News & Notes
FRANCE — European ski resorts are no longer snowed-in with the global economic downturn, according to a recent report from Knight Frank.
Sales activity in French alpine resorts has proved strong within areas such as Courchevel, Meribel, Megeve and Val D’lsere. The best properties are drawing interest from more than one buyer, allowing sales to be made close to the asking price. Furthermore, the Ski Resort Property Index states resort prices are stabilizing, and in the past five years French ski resorts have experienced a substantial amount of investment.
“Demand for property is proving less seasonal in many of the world’s luxury ski resorts,” says Liam Baily of Knight Frank. “The Alps are now host to a number of summer festivals, concerts and sporting events.”
KEY LARGO, Fla. — Ocean Reef, a private, members-only community, has seen a big jump in sales in the last year, according to Susan Bryan of Card Sound Properties.
“We have more buyers, but they are still looking for deals,” says Bryan, who observed more interest from the international side. However, “we are seeing some of our markets drying up and inching toward a seller’s market.”
Bryan believes the latest sales are due to properties being priced correctly.
“The waterfront properties most actively selling are either the properties that need to be torn down and selling at lot value or a spectacular waterfront,” says Bryan. The lot-value properties have sold from $2.5 million to $3.3 million and the “spectacular” waterfronts have sold from $4 million to $8 million and up.
KAILUA-KONA, Hawaii — With a year-round lifestyle, buyers can’t get enough of Hawaii’s Hualalai Resort. Sales of Hualalai’s homes, homesites, villas and condos have increased 29 percent from 2010, with prices ranging anywhere from $995,000 to $16.95 million in 2011.
“I believe it has to do with Hualalai’s established reputation,” says Robert Kildow, director of residential sales at Hualalai. “There’s a true sense of ‘ohana,’ or community, here that contributes to a very fulfilling lifestyle.”
In fact, according to Kildow, 10 of the purchases in 2011 have been current Hualalai members moving up to larger homes.
“We made the decision not to cut prices during the downturn,” says Kildow. “We believed it was important to support our current residents. Now, we’re seeing the success of that decision.”
NEW YORK, N.Y. — Sales picked up in the fall for Long Island’s The Murano; the building now has sold more than 60 percent of its units.
“Reaching the 60-percent-sold milestone for The Murano reinforces the fact that there is a strong demand for luxury condominiums in Long Island City,” says Eric Benaim, CEO of marketing team Modern Spaces.
With collective sales of about $38.2 million, the Italian-made and furnished Murano has sold 49 of its 76 one-, two- and three-bedroom units.
Benaim says these sales have to do with the decline of the neighborhood market’s inventory.
The sleek and modern Murano units (which include floor-to-ceiling windows) range from about $470,000 for a one-bedroom to about $1.2 million for a three-bedroom.