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DEBRIEF: The Luxury Real Estate Conference in Paris

by Marquette Turner

in Features, Marquette Turner, Real Estate Radar, Travel

France – what a Country! I am back in Australia after spending three days with Partners from the “Who’s Who In Luxury Real Estate” at the Hotel du Louvre in Paris.

It was a fantastic opportunity to catch up with old friends, make new friends and find out what is happening in real estate around the world.

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With the economy being the focus around the globe it was fascinating to hear from other Brokers from all over the world how they are dealing with the situation.

Australia has been resilient – so far – compared to some countries where prices have tumbled and buyer interest all but dried up.

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The lack of available finance is biting hard in “traditional powerhouse” economies like the United States, the United Arab Emirates and the United Kingdom.

Fractional Ownership is gaining momentum for Lifestyle properties –homes that are traditional holiday or recreation residences.

In areas such as Tuscany (where Marquette Turner Luxury Homes is currently selling Castello di Casole), fractional ownership is being used to sell properties worth between (Euro) 6 and 10 million.

Those fortunate enough to experience one of the world’s most magnificent residences in Tuscany, Italy can own as little as one tenth (1/10) or can purchase the property fully themselves.

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Similarly, the stunning Four Season’s luxury development on the island of Bora Bora in French Polynesia is for sale whole or fractional ownership.

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The world is changing and we as Brokers must adapt to the new “reality”. Our international connections have never been more important than now in selling Luxury Real Estate to the world.

More information: View the sales in Bora Bora and Tuscany

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{ 3 comments… read them below or add one }

Piers Brown January 28, 2009 at 10:00 pm

“100% ownership, count me out.
If you consider yourself financially astute in these uncertain times, fractionals are for you.
It’s clear during challenging economic times, consumers tend to reassess exactly what’s important to them, and many don’t want the costs and hassles associated with whole ownership luxury purchases anymore. As material goods become more commoditised, people are placing more emphasis on enjoying quality time, new discovery and experiences. Fractional ownership is the sweet spot for those who desire the experience of wealth and an element of ownership without the hassle of obligation that comes with it.
In today’s cash poor luxury world, 100% ownership is now not necessarily the privilege, access is. Fractional ownership is indeed at the forefront of the ‘luxury access revolution’.”

Piers Brown January 28, 2009 at 10:00 pm

“100% ownership, count me out.
If you consider yourself financially astute in these uncertain times, fractionals are for you.
It’s clear during challenging economic times, consumers tend to reassess exactly what’s important to them, and many don’t want the costs and hassles associated with whole ownership luxury purchases anymore. As material goods become more commoditised, people are placing more emphasis on enjoying quality time, new discovery and experiences. Fractional ownership is the sweet spot for those who desire the experience of wealth and an element of ownership without the hassle of obligation that comes with it.
In today’s cash poor luxury world, 100% ownership is now not necessarily the privilege, access is. Fractional ownership is indeed at the forefront of the ‘luxury access revolution’.”

Piers Brown January 29, 2009 at 8:00 am

“100% ownership, count me out.
If you consider yourself financially astute in these uncertain times, fractionals are for you.
It’s clear during challenging economic times, consumers tend to reassess exactly what’s important to them, and many don’t want the costs and hassles associated with whole ownership luxury purchases anymore. As material goods become more commoditised, people are placing more emphasis on enjoying quality time, new discovery and experiences. Fractional ownership is the sweet spot for those who desire the experience of wealth and an element of ownership without the hassle of obligation that comes with it.
In today’s cash poor luxury world, 100% ownership is now not necessarily the privilege, access is. Fractional ownership is indeed at the forefront of the ‘luxury access revolution’.”

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