Côte d’Azur and Monaco currently commanding the highest price in the prime global property market
Research by the world’s leading high-net-worth mortgage broker, Enness Global, has looked at the current cost of purchasing in the global prime market, across the world’s most sought after property playgrounds of the super-wealthy.
Enness analysed data from over 35,000 current property listings at £3m and above to reveal the average cost of a property purchase in 17 of the go-to destinations for high-net-worth homebuyers in the current market.
The research shows that the French Riviera is currently the most premier property destination in the global prime market, with the average property for sale in the Côte d’Azur currently worth just shy of £19m.
Monaco is one of just two city destinations in the top 10 where current property prices are concerned. With an average asking price of £14.7m, it’s also the only other premier property destination where property values currently sit comfortably above the eight-figure price threshold.
Mallorca (£9.6m), Barbados (£9.5m) and Tuscany (£8.9m) are also home to some of the highest average asking prices in the £3m+ market.
The French Alps (£8.6m), Ibiza (£8.2m) and Valais (£7.9m) are also home to some of the highest current asking prices in the prime global market.
Dubai joins Monaco in the top 10 as the only other prime global city destination with an average property price of £7.5m, while the Maldives (£7.4m) completes the top 10.
In contrast, the Loire Valley provides the most affordable option for global HNW homebuyers at present, with the average price of property in the region coming in at £3.2m in the current market.
Managing Director of Enness Global Mortgages, Hugh Wade-Jones, commented:
“Reputation is everything when it comes to the property preferences of the super-wealthy and they don’t get much stronger than the Côte d’Azur and Monaco.
This reputational strength has resulted in a sustained level of demand from high-net-worth homebuyers and properties in both locations remain some of the most sought after in the world. As a result, asking prices remain robust despite the wider turbulence caused by Covid.”
|Location||Type||Average asking price above £3m|
|Côte d’Azur (French Riviera)||Beach/Coastal||£18,975,855|
|St Vincent and the Grenadines||Beach/Coastal||£7,224,849|
|St Kitts and Nevis||Beach/Coastal||£5,341,187|
|Asking price based on the geomean for properties listed at above £3m on Rightmove Overseas.|
|Rightmove Overseas is the UK’s leading overseas property portal, displaying over 260,000 properties in over 90 countries|