Navigating International Property Markets

Villa Isola Bella, a beautiful Belle Epoque mansion on France’s Cap d’Antibes, is a superb Riviera property well-suited to the demands of today’s affluent buyers. It sits in lush gardens with its own private pool, close to the bars and restaurants of this most illustrious coast. There’s opulent entertaining space, inside and out, six-bedroom suites with private terraces, sea views and parking for up to eight cars. Yet what truly marks out Villa Isola Bella is its state-of-the-art technology, equal to anything you might find in London or New York and ideal to combine an efficient professional life with a healthy, high-quality lifestyle.

Whether it is a main residence or a property abroad, our homes have never been more important to us. Like Villa Isola Bella, they must juggle work and leisure, be somewhere to connect safely with family and friends yet also be a relaxed and personal space that enhances our mental and physical wellbeing. Combining all these pivotal strands is challenging but necessary for today’s international audience who expect first-rate quality from their second or third holiday homes.

Knight Frank’s Global Buyer Survey 2020 took the temperature of the market in the aftermath of the spring lockdown to reveal the impact of Covid-19 on buyers’ attitudes. It illustrated how the pandemic has accelerated demand for international homes, especially those that deliver an exceptional lifestyle. Flexible interiors with home offices, expansive outdoor space and greater privacy are all important and while a move to a sunnier climate is a time honoured request, the location must also provide political stability, a secure currency, excellent educational facilities and easy accessibility. Overriding all of these however is demand for swift access to quality healthcare and the pursuit of wellness.

“The new generation of international buyers have high expectations on wellness and that doesn’t mean simply spa and leisure facilities,”  illustrates Mark Harvey, Head of International Residential at Knight Frank. “Homes must meet clients demanding social and environmental expectations from construction methods through to on-going maintenance, location to interior design. Well-crafted homes with thoughtful design incorporating good light, ventilation and cutting-edge facilities, design sensitive to the individual and the local environment: this is what underpins wellness. This demand has been growing for a while, Covid-19 has only intensified it.”

Which locations are best placed to provide this wellness wish-list? It’s the age-old glamorous favourites: the French Riviera and Provence, Tuscany, Lake Geneva and elegant villas outside Geneva in Cologny. Prime Caribbean locations, a west coast marina apartment in Barbados or a villa on the gentle hills of Mustique but also residences in rousing cities, notably Lisbon and Barcelona: these all currently resonate with cosmopolitan, mobile buyers.

Mountain living too chimes with a desire for wellness so it’s no surprise that Knight Frank’s office in top-dollar Aspen in Colorado’s Rocky Mountains has seen a record number of sales post lockdown. In the hardcore sporting and partying resort of Verbier in the Swiss Alps where Knight Frank opened a new office this autumn, rare opportunities for ski-in-and-out homes include a three-bedroom penthouse and a seven-bedroom chalet, both on Le Rouge piste.

Proximity to key infrastructure is vital so rather than an isolated house far off the beaten path, buyers increasingly want a private but well-connected home. Buyers in this category have replaced seasonal St Tropez, where in high season cars snake painfully along the coast road, with Cannes, helping the vibrant year-round town with its sleek yacht-filled port and refreshed beachfront to outperform the rest of the Côte d’Azur market.

Owners able to work remotely are looking to divide their time more equally between their various properties. This rise in the ‘semi-permanent 50/50’ home is a noteworthy trend identified in Knight Frank’s Expat Survey and means secondary homes must now provide the same  comforts as a primary home for buyers who will not compromise on space or quality.

Close to the Tuscan coast, Tenuta Serristori in Bolgheri is a high-end gated development of just six detached and highly-specified off-plan properties that fits this criteria. The 37-hectare estate includes vineyards, mature woods and a private beach club, all complemented with full management services provided by the team behind Florence’s magnificent Palazzo Tornabuoni.

“Exquisite design and detailed craftsmanship in substantial homes, each with one and a half hectares of private gardens, rural peace with cycle paths winding through the olive groves, beautiful sand dunes nearby, an expert concierge, wine from your own vines to serve to your guests and all within one hour of Pisa international airport,” outlines Mr Harvey of Knight Frank. “That ticks the boxes for today’s buyer.”

City living continues to appeal, especially when the city offers striking local culture with an easy escape route to wonderful countryside. In Lisbon’s elegant Lapa neighbourhood, contemporary-meets-classical apartments with landscaped gardens, swimming pool and spa offer wide views of the mighty Tejo River. Or on the Mediterranean Sea against the backdrop of Gaudi’s Barcelona, the outstanding facilities and design features at Antares, a development of luxury apartments at fast-evolving Diagonal Mar, set a new level for all of Spain.

During lockdown, an English couple were rushing into the purchase of an €8.2 million contemporary home in Cannes, eager to find a peaceful retreat for six months of each year. “We advised them to take their time, explore the wider area and reconsider what they required in a home where they planned to spend a significant part of the year,” says Mr Harvey.

“Six kilometres inland in Mougins they viewed an artfully modernised traditional house with one-hectare gardens beside a wide canopy of mature trees. The property offered significantly more space and tranquillity for €500,000 less than the Cannes property and it was this marriage of nature and proximity to Cannes - 20 minutes from the Croisette - that won them over.”