international renown. Vail stands apart as an ultra-prime resort on par with the top European competition at $2,636 per square foot. (Aspen is number two in America, but its sprawling mountain estates don’t pass the $1,377-per-square-foot mark.)

Vail’s mountain village benefits both from demand among a large domestic high net worth community and a compact, walkable resort design inspired by European ski villages. “We have a narrow valley and everyone’s competing for properties in a small window, which creates scarcity,” Stockton says. Current prices remain below their 2007 high, but recovery has been driven by the top end of the market, and in core areas, prices have in some cases exceeded their pre-recession levels.

Vail's narrow valley keeps supply in check

As in Courchevel, the most coveted properties in Vail have easy access to the slopes and a full roster of amenities. Stockton is currently listing a two-level penthouse at the new Ritz Carlton Residences Vail for $7.79 million. The property features 4,611 square feet with four bedrooms, five bathrooms, three balconies, and sweeping valley views. Worth Interiors furnished the residence using warm grey, taupe tones, and accents of Colorado sky blue for a mountain modern look.

Penthouse living room at the Ritz Carlton Residences Vail

The penthouse also includes a den and game room as well as a secondary living area on the upper floor with its own junior master suite. Residents enjoy access to a fitness center, pool, hot tub, and the Ritz-Carlton shuttle service to Vail Village.

Bedroom, Ritz Carlton Residences Vail

Though January sales have been slow, Stockton remains bullish about the market moving forward. “I believe the market will show continuous strength for the next 18 to 24 months. Our supply has decreased, and the desire to own in Vail and Beaver Creek continues to show no signs of letting up.”

Savills’ Jeremy Rollason believes market dynamics in the European Alps will depend to an extent on currencies and other macro economic factors, such as interest rates and growth rates. But, "ceteris paribus" he says, “we envisage two to three percent per annum capital appreciation on average over the next two years, with some resorts perhaps surpassing this.”

Images courtesy of The Stockton Group and Savills

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But while Mitte must adjust to its shiny new veneer, not all neighborhoods are fraught with such existential tension. Charlottenburg, the affluent neighborhood located near the ambassadorial district, continues to relish in its historic grandeur. The western district is what Thomas Wolfe once referred to as “Europe’s biggest café.” Leafy boulevards are lined with luxury boutiques, theaters, and Parisian-style cafes and the buildings that survived World War II feature grand proportions with 12-foot ceilings, tall French-style doors, and cast iron railings.

This is where Berlin’s most expensive penthouse is currently listed for $9.5 million. The residence spans the top floor of Eisenzahn 1, an upcoming luxury building developed by Ralph Schmitz that features a palatial façade complete with pilasters and cornices, a throwback to Charlottenburg’s regal, turn-of-the-century style. The three-bedroom penthouse encompasses 5,035 square feet with terraces to the east and west that extend the full length of the façade. There is also a roof garden with 360-degree views of the city.

The penthouse at Eisenzahn 1 has private terraces and access to the roof garden

The living areas feature 12-foot ceilings and, characteristic of Berlin’s traditional altbau apartments, the residence also includes an enfilade of more than 131 feet. This architectural feature, common in European architecture from the Baroque period onward, contains a regal suite of rooms aligned with one another along a single axis providing an impressive line of sight through the length of the residence.

The living areas in the penthouse feature 12-foot ceilings

Other features include a separate staff entrance with direct lift access, wood-burning fireplaces, and a kitchen fully equipped with appliances from Gaggenau. As extravagant as the penthouse might be, it is still relatively understated by American standards. “Our family has been building in Berlin since 1864, and we have always focused on craftsmanship," states Daniel Schmitz, director of sales and marketing. "It’s not about show. It’s about attention to detail."

For the building interiors, the developers partnered with Bottega Veneta. The Italian luxury brand is furnishing the public areas, the lobby and loggia, and the show flat. Schmitz believes the proximity to good schools and leisure facilities, as well as the boutiques and theaters will continue to draw affluent buyers to Charlottenburg. “After the wall came down everyone thought the interesting part of the city would be Mitte. But now West Berlin is on a come back,” he says.

Over the last decade, increased migration to the city, a growing tech center, and increased demand from foreign buyers has put an upward pressure on prices. New-build apartment prices in the city rose by 79 percent between 2007 and the first quarter of 2014, according to data from the Institut der Deutschen Wirtshaft. In 2015, property values rose by 10 percent in greater Berlin, with central Berlin reporting gains of 12 percent.

Still, prices remain well below other European capitals like London or Paris, and this is a draw for international buyers. “We have seen an increase in foreign clients, from almost 70 percent coming from abroad in 2014, to 80 percent today,” says Peter Rabitz, director of premium real estate at Zabel Property Group in Berlin. His company specializes in the sale of luxury condominiums in Berlin Mitte but also represents key luxury developments in the city’s western districts. At Eisenzahn 1, which is scheduled for the completion later this year, 80 percent of apartments have now sold to a mix of local and foreign buyers.

Images courtesy of Ralph Schmitz

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On a coveted stretch of coastline where Alila, Bulgari, and Banyan Tree have resorts, Karma Kandara recently launched 12 new villas designed by Woods Bagot. The three-bedroom residences are priced at $1.3 million and feature private gardens, private pools, and access to the resort's facilities and services. The property ushers in a “new age” of luxury says Kandara Group chairman John Spence: “For those who place value on wellness, relaxation, and attentive yet discrete service all within a stylish environment.”

Artist impression: Karma Kandara three-bedroom villa

Further north on a plot of jungle forest near the Canggu Club, Elite Havens has listed a 7,500-square-foot, Zen-inspired villa for $2.55 million. The five-bedroom, five-bathroom home features open-plan living, custom wood furnishings, a lap pool, and a small river that runs the length of the grounds.

This villa near Bali's Canggu Club is listed with Elite Havens for $2.55 million

Bali’s reputation as a magical hideaway started long before Elizabeth Gilbert published her amorous adventures in 2006’s “Eat, Pray, Love,” but over the past decade, development has accelerated, particularly in the south of the island, and prices have risen dramatically. In 2014, home prices in Bali rose 15 percent, making it the third fastest growing, upscale, second home market behind New York and Aspen, according to real estate firm Knight Frank.

Yet, in the last year as a result of a slowing economy in the commodity-rich nation, Indonesia’s Rupiah dropped 11.8 percent against the U.S. dollar, and Bali’s property market has softened. According to Bali-based brokerage Exotiq Properties, average sales have prices dropped from $750,000 in 2014 to less than $500,000 at the end of January 2016. At the end of 2015, prices in the south of the island dropped an average of 15 percent to 25 percent with the $1 million plus segment showing the largest slow down.

Foreigners, particularly Australians and established expats in nearby Singapore and Malaysia, drive the sale of luxury villas in Bali, despite tight restrictions on foreign property ownership. Under Indonesian law, foreign nationals cannot directly own freehold land. Instead, land is often transferred to government control, and the buyer is given "Hak Pakai," or the right to use the property for up to 80 years. In other cases, buyers will arrange a long-term lease directly with the owner of a property.

Developers had high hopes about the government’s plan to liberalize property ownership for foreigners. But the long-awaited ruling signed by Indonesian president Joko Widodo in December is not strikingly different from the previous rule. The regulation loosens the definition of residency and extends the term of "Hak Pakai" from a maximum of 70 to 80 years but does not amend the land law.

Brokers do not expect the ruling to boost sales. “The real question at hand is whether the Bank of Indonesia will allow the Indonesian banks under its charter to lend on the new title,” says Zoe Rice, a sales associate with Elite Havens in Bali. “If they do, there will be a very strong increase in demand.”

Rice also points to another key issue: infrastructure. Despite increased tourist arrivals and investment in luxury resorts, the road quality in Bali remains a problem and daily traffic congestion can put even the most relaxed vacationer on edge. “The south of the island is already overdeveloped. The question at hand is about infrastructure. The government has illustrated over the past few years their keenness to make this happen,” she says.

Greater Seminyak, Canggu, and Bukit to the south of the airport remain prime areas for luxury property, but development is also growing further north. Meanwhile, some investors are setting their sites on neighboring Lombok as well as Nusa Lembongan, a small island about 20 minutes from Bali by boat. “It is what people say Bali was 20 years ago,” says Rice.

Images courtesy of Elite Havens

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Giant Flutes

Zha Toowong

Flowers in bloom? Champagne flutes? These towers form part of Grace on Coronation, a project Zaha Hadid Architects designed for Australia’s Sunland Group. Located in Brisbane, Australia, on the Toowong riverfront, the project is slated to include 486 apartments and eight riverfront villas as well as nearly two acres of landscaped parklands. The towers feature a multi-layer façade with a curtain wall glazing that is overlaid with a quilted diamond pattern made from glass and reinforced concrete. The pattern emulates organic petal shapes creating a non-uniform lattice that becomes sparser as it moves up the building, eventually creating a cage-like structure toward the top. The conical shape of the towers is intended to respond sensitively to the surrounding land and to free up ground space to the public. “The design tapers each structure to minimize their footprint and open the riverfront to the public, creating a vibrant civic space for Toowong within a new riverside park,” Zaha Hadid said.

Seamless Spaces

House in Rooi-Els

Located on a craggy bluff in Rooi-Els, 60 miles from Cape Town, South Africa, this house is essentially perched on the southern tip of the African continent. Elphick & Proome Architects of Durban, South Africa, designed the home as a single-space residence, a steel-framed glass box that facilitates views of the surrounding mountains and seamless indoor-outdoor living. All of the external walls are sliding and folding glass doors filtered by slatted timber shutters. The doors open hydraulically to become verandas when open and a continuous secure screen when closed. The interior walls dividing living and sleeping spaces also slide away during daytime hours to create a single 4,850-square-foot living space that flows out on all four edges on to broad cantilevered decks. Ecological sensitivity was also central to the design concept. The steel-frame structure rises dramatically out of the dunes on steel legs that are elevated to ensure minimal impact on the sensitive fynbos vegetation and dunes that characterize the site. The architects say the effect created is much like an umbrella that connects isotropically to the environment cradling the house.

Stacked Boxes

1500 West Georgia

Beijing-based architect Ole Scheeren, a former partner at OMA, has unveiled plans for his first solo project outside of Asia: an irregularly stacked skyscraper in Vancouver, British Columbia, Canada. The design features multiple projections piled on top of each other and a roofline that resembles a cluster of cubes. While glass towers already dominate Vancouver’s downtown, many with views of the surrounding mountains and water, Scheeren says their verticality does not engage with the environment. His design aims to embrace the city and nature by projecting living spaces and outdoor terraces horizontally. “The design for this building exemplifies our ambition to reconnect architecture with the natural and civic environment and go beyond the hermetic confines of towers that increasingly inscribe our lives,” the architect says. Located on one of Vancouver’s main avenues, 1500 West Georgia will comprise 48 floors with 235 apartments and two floors of mixed-use space at ground level.

Cybertecture

Bandra Ohm

Walls that change color, integrated voice command, and custom technology that checks your weight, blood pressure, and temperature. These are just some of the building features that James Law, founder of Hong Kong-based studio James Law Cybertecture, integrates into his building designs. The forward-thinking architect has designed plans for this 30-story residential tower in Mumbai, India. Named Bandra Ohm, the building is meant to evoke the ripple effect generated by water droplets or capillary waves. The outline of the tower aims to demonstrate the fluidity and dynamic nature of the ripple, an effect that is created via a continuous shifting of infinity edge pools in each unit. All residences at Bandra Ohm feature pool balconies enclosed in acrylic, the material used in aquariums. The ripple pattern also evokes an abstract representation of the Ohm symbol ( ), where an egg-shaped Cybertecture club house occupies the void in the center. The top of the egg is meant to open like a lotus flower to be used for a variety of activities including yoga, meditation, and special events.

Moat and Castle

House on Laurel Way in Beverly Hills

At first glance, Laurel Way looks native to Bali, not Beverly Hills. Whipple Russell Architects chiseled away the hilltop to create the terraced site, creating a flat pad upon which a house could be built and then surrounded it with retaining walls. Today, set atop three tiers of greenery and surrounded by water channels, a $36 million house on Laurel Way appears to float over the hills with views of downtown Los Angeles to Santa Monica and the Pacific Ocean. Catering to West Coast living, the designers paid special attention to the decks, patios, and outdoor spaces, including the incorporation of al fresco dining, cooking, and entertainment areas; a spa; fire features; and a swimming pool. There is even a moat water feature that flows from the pool encircling the house in a horseshoe shape. At 42 inches deep, it replaces the need for railings that obstruct the view and enhances the floating quality of the design. At the very top, a master suite opens to its own 1,200-square-foot deck.

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50 West

In May 2014, Israeli artist Noa Charuvi was given a studio space in lower Manhattan, an honorarium, and access to the construction dig at 50 West––a luxury residential tower from Time Equities. Her task was to create work in response to the construction of the 64-story skyscraper. At the time, seven months into building the foundation, the site was just a hole in the ground. Charuvi, whose work often explores ruins and the destruction of architecture, seemed a fitting choice as the project’s first artist-in-residence.

“Noa has made paintings dealing with destruction, and I thought that was interesting,” says Jennie Lamensdorf, Time Equities in-house curator. “Destruction and construction look the same at that stage.”

"Deck With Cylinders" by Noa Charuvi, 2014

During her residency, Charuvi took photos of the site and brought them back to her studio. There, she created a series of semi-abstract oil paintings in which buckets, hoses, rebar and wooden planks appear in shimmering slabs of color. When 50 West is completed next year, Charuvi’s work and the work of subsequent artists-in-residence (about six or eight in total) will be hung in the building’s common areas.

"Transformers" by Noa Charuvi, 2014

In Manhattan, the tradition of documenting skyscraper construction can be traced back to the building boom of the 1920s and 1930s, when photographers snapped shots of workers at building sites, often in precarious positions. The most iconic of these, “Lunch atop a Skyscraper,” was taken in 1932 during the construction of the RCA Building at 30 Rockefeller Center and shows workers eating lunch on a crossbeam, with their legs dangling at 840 feet. Lamensdorf says Time Equities wanted to engage in this history, “not through photography, but through something that hasn’t been done before.”

While 50 West’s artist-in-residence program is the first of its kind at a luxury tower, it is part of a growing international trend in which developers are incorporating art into their real estate offerings. In London, Galliard Homes commissioned photographer David Bailey to take a series of photos of The Chilterns in Marylebone. When the project was launched in 2013, a private gallery in the grand lobby displayed the photos and buyers of the residences, priced upward of £3 million, received one of the original framed photos worth around £20,000 each.

South Bank Tower Lobby

At London’s South Bank Tower, a new luxury building from CIT, a site-specific sculpture by Tobias Putrih named “Vertical Shell” has been installed in the residents’ lobby. Developed in collaboration with architects Kohn Pedersen Fox Associates (KPF) and Johnson Naylor, the sculpture is made almost entirely from aluminum with a deep purple exterior. The concept originated from part of an oyster shell discovered on the banks of the Thames River. Sculptures also form the centerpiece at Oceana Bal Harbour in Miami where “Pluto and Proserpina” and “Ballerina”, two original pieces by Jeff Koons, are slated to become permanent fixtures in the building.

Oceana Bal Harbour's "Pluto and Proserpina"

“I always had Jeff Koons in mind, but I thought the project couldn’t afford it,” says Eduardo Costantini, founder of Consultatio Real Estate, who is building the project on the northern tip of Miami Beach. Koons is best known for his shiny replicas of banal objects and has sold works for substantial sums. In 2013, Koons’ Balloon Dog (Orange) sold at a Christie’s art auction in New York for $58.4 million, the most expensive work by a living artist to be sold at auction. Costantini bought his two mirror-polished sculptures the year prior for $14 million.

The luxury residences at Oceana Bal Harbour range from $3 million to $30 million and feature wide ocean views, interiors by Piero Lissoni, and expansive balconies accessed via sliding glass doors. A property purchase here includes a share of the Koons pieces, which will be displayed in an open breezeway on the building’s ground floor, as well as 10 other yet-to-be-determined pieces that will be on display in the lobby.

New luxury buildings often push the envelope with novelty amenities and extravagant services, but Costantini believes art is equally important to discerning buyers. “Today’s affluent homeowners are well-traveled, cultured, and appreciate fine art more than ever. Many of them are art collectors in their own right," he says.

50 West’s Jennie Lamensdorf agrees. “Art is already an expectation of high-end buyers,” she says. “People expect their lobbies to be beautiful.”

Riverlight Art by Simon and Tom Bloor

At large-scale regeneration projects, where developers are tasked with creating new neighborhoods from scratch, art programs can also be a way of engaging the community. At Riverlight, a large mixed-use project in London’s rapidly transforming Battersea district, St. James Group offered the Royal College of Art a five-year, rent-free artist space called StudioRCA. The studio was the first to open in the former industrial area, which will soon house Damien Hirst’s Newport Street Gallery and Charles Asprey’s Cabinet Gallery.

Riverlight Art by Peter Newman

“Art and culture play significant roles in the creation of a public realm, which helps with place making,” says Sean Ellis, chairman of St. James. In addition to the studio program, his company commissioned artists Simon and Tom Bloor, Kate Davis, and Peter Newman to create sculptural works for the development’s public, outdoor spaces. Ellis says the success of a project like Riverlight relies partly on meaningful and engaging open spaces, where people want to spend time and live. One of the commissioned pieces, titled “Tidal Forms: Skystation,” is OCEANA BAL HARBOUR's sculptural seating project, a 360-degree circular structure meant to encourage people to lie back and look at the sky.

Oceana Bal Harbour

While such art programs may be designed to engage an audience, they also reflect the personal tastes and interests of developers. Time Equities chairman and CEO Francis J. Greenburger has long been a supporter of the arts. He founded the Omi International Arts Center, a 300-acre arts center in upstate New York and an eponymous prize for under-recognized, mid-career artists. “It makes sense that his business also supports the arts,” says Jennie Lamensdorf. “He is deeply committed and integrated. He knows and understands art history.”

Eduardo Costantini, who was born in Argentina, is an avid art collector and owns an impressive portfolio of paintings and other works from across Latin America. He also founded the Eduardo F. Costantini’s Foundation to promote cultural and educational events in Buenos Aires as well as the Latin American Art Museum of Buenos Aires (Malba). Costantini’s first residential project in the U.S., Oceana Key Biscayne, also featured an art program with pieces by Beatriz Milhazes and Artur Lescher, among others.

For Costantini, art is both a passion and an investment. “The value of the two pieces has undoubtedly appreciated since I purchased them,” he says of the Koons sculptures at Oceana Bal Harbour. But he believes the draw for buyers goes beyond the bottom line.

“Having museum-worthy art speaks to the quality, value, and longevity of the residences,” he says, but it also has a transformative and educational quality. “Art transforms a space, and owners end up loving their home more because of its ability to move them and enhance their quality of life.”

Back in New York, 50 West has topped out and looks more like a luxury tower. More than half of the residences have sold and the current and fourth artist-in-residence is Bahar Behbahani, a painter known for her large-scale and highly-detailed explorations of Persian garden designs. “Her work will likely engage with the building blueprints and constructions plans,” Jennie Lamensdorf says.

Lamensdorf believes the artist-in-residence program raises the profile of the building, but she says working with mid-career artists makes 50 West a little different from the pack. “We are not capitalizing on the name of these artists. We work with new artists and give them an opportunity to engage with audiences that they might not otherwise have the opportunity to engage with––this is when a program moves from decoration to exhibition.”

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With nearly twice as many skyscrapers as Manhattan, Asia’s “World City” is dense, short on land, and home to some of the world’s priciest real estate. Currently, average prices range from $1,558 per square foot to more than $12,000 per square foot at the high end. And despite a number of recent government measures intended to dampen transaction volumes, the residential sector has proved largely immune to the downdraft. Prices rose 13.5 percent last year and eight per cent in the first half of this year, according to data from Hong Kong’s Rating and Valuation Department. The most anticipated luxury development since Frank Gehry’s Opus building is a new project from Wheelock Properties called "Mount Nicholson." Located on Mt Nicholson Road on The Peak, Hong Kong’s most coveted and prestigious address, the project will include detached villas and apartments with sweeping views of the city skyline and Victoria Harbour. Architects RAMSA have created buildings with a classic profile, while designers Champalimaud, David Collins Studio, and Yabu Pushelberg are styling plush model homes ahead of the sales launch in November. The first phase of detached houses range from 6,000 square feet to 10,000 square feet with private driveways and private pools. Prices haven’t been announced, but large homes on The Peak generally trade for upward of $50 million. Developers say they are confident multimillion-dollar properties are still in demand due to limited supply, though some experts warn that an economic slowdown marked by falling retail sales and a softening Chinese mainland economy could adversely affect home purchasing power in coming years.

Singapore

Sky Habitat

Following a construction boom that produced some of Asia’s most expensive and luxurious condos, Singapore’s government introduced a series of cooling regulations starting in mid 2013 that included restrictions on bank lending and higher stamp duties (18 percent for foreigners) that resulted in modest price declines in the broader market and more acute drops at the high end. By some reports, prices are down 20 percent from its 2012 peak, and even more on Sentosa Island, which houses exclusive waterfront villas, yacht clubs, golf courses, and a reclaimed beach. While the city-state maintains tight control of the real estate market, it is remarkably open to new and daring architectural designs and has approved daring projects by Moshe Safdie, Daniel Libeskind, and Zaha Hadid. Safdie is best known for the iconic Marina Bay Sands but also designed Sky Habitat, a residential tower located north of Singapore’s Central Business District. The project comprises two staggered blocks linked at the base and three bridges that connect the upper levels. The lower two feature landscaped gardens, while the upper bridge contains an elevated swimming pool with sweeping city views. In response to the tropical climate, Safdie assigned multiple exposures to each apartment, many of which also feature individual balconies, roof terraces, and gardens. Sky Habitat is developed by CapitaLand Singapore, Mitsubishi Estate Asia, and Shimizu Investment (Asia). Remaining units range from two to four bedrooms, starting at $958 per square feet.

Phuket

Residences by Anantara Phuket Layan

A popular second-home destination for wealthy Asians and expatriates, Phuket contains some of Thailand’s most expensive real estate. Large private villas overlooking the Andaman Sea are priced upward of $10 million and often feature several living pavilions, terraces, and infinity pools. While traffic along the main road is notoriously congested, it eventually leads to a host of exclusive island amenities, including international schools, first-rate hospitals, championship golf courses, yacht marinas, and trendy supper clubs. The international airport is also planning a private jet terminal. Today, much of the land overlooking Kamala, Cape Yamu, and Naithon beaches is already built up, but land is still available on Phuket’s quieter northwest coast. This is the site of The Residences by Anantara Phuket Layan, a villa project by Minor International. Overlooking Layan Beach, the project’s sprawling villas range from around 18,000 square feet to 42,000 square feet, and each has a 68-foot infinity pool. Owners have access to pampering services, such as in-home spa treatments, private wellness sessions, and in-villa dining from chef Umberto Piccolini. There is also a 90-foot Sunseeker yacht available for charter with pickup from the Anantara private beach. Villa prices start at $6 million. Since foreign homebuyers cannot own land in their name in Thailand, buyers typically purchase through leaseholds for a period of 30 years with two opportunities for 30-year extensions.

Niseko

Niseko Kasara Village Townhouse

Famous for its plentiful powder and iconic Mount Yotei, Niseko, located on Japan’s northern island of Hokkaido, is one of Asia’s most popular ski resort destinations. Young, savvy Australian entrepreneurs with a passion for powder initially drove development in the area, but the market has since changed. Today, investors from around Asia and beyond hope to transform the place into a luxury destination on par with resorts in Europe and North America. Boutique, high-end developments with Japanese design touches and access to the slopes are proliferating in Niseko. Some also cater to golfers during the summer season. Malaysia’s YTL Corporation recently opened Niseko Village, a year-round resort that includes three-bedroom townhouses with storage for ski and golf equipment linked to an underground garage. The Kasara townhouses average around 2,700 square feet of living space and are priced at just under U.S. $1,000 per square feet. Japan is the only country in the Asian-Pacific region with no restrictions on foreign ownership. This is a draw for foreign investors, as the current purchasing power against the yen. “The prospect of Niseko is very promising given the strength of international currencies against the yen dollar coupled with low interest rate environment and less-restrictive governing laws,” says Richard Lee, Director of Communications at YTL.

Borocay

Aqua Borocay

The Philippines is one of Asia’s fastest growing markets, and property prices have surged in recent years. In Manila’s Makati district, they have risen nearly 50 percent since the first quarter of 2008. Development is also spreading to some of the country’s 7,100 tropical islands, though only a handful of these are easily accessible. On Boracay, a small island 200 miles from Manila that has become internationally-renowned for its powdery-white sand beaches and laid-back ambience, a new runway is scheduled to land larger international flights by 2016, and resorts are being built to accommodate increased demand. The island’s first branded resort is Aqua Boracay by YOO, the company co-founded by designer Philippe Starck and John Hitchcox. The project is located on Bulabog Beach and features 168 residences with three swimming pools, a day spa, a health club, and concierge services. The first two phases have already sold out, but a range of third phase apartments are still available, and at a relative bargain when compared with other beach homes around Asia. Similar properties in Phuket might sell for $2 million, while a one-bedroom apartment at Aqua Boracay by YOO is listed for $350,000.

Cambodia

SSPI Accommodation (two-bedroom jungle villa)

Cambodia remains a frontier market and is still catching up to neighboring Thailand and Vietnam, which have rapidly developed their economies, export markets, and tourism industries. But while lagging infrastructure makes land travel slow and laborious, Cambodia’s private island resort rivals other leading luxury resorts in the region. Song Saa, Khmer for “The Sweethearts” is the country’s first private island retreat and comprises two islands. The larger houses 27 private villas, some built on the water, some island in the jungle and the other is uninhabited but connected via a curving boardwalk. Another bridge leads to an over-water bar and restaurant. The resort is designed partially using recycled materials––driftwood, wood from old boats, scrap metal, and stone––for a vibe that is rustic, yet refined. Just one of the villas remains for sale, a two-bedroom jungle villa with a large infinity pool and views of the ocean and neighboring Koh Bong Island that is on the market for $995,000. “The owner of the villa will be entitled to 30 nights usage of the villa per year and will receive a return from the resort,” says Development Manager Edward Gibbons, who is based in Cambodia. Song Saa is reached via a 35-minute ride in a private speedboat from Sihanoukville, a seaside city 140 miles from the capital, Phnom Penh, or by helicopter to nearby Koh Rong Island. While foreigners cannot purchase land in Cambodia, the land can be held on long (renewable) leases and through majority locally-owned companies incorporated in Cambodia.

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