Most people dream about buying luxury getaways but do not have the funds. Even though prices range between $1 million and $10 million, it is always fun to examine some of the world’s most unique and lush properties on the market.
Luxury Market
Since many high-rollers have been looking to secure “trophy” real estate, a record number of properties worth over $100 million were sold last year. Places like London, New York, and Hong Kong have seen the highest prices. In 2014, the property that sold for the most money was in The Hamptons. Although average home prices in the area are $5 million, the luxury estate changed hands for $147 million.
Global Luxury Rental Market
Instead of making property purchases, many people are opting to rent luxury escapes. Edge Retreats is just one website that caters to the needs of this niche. It provides concierge service and access to the most stylish villas in the world.
Thanks to the Internet, secret retreats are now available to online consumers searching for ultra-exclusive getaways. Although the properties are spectacular, they do not come cheap. Some cost up to $375,000 for one week. Besides amenities, many people pay for additional services, including private chefs, sports cars, and private travel excursions.
Global Luxury Rentals to Grow
It seems the luxury real estate market is booming. By 2016, this industry may be worth $22.5 billion. As online booking becomes more prevalent, people can peruse some of the world’s finest destinations and aspire to rent or buy a piece of paradise.