Palm Beach, The Hamptons, Aspen and Manhattan are just a few of the locations we often associate with extreme wealth and expensive residences. The recent estimated $90 million sale of a Manhattan penthouse was a record breaker and has the world abuzz with buyer speculations. There is also the heavily talked about billion dollar residence being constructed in India that looks more like a personal condo building than a home.
Wealthy International buyers are taking full advantage of these luxury estates which can be seen by the large influx of Chinese, Russian and South American buyers. These high end real estate purchases are viewed as an investment; some buyers don’t even visit the residences before purchasing! There is such a high demand for these mega luxury properties, that in places like Aspen the inventory has decreased by 50%!