Coldwell Banker Global Luxury

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Home of the Week

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September 7, 2021

Gilded Age-Inspired Mansion in New Jersey

A historic setting in Mendham Boro, New Jersey is the legacy by which the opulent lifestyle of the Gilded Age inspires this magnificent gated mansion. Designed by Beer & Coleman, the residence exudes exquisite detailing and craftsmanship throughout its approximately 14,152 square feet. Suitable for multiple generations of family, the residence balances formal and informal entertaining spaces with eight separate bedrooms. Meanwhile, the floorplan has been designed for today’s living while paying homage to the character and elegance of yesteryear. The superb kitchen serves as a comfortable gathering place with top-of-the-line accouterments every chef desires. The banquet-size dining room, touched with a marble fireplace surround and Venetian plaster ceiling, provides the perfect setting for the grandest of events. A conservatory, plus an office with custom finishes complete the main level, adding to the home’s enduring livability. Upstairs, double accommodations await in the luxurious primary bedroom suite in addition to the seven other bedrooms. Entertain friends and family all four seasons, thanks to a luxurious spa and wellness center, exercise room, billiards room, theater, pub and wine cellar. Beyond the residence itself, the grounds beckon with lush gardens and terraces appointed with a covered seating area, pool, pool house, greenhouse and fountains. A mansion for the ages that can never be replicated. View the complete listing by Flor De Maria Thomas of Coldwell Banker Realty in Mendham.   The post Gilded Age-Inspired Mansion in New Jersey appeared first on Coldwell Banker Global Luxury Blog - Luxury Home & Style.

By Alyson Pitarre

The EV Supercar Concepts and Hybrids That Stole the Show at Monterey Car Week

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September 7, 2021

The EV Supercar Concepts and Hybrids That Stole the Show at Monterey Car Week

Monterey Car Week wrapped up on August 15, 2021 with the return of the Pebble Beach Concours d’Elegance. Now in its 70th year, the show closed with a black 1938 Mercedes-Benz 540K Autobahn Kurrier winning “Best in Show.” But it was the all-electric supercar concepts and high-performance hybrids that truly stole the spotlight. Audi Skysphere The first of three new autonomous ‘Sphere’ concepts from Audi, the Skysphere is more transformer than EV concept. With the touch of a button, the car transforms from a sporty roadster to a smooth grand tourer that drives itself while passengers relax. That means the driver can “choose their own driving experience,” says Audi. “Either they pilot their 4.94-meter-long e-roadster themselves in ‘Sports’ mode with a reduced wheelbase, while the rear-wheel steering ensures that the vehicle remains extremely agile despite its dimensions. Or they can choose to be chauffeured around in a 5.19-meter GT in the autonomous ‘Grand Touring’ driving mode while enjoying the sky and the scenery, maximum legroom, and the services offered by a seamlessly integrated digital ecosystem.” The long-bonnet, short-deck styling takes design cues from 1930s roadsters — but that’s where the nod to history ends. A look under the hood and the electric drive components tell a different story. Between the front axle and the windshield, there’s the charger and the DC/DC converter, plus actuators and electronic and mechanical components for the adaptive wheelbase. The designers even added a spacious trunk for two golf bags. But it’s all about the drive and the distance for an EV concept car, right? The drive system in the Skysphere delivers 465 kilowatts of power and 750 Newton meters of torque. It’s possible to reach acceleration from 0 to 100 km/h in just four seconds. Production-Ready Pininfarina Battista The first production version of the Pininfarina Battista electric supercar made its long-awaited debut during Monterey Car Week. Finished in exposed carbon fiber with black gloss wheels, the production car has an interior made of sustainable black leather with contrasting blue stitching. The Battista features an 1,877-hp powertrain from Rimac, which is using a similar setup for its rival Nevera electric hypercar (more on that below). The powertrain is comprised of four electric motors and a 120-kilowatt-hour, T-shaped battery to deliver 1,696 lb-ft of torque and a 0-60 mph time in less than 2.0 seconds. It’s the most powerful and quickest-accelerating road car to come out of Italy. Pininfarina says it will build 150 examples of the Battista at a $2.2 million sticker price. Rimac Nevera Hailed as “a next-generation all-electric hypercar,” the Rimac Nevera made its official U.S. debut during Monterey Car Week.  This $2.44 million supercar “opens up new dimensions in road car performance,” according to Rimac. With 1,914hp from four electric motors, Nevera can accelerate to 60mph in 1.85 seconds and to 100mph in just 4.3 seconds. It maintains its eye-widening acceleration throughout a full-throttle cycle, achieving 186mph (300 km/h) from rest in 9.3 seconds. The Nevera is designed, developed and built in-house at Rimac Automobili in Croatia, and comes by its name (taken from a powerful Croatian storm) honestly: the electric hypercar recently completed a quarter-mile in 8.58 seconds, with a top speed of 167.51 mph, beating out the Tesla Model S Plaid for the record and subsequently making it the fastest accelerating production vehicle on the market today. Lamborghini Countach LPI 800-4 Lamborghini decided to pay homage to the iconic Countach with its all-new LPI 800-4, built with a hybrid powertrain capable of reaching 60 miles per hour in 2.8 seconds and a top speed of 221 mph.  While the new hybrid was just a revival of the existing Countach chassis, the ultra-limited production and retro inspiration were enough to get Lamborghini fans excited. All 112 models of the $2.64-million LPI 800-4 are already sold out. Bentley Flying Spur Mulliner Also exciting Bentley fans was the debut of the luxury British automaker’s first hybrid Flying Spur Mulliner. The four-door luxury grand tourer has all of the signature bells and whistles of its former counterparts but with a 2.9 liter V6 hybrid engine. Equipped with an electric motor, the engine allows the grand tourer to accelerate from 0-60 mph in 4.1 seconds (0-100 km/h in 4.3 seconds) with a top speed of 177 mph (285 km/h). Maybe it’s not the fastest Mulliner, but it’s certainly the most eco-friendly. The high-end hybrid brings Bentley one step closer to its Beyond100 plan, which seeks to become carbon-neutral with an entirely electrified range by 2023. The post The EV Supercar Concepts and Hybrids That Stole the Show at Monterey Car Week appeared first on Coldwell Banker Global Luxury Blog - Luxury Home & Style.

By Alyson Pitarre

Home of the Week

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September 7, 2021

Gilded Age-Inspired Mansion in New Jersey

A historic setting in Mendham Boro, New Jersey is the legacy by which the opulent lifestyle of the Gilded Age inspires this magnificent gated mansion. Designed by Beer & Coleman, the residence exudes exquisite detailing and craftsmanship throughout its approximately 14,152 square feet. Suitable for multiple generations of family, the residence balances formal and informal entertaining spaces with eight separate bedrooms. Meanwhile, the floorplan has been designed for today’s living while paying homage to the character and elegance of yesteryear. The superb kitchen serves as a comfortable gathering place with top-of-the-line accouterments every chef desires. The banquet-size dining room, touched with a marble fireplace surround and Venetian plaster ceiling, provides the perfect setting for the grandest of events. A conservatory, plus an office with custom finishes complete the main level, adding to the home’s enduring livability. Upstairs, double accommodations await in the luxurious primary bedroom suite in addition to the seven other bedrooms. Entertain friends and family all four seasons, thanks to a luxurious spa and wellness center, exercise room, billiards room, theater, pub and wine cellar. Beyond the residence itself, the grounds beckon with lush gardens and terraces appointed with a covered seating area, pool, pool house, greenhouse and fountains. A mansion for the ages that can never be replicated. View the complete listing by Flor De Maria Thomas of Coldwell Banker Realty in Mendham.   The post Gilded Age-Inspired Mansion in New Jersey appeared first on Coldwell Banker Global Luxury Blog - Luxury Home & Style.

By Alyson Pitarre

The EV Supercar Concepts and Hybrids That Stole the Show at Monterey Car Week

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September 3, 2021

The EV Supercar Concepts and Hybrids That Stole the Show at Monterey Car Week

Monterey Car Week wrapped up on August 15, 2021 with the return of the Pebble Beach Concours d’Elegance. Now in its 70th year, the show closed with a black 1938 Mercedes-Benz 540K Autobahn Kurrier winning “Best in Show.” But it was the all-electric supercar concepts and high-performance hybrids that truly stole the spotlight. Audi Skysphere The first of three new autonomous ‘Sphere’ concepts from Audi, the Skysphere is more transformer than EV concept. With the touch of a button, the car transforms from a sporty roadster to a smooth grand tourer that drives itself while passengers relax. That means the driver can “choose their own driving experience,” says Audi. “Either they pilot their 4.94-meter-long e-roadster themselves in ‘Sports’ mode with a reduced wheelbase, while the rear-wheel steering ensures that the vehicle remains extremely agile despite its dimensions. Or they can choose to be chauffeured around in a 5.19-meter GT in the autonomous ‘Grand Touring’ driving mode while enjoying the sky and the scenery, maximum legroom, and the services offered by a seamlessly integrated digital ecosystem.” The long-bonnet, short-deck styling takes design cues from 1930s roadsters — but that’s where the nod to history ends. A look under the hood and the electric drive components tell a different story. Between the front axle and the windshield, there’s the charger and the DC/DC converter, plus actuators and electronic and mechanical components for the adaptive wheelbase. The designers even added a spacious trunk for two golf bags. But it’s all about the drive and the distance for an EV concept car, right? The drive system in the Skysphere delivers 465 kilowatts of power and 750 Newton meters of torque. It’s possible to reach acceleration from 0 to 100 km/h in just four seconds. Production-Ready Pininfarina Battista The first production version of the Pininfarina Battista electric supercar made its long-awaited debut during Monterey Car Week. Finished in exposed carbon fiber with black gloss wheels, the production car has an interior made of sustainable black leather with contrasting blue stitching. The Battista features an 1,877-hp powertrain from Rimac, which is using a similar setup for its rival Nevera electric hypercar (more on that below). The powertrain is comprised of four electric motors and a 120-kilowatt-hour, T-shaped battery to deliver 1,696 lb-ft of torque and a 0-60 mph time in less than 2.0 seconds. It’s the most powerful and quickest-accelerating road car to come out of Italy. Pininfarina says it will build 150 examples of the Battista at a $2.2 million sticker price. Rimac Nevera Hailed as “a next-generation all-electric hypercar,” the Rimac Nevera made its official U.S. debut during Monterey Car Week.  This $2.44 million supercar “opens up new dimensions in road car performance,” according to Rimac. With 1,914hp from four electric motors, Nevera can accelerate to 60mph in 1.85 seconds and to 100mph in just 4.3 seconds. It maintains its eye-widening acceleration throughout a full-throttle cycle, achieving 186mph (300 km/h) from rest in 9.3 seconds. The Nevera is designed, developed and built in-house at Rimac Automobili in Croatia, and comes by its name (taken from a powerful Croatian storm) honestly: the electric hypercar recently completed a quarter-mile in 8.58 seconds, with a top speed of 167.51 mph, beating out the Tesla Model S Plaid for the record and subsequently making it the fastest accelerating production vehicle on the market today. Lamborghini Countach LPI 800-4 Lamborghini decided to pay homage to the iconic Countach with its all-new LPI 800-4, built with a hybrid powertrain capable of reaching 60 miles per hour in 2.8 seconds and a top speed of 221 mph.  While the new hybrid was just a revival of the existing Countach chassis, the ultra-limited production and retro inspiration were enough to get Lamborghini fans excited. All 112 models of the $2.64-million LPI 800-4 are already sold out. Bentley Flying Spur Mulliner Also exciting Bentley fans was the debut of the luxury British automaker’s first hybrid Flying Spur Mulliner. The four-door luxury grand tourer has all of the signature bells and whistles of its former counterparts but with a 2.9 liter V6 hybrid engine. Equipped with an electric motor, the engine allows the grand tourer to accelerate from 0-60 mph in 4.1 seconds (0-100 km/h in 4.3 seconds) with a top speed of 177 mph (285 km/h). Maybe it’s not the fastest Mulliner, but it’s certainly the most eco-friendly. The high-end hybrid brings Bentley one step closer to its Beyond100 plan, which seeks to become carbon-neutral with an entirely electrified range by 2023. The post The EV Supercar Concepts and Hybrids That Stole the Show at Monterey Car Week appeared first on Coldwell Banker Global Luxury Blog - Luxury Home & Style.

By Alyson Pitarre

The EV Supercar Concepts and Hybrids That Stole the Show at Monterey Car Week

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August 31, 2021

The EV Supercar Concepts and Hybrids That Stole the Show at Monterey Car Week

Monterey Car Week wrapped up on August 15, 2021 with the return of the Pebble Beach Concours d’Elegance. Now in its 70th year, the show closed with a black 1938 Mercedes-Benz 540K Autobahn Kurrier winning “Best in Show.” But it was the all-electric supercar concepts and high-performance hybrids that truly stole the spotlight. Audi Skysphere The first of three new autonomous ‘Sphere’ concepts from Audi, the Skysphere is more transformer than EV concept. With the touch of a button, the car transforms from a sporty roadster to a smooth grand tourer that drives itself while passengers relax. That means the driver can “choose their own driving experience,” says Audi. “Either they pilot their 4.94-meter-long e-roadster themselves in ‘Sports’ mode with a reduced wheelbase, while the rear-wheel steering ensures that the vehicle remains extremely agile despite its dimensions. Or they can choose to be chauffeured around in a 5.19-meter GT in the autonomous ‘Grand Touring’ driving mode while enjoying the sky and the scenery, maximum legroom, and the services offered by a seamlessly integrated digital ecosystem.” The long-bonnet, short-deck styling takes design cues from 1930s roadsters — but that’s where the nod to history ends. A look under the hood and the electric drive components tell a different story. Between the front axle and the windshield, there’s the charger and the DC/DC converter, plus actuators and electronic and mechanical components for the adaptive wheelbase. The designers even added a spacious trunk for two golf bags. But it’s all about the drive and the distance for an EV concept car, right? The drive system in the Skysphere delivers 465 kilowatts of power and 750 Newton meters of torque. It’s possible to reach acceleration from 0 to 100 km/h in just four seconds. Production-Ready Pininfarina Battista The first production version of the Pininfarina Battista electric supercar made its long-awaited debut during Monterey Car Week. Finished in exposed carbon fiber with black gloss wheels, the production car has an interior made of sustainable black leather with contrasting blue stitching. The Battista features an 1,877-hp powertrain from Rimac, which is using a similar setup for its rival Nevera electric hypercar (more on that below). The powertrain is comprised of four electric motors and a 120-kilowatt-hour, T-shaped battery to deliver 1,696 lb-ft of torque and a 0-60 mph time in less than 2.0 seconds. It’s the most powerful and quickest-accelerating road car to come out of Italy. Pininfarina says it will build 150 examples of the Battista at a $2.2 million sticker price. Rimac Nevera Hailed as “a next-generation all-electric hypercar,” the Rimac Nevera made its official U.S. debut during Monterey Car Week.  This $2.44 million supercar “opens up new dimensions in road car performance,” according to Rimac. With 1,914hp from four electric motors, Nevera can accelerate to 60mph in 1.85 seconds and to 100mph in just 4.3 seconds. It maintains its eye-widening acceleration throughout a full-throttle cycle, achieving 186mph (300 km/h) from rest in 9.3 seconds. The Nevera is designed, developed and built in-house at Rimac Automobili in Croatia, and comes by its name (taken from a powerful Croatian storm) honestly: the electric hypercar recently completed a quarter-mile in 8.58 seconds, with a top speed of 167.51 mph, beating out the Tesla Model S Plaid for the record and subsequently making it the fastest accelerating production vehicle on the market today. Lamborghini Countach LPI 800-4 Lamborghini decided to pay homage to the iconic Countach with its all-new LPI 800-4, built with a hybrid powertrain capable of reaching 60 miles per hour in 2.8 seconds and a top speed of 221 mph.  While the new hybrid was just a revival of the existing Countach chassis, the ultra-limited production and retro inspiration were enough to get Lamborghini fans excited. All 112 models of the $2.64-million LPI 800-4 are already sold out. Bentley Flying Spur Mulliner Also exciting Bentley fans was the debut of the luxury British automaker’s first hybrid Flying Spur Mulliner. The four-door luxury grand tourer has all of the signature bells and whistles of its former counterparts but with a 2.9 liter V6 hybrid engine. Equipped with an electric motor, the engine allows the grand tourer to accelerate from 0-60 mph in 4.1 seconds (0-100 km/h in 4.3 seconds) with a top speed of 177 mph (285 km/h). Maybe it’s not the fastest Mulliner, but it’s certainly the most eco-friendly. The high-end hybrid brings Bentley one step closer to its Beyond100 plan, which seeks to become carbon-neutral with an entirely electrified range by 2023. The post The EV Supercar Concepts and Hybrids That Stole the Show at Monterey Car Week appeared first on Coldwell Banker Global Luxury Blog - Luxury Home & Style.

By Alyson Pitarre

Home of the Week

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August 31, 2021

Big Sur Architectural Wonder by Mickey Muennig

Frank Lloyd Wright once said, “Study nature, love nature, stay close to nature. It will never fail you.” The private and iconic residence of world-renowned architect Mickey Muennig offers such a study. Envisioned as a built environment in complete harmony with its surroundings, this rare, incredible property is perched up high on Partington Ridge in Big Sur, California. The property pays homage to its 30 acres of expansive forest, sky, ocean and sweeping coastal views. The main residence is a passive solar house built into the side of the mountain and has a sod roof.  There are two other homes on the property, also designed by Mickey Muennig, one built in collaboration with his daughter. Known as the Caretaker’s House, it has a separate, open-air bathhouse, and its own driveway on the east side of the property. Ocean views can be enjoyed from every level of the house. Just down below, the small round house — the first of the structures Michey designed and built for himself — has been dramatically chiseled into the mountain and overlooks the sea. Small and cozy in square footage, the space manages to feel expansive with its vast view. “This spectacular setting was befitting a man who listened, observed, dreamed and then would draw, then listen more, and draw more,” says listing agent Ben Heinrich. He calls it “drawing the music” — the neverending dance between architecture, nature and inspiration. View the complete listing by Ben Heinrich of Coldwell Banker Realty in Carmel. The post Big Sur Architectural Wonder by Mickey Muennig appeared first on Coldwell Banker Global Luxury Blog - Luxury Home & Style.

By Alyson Pitarre

Rise of the Escape Home: Wave of International Relocations Drives Puerto Vallarta’s Real Estate Boom

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August 31, 2021

Rise of the Escape Home: Wave of International Relocations Drives Puerto Vallarta’s Real Estate Boom

It’s official: we’re living in the era of the getaway property. Once viewed as a luxury reserved for the ultra-wealthy, escape homes are on the rise as many people seek out places of respite during the pandemic. The latest findings from NAR’s 2021 “Vacation Home Counties Report” prove it: Vacation home sales grew by 16.4% in 2020, and they’re still riding the wave of growth this year. Brock Squire Brock Squire, broker/owner of Coldwell Banker La Costa in Puerto Vallarta, Mexico, has found himself on the front lines of the trend. This year to date, there has been a 48% increase in the number of free-standing villas compared to last year, and a 94% increase in the number of condominiums sold, he says. “Overall, the median price increased by 13% for attached homes while detached homes/villas have seen an 88% increase in median sales prices,” he noted. He credits several cultural changes with the sudden uptick in interest for Mexican vacation homes. “It goes a little deeper than just people being able to work from home,” he theorizes. “I think it’s about people’s realization that their families and health are really important. They see our market and how much house they can get for their money, and realize that they can own a property they can visit again and again, while also being able to enjoy paradise and the fun activities unique to Puerto Vallarta.” Squire has watched with amusement as the Puerto Vallarta real estate market has surged over the decades. He has been deeply involved in the marketing and sales of high-end properties in the Puerto Vallarta area since the mid-1980s when he first relocated to the Mexican coastal retreat with his wife, Bonnie, from Vancouver, B.C.  His firm, originally known as Brock Squire y Asociados, subsequently became the first Coldwell Banker franchise in Mexico in 1998. Today, he manages three offices with over 80 agents spanning from the Bay of Banderas area, including Puerto Vallarta and the Punta Mita golfing community.  To get the inside scoop, we interviewed Squire (virtually) to ask him about the current state of Puerto Vallarta’s luxury housing market, where the hotpots and hidden gems can be found, and where he sees local Real Estate moving in the future. Coldwell Banker Global Luxury How have you seen the market mature since you’ve been with CB La Costa? Brock Squire Without question, the real estate market has matured exponentially in Puerto Vallarta. The number and quality of amenities in the area, the quality of restaurants, shops, bars and clubs has definitely become much better and much more sophisticated. The quality and affordable healthcare has also made the prospect of full or part-time residency much more secure and interesting. With these improvements and changes has come a much more sophisticated level of residential offerings, which when compared to other parts of North America, are extremely well-priced. Coldwell Banker Global Luxury How would you characterize the luxury housing market in Banderas Bay and Puerto Vallarta right now? Brock Squire The traditional ‘high-end’ market in Puerto Vallarta is mostly concentrated on the South Shore about 5 to 20 minutes from ‘town.’ Over the past 6 to 8 months these free-standing villa properties in the $850,000 up to $3.5 million range have been typically selling in 30 to 100 days. There are very few oceanfront or beachfront properties available, most of which have been picked up inside the 30-day period often at full or over price. In this same area, high-end condominium residences – especially those considered beachfront – have been sold mostly in pre-construction before the buildings even get built. Prices on these 2 and 3 bedroom units range from about $600,000 to $1.5 million USD and would typically be 1,500 to 2,400 square feet in size with full amenity packages included. In the 1,700 acre Punta Mita Resort, located about 40 minutes north of the airport and characterized by the Four Seasons Punta Mita Resort Hotel, St Regis Resort Hotel and 2 amazing Jack Nicklaus Signature Golf Courses, prices are much higher. Large, beachfront Estate Villas are selling in the $12 million to $27 million range and smaller townhouse style and 3-bedroom luxury condos selling from $2 million to $5 million in a very brisk market with very little inventory currently available. Son Reve, a gated contemporary villa set within San Pancho’s gated community of Las Olas in Riviera Nayarit, offers 120 feet of sandy beach frontage and six bedrooms. Offered at $6,500,000. Son Reve Coldwell Banker Global Luxury Where have been the biggest areas of growth for your marketplace this year? Brock Squire The largest areas of growth have been in the Urban-Resort areas located in the Old-Town area of Puerto Vallarta now known as the Romantic Zone. Over the past year, there have been approximately 20 relatively small (20 to 60 units) condominium buildings built and sold out with about 10 more under construction at the present time. These units sell for between $200,000 and $700,000 and up. Coldwell Banker Global Luxury What’s driving the new wave of international relocations from your point of view? Brock Squire People are buying to enhance their lifestyle while at the same time working remotely. This trend in working from home has allowed folks to travel and relocate like never before. Coldwell Banker Global Luxury In your estimation, how many of your buyers are second homeowners vs. permanent residents? Brock Squire Second homeowners represent about 60 to 65% of our business, while people relocating permanently here represent about 35 to 40%. Coldwell Banker Global Luxury Are you beginning to see new demographics come into the market as well? Brock Squire Yes. The LGBTQ community is a large and growing part of the demographic here in Puerto Vallarta and drive new bars, restaurants, and shops. Coldwell Banker Global Luxury Where are buyers typically coming from? Brock Squire Mostly from North America. About 55% come from the United States, 25% from Mexico and about 12 % from Canada. Coldwell Banker Global Luxury What are some of the hottest luxury spots for ex pats right now? Brock Squire Without a doubt, Punta Mita! This resort encompasses over 1,600 acres with 16 different communities, Four Seasons Hotel, St Regis Hotel, two Jack Nicklaus Signature courses, five beach clubs, tennis center, fitness center, and walking paths throughout the entire area. A four-bedroom Four Seasons Private Villa in Punta Mita recently sold. Coldwell Banker Global Luxury And where are the good buys? Brock Squire Newly built or pre-construction sales of condominium buildings, found in areas like the Romantic Zone or Versalles, an up-and-coming neighborhood known for its incredible gastronomic experience. Coldwell Banker Global Luxury What has been the most surprising thing to you this year? Brock Squire The absolute strength in the market over the past two quarters. Villa Buenos Vientos in Nuevo Vallarta, Nayarit offers five spacious bedroom suites with private views of the lush manicured gardens and lazy canal. Offered at $1,999,000. Coldwell Banker Global Luxury Do you think resort markets like Puerta Vallerta will still have a larger impact on the luxury real estate landscape as a whole through 2021 and even into 2022? Brock Squire A lot will depend upon the direction of the COVID-19 waves. If it keeps under control, we will see the market continue through 2022. If not, we may start to see a drop in the real estate market. Coldwell Banker Global Luxury Where do you see the real estate market in Banderas Bay and Puerto Vallarta heading? Brock Squire We will continue to see strong growth in the region as we have now tipped beyond the small resort, high seasonality of the area. We will see continued growth across all sectors and especially the high-end markets mostly centered out towards and inside Punta Mita. The post Rise of the Escape Home: Wave of International Relocations Drives Puerto Vallarta’s Real Estate Boom appeared first on Coldwell Banker Global Luxury Blog - Luxury Home & Style.

By Alyson Pitarre

Rise of the Escape Home: Wave of International Relocations Drives Puerto Vallarta’s Real Estate Boom

International

Read More

August 31, 2021

Rise of the Escape Home: Wave of International Relocations Drives Puerto Vallarta’s Real Estate Boom

It’s official: we’re living in the era of the getaway property. Once viewed as a luxury reserved for the ultra-wealthy, escape homes are on the rise as many people seek out places of respite during the pandemic. The latest findings from NAR’s 2021 “Vacation Home Counties Report” prove it: Vacation home sales grew by 16.4% in 2020, and they’re still riding the wave of growth this year. Brock Squire, broker/owner of Coldwell Banker La Costa in Puerta Vallerta, Mexico, has found himself on the front lines of the trend. This year to date, there has been a 48% increase in the number of free-standing villas compared to last year, and a 94% increase in the number of condominiums sold, he says. Brock Squire, Broker/Owner of Coldwell Banker La Costa in Puerto Vallerta “Overall, the median price increased by 13% for attached homes while detached homes/villas have seen an 88% increase in median sales prices,” he noted. He credits several cultural changes with the sudden uptick in interest for Mexican vacation homes. “It goes a little deeper than just people being able to work from home,” he theorizes. “I think it’s about people’s realization that their families and health are really important. They see our market and how much house they can get for their money, and they realize that they can own a property they can visit again and again, while also being able to enjoy fun activities together.” Squire has watched as the Puerta Vallerta real estate market has surged over the decades. He has been deeply involved in the marketing and sales of high-end properties in the Puerto Vallarta area since the mid-1980s when he first relocated to the Mexican coastal retreat with his wife, Bonnie, from Vancouver, B.C. His firm, originally known as Brock Squire y Asociados subsequently became the first Coldwell Banker franchise in Mexico in 1998. Today, he manages three offices with over 80 agents spanning from the Bay of Banderas area to Puerta Vallerta and the Punta Minta golfing community. To get the inside scoop, we interviewed Squire virtually to ask him about the current state of Puerta Vallerta’s luxury housing market, where the hotspots and hidden gems can be found, and where he sees local real estate moving in the future. Coldwell Banker Global Luxury How have you seen the market mature since you’ve been with CB La Costa? Brock Squire Without question, the real estate market has matured exponentially in Puerto Vallarta. The number and quality of amenities in the area, the quality of restaurants, shops, bars and clubs has definitely become much better and much more sophisticated. The quality and affordable healthcare has also made the prospect of full or part-time residency much more secure and interesting. With these improvements and changes has come a much more sophisticated level of residential offerings, which when compared to other parts of North America, are extremely well-priced. Coldwell Banker Global Luxury How would you characterize the luxury housing market in Banderas Bay and Puerto Vallarta right now? Brock Squire The traditional ‘high-end’ market in Puerto Vallarta is mostly concentrated on the South Shore about 5 to 20 minutes from ‘town.’ Over the past 6 to 8 months these free-standing villa properties in the $850,000 up to $3.5 million range have been typically selling in 30 to 100 days. There are very few oceanfront or beachfront properties available, most of which have been picked up inside the 30-day period often at full or over price. In this same area, high-end condominium residences – especially those on the beachfront – have been sold mostly in pre-construction before the buildings even get out of the ground. Prices on these 2 and 3 bedroom units are ranging from about $600,000 to $1.5 million and would typically be 1,500 to 2,400 square feet in size with full amenity packages included. In the 1,700-acre Punta Mita Resort, located about 40 minutes north of the airport and characterized by the Four Seasons Punta Mita Resort Hotel, St Regis Resort Hotel and 2 amazing Jack Nicklaus Signature Golf Courses, prices are much higher. Large, beachfront Estate Villas are selling in the $12 million to $27 million range and smaller townhouse style and 3-bedroom luxury condos selling from $2 million to $5 million in a very brisk market with very little inventory currently available. Son Reve, a gated contemporary villa set within San Pancho’s gated community of Las Olas in Riviera Nayarit, offers 120 feet of sandy beach frontage and six bedrooms. Offered at $6,500,000. Son Reve Coldwell Banker Global Luxury Where have been the biggest areas of growth for your marketplace this year? Brock Squire The largest areas of growth have been in the urban resort areas located in the Old Town area of Puerto Vallarta now known as the Romantic Zone. Over the past year, there have been approximately 20 relatively small (20 to 60 units) condominium buildings built and sold out with about 10 more under construction at the present time. These units sell for between $200,000 and $700,000 and up. Coldwell Banker Global Luxury What’s driving the new wave of international relocations from your point of view? Brock Squire People are buying to enhance their lifestyle while at the same time working remotely. Coldwell Banker Global Luxury In your estimation, how many of your buyers are second homeowners vs. permanent residents? Brock Squire Second homeowners represent about 60 to 65% of our business, while people relocating permanently here represent about 35 to 40%. Coldwell Banker Global Luxury Are you beginning to see new demographics come into the market as well? Brock Squire Yes. The LGBTQ community is a large and growing part of the demographic in Puerto Vallarta and drive new bars, restaurants, and shops. Coldwell Banker Global Luxury Where are buyers typically coming from? Brock Squire Mostly from North America. About 55% come from the United States, 25% from Mexico and about 12 % from Canada. Coldwell Banker Global Luxury What are some of the hottest luxury spots for ex pats right now? Brock Squire Without a doubt, Punta Mita! This resort encompasses over 1,600 acres with 16 different communities, Four Seasons Hotel, St Regis Hotel, two Jack Nicklaus Signature courses, fivebeach clubs, tennis center, fitness center, and walking paths throughout the entire area. A four-bedroom Four Seasons Private Villa in Punta Mita recently sold. Coldwell Banker Global Luxury And where are the good buys? Brock Squire Newly built or pre-construction sales of condominium buildings, found in areas like the Romantic Zone or Versalles, an up-and-coming neighborhood known for its incredible gastronomic experience. Coldwell Banker Global Luxury What has been the most surprising thing to you this year? Brock Squire The absolute strength in the market over the past two quarters. Villa Buenos Vientos in Nuevo Vallarta, Nayarit offers five spacious bedroom suites with private views of the lush manicured gardens and lazy canal. Offered at $1,999,000. Coldwell Banker Global Luxury Do you think resort markets like Puerta Vallerta will still have a larger impact on the luxury real estate landscape as a whole through 2021 and even into 2022? Brock Squire A lot will depend upon the direction of the COVID-19 waves. If it keeps under control, we will see the market continue through 2022. If not, we may start to see a drop in the real estate market. Coldwell Banker Global Luxury Where do you see the real estate market in Banderas Bay and Puerto Vallarta heading? Brock Squire We will continue to see strong growth in the region as we have now tipped beyond the small resort, high seasonality of the area. We will see continued growth across all sectors and especially the high-end markets mostly centered out towards and inside Punta Mita. The post Rise of the Escape Home: Wave of International Relocations Drives Puerto Vallarta’s Real Estate Boom appeared first on Coldwell Banker Global Luxury Blog - Luxury Home & Style.

By Alyson Pitarre

The EV Supercar Concepts and Hybrids That Stole the Show at Monterey Car Week

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August 24, 2021

The EV Supercar Concepts and Hybrids That Stole the Show at Monterey Car Week

Monterey Car Week wrapped up on August 15, 2021 with the return of the Pebble Beach Concours d’Elegance. Now in its 70th year, the show closed with a black 1938 Mercedes-Benz 540K Autobahn Kurrier winning “Best in Show.” But it was the all-electric supercar concepts and high-performance hybrids that truly stole the spotlight. Audi Skysphere The first of three new autonomous ‘Sphere’ concepts from Audi, the Skysphere is more transformer than EV concept. With the touch of a button, the car transforms from a sporty roadster to a smooth grand tourer that drives itself while passengers relax. That means the driver can “choose their own driving experience,” says Audi. “Either they pilot their 4.94-meter-long e-roadster themselves in ‘Sports’ mode with a reduced wheelbase, while the rear-wheel steering ensures that the vehicle remains extremely agile despite its dimensions. Or they can choose to be chauffeured around in a 5.19-meter GT in the autonomous ‘Grand Touring’ driving mode while enjoying the sky and the scenery, maximum legroom, and the services offered by a seamlessly integrated digital ecosystem.” The long-bonnet, short-deck styling takes design cues from 1930s roadsters — but that’s where the nod to history ends. A look under the hood and the electric drive components tell a different story. Between the front axle and the windshield, there’s the charger and the DC/DC converter, plus actuators and electronic and mechanical components for the adaptive wheelbase. The designers even added a spacious trunk for two golf bags. But it’s all about the drive and the distance for an EV concept car, right? The drive system in the Skysphere delivers 465 kilowatts of power and 750 Newton meters of torque. It’s possible to reach acceleration from 0 to 100 km/h in just four seconds. Production-Ready Pininfarina Battista The first production version of the Pininfarina Battista electric supercar made its long-awaited debut during Monterey Car Week. Finished in exposed carbon fiber with black gloss wheels, the production car has an interior made of sustainable black leather with contrasting blue stitching. The Battista features an 1,877-hp powertrain from Rimac, which is using a similar setup for its rival Nevera electric hypercar (more on that below). The powertrain is comprised of four electric motors and a 120-kilowatt-hour, T-shaped battery to deliver 1,696 lb-ft of torque and a 0-60 mph time in less than 2.0 seconds. It’s the most powerful and quickest-accelerating road car to come out of Italy. Pininfarina says it will build 150 examples of the Battista at a $2.2 million sticker price. Rimac Nevera Hailed as “a next-generation all-electric hypercar,” the Rimac Nevera made its official U.S. debut during Monterey Car Week.  This $2.44 million supercar “opens up new dimensions in road car performance,” according to Rimac. With 1,914hp from four electric motors, Nevera can accelerate to 60mph in 1.85 seconds and to 100mph in just 4.3 seconds. It maintains its eye-widening acceleration throughout a full-throttle cycle, achieving 186mph (300 km/h) from rest in 9.3 seconds. The Nevera is designed, developed and built in-house at Rimac Automobili in Croatia, and comes by its name (taken from a powerful Croatian storm) honestly: the electric hypercar recently completed a quarter-mile in 8.58 seconds, with a top speed of 167.51 mph, beating out the Tesla Model S Plaid for the record and subsequently making it the fastest accelerating production vehicle on the market today. Lamborghini Countach LPI 800-4 Lamborghini decided to pay homage to the iconic Countach with its all-new LPI 800-4, built with a hybrid powertrain capable of reaching 60 miles per hour in 2.8 seconds and a top speed of 221 mph.  While the new hybrid was just a revival of the existing Countach chassis, the ultra-limited production and retro inspiration were enough to get Lamborghini fans excited. All 112 models of the $2.64-million LPI 800-4 are already sold out. Bentley Flying Spur Mulliner Also exciting Bentley fans was the debut of the luxury British automaker’s first hybrid Flying Spur Mulliner. The four-door luxury grand tourer has all of the signature bells and whistles of its former counterparts but with a 2.9 liter V6 hybrid engine. Equipped with an electric motor, the engine allows the grand tourer to accelerate from 0-60 mph in 4.1 seconds (0-100 km/h in 4.3 seconds) with a top speed of 177 mph (285 km/h). Maybe it’s not the fastest Mulliner, but it’s certainly the most eco-friendly. The high-end hybrid brings Bentley one step closer to its Beyond100 plan, which seeks to become carbon-neutral with an entirely electrified range by 2023. The post The EV Supercar Concepts and Hybrids That Stole the Show at Monterey Car Week appeared first on Coldwell Banker Global Luxury Blog - Luxury Home & Style.

By Alyson Pitarre

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