MAKING THE RIGHT MOVE
Welcome to the latest edition of Peak Property. Once again we’re approaching the subject of the second home; this time from both an urban/investment point of view, as well as from a rural, passion project perspective.
On the passion side of things, our correspondent Elizabeth Kerr delves into the options for buying wineries. There is no shortage of estates available for those who wish to take a passion for wine and turn it into something more. And while buyers have traditionally turned to French estates, since many recognisable names are from Burgundy and Bordeaux, this may be slowly changing. Some truly remarkable estates have recently come onto the market in Spain, Italy and California, where a fantastic property in Napa Valley will let you live like a Roman emperor – all within driving distance of downtown Los Angeles.
Speaking of the United States, we also get the lowdown on secondtier cities in the US, where property markets, especially at the high end, are presenting investors with some interesting opportunities. Dalian Wanda has invested an enormous sum to develop a US$900 million (HK$6.97 billion) luxury apartment complex in Chicago – the largest investment by a Chinese company in the city, and the largest property project by the company in the US. Opportunity abounds in the US, away from established property markets in New York, San Francisco and Los Angeles.
Finally, we look at the kitchen. Experience teaches that, when you host a good party, this is where people will end up. This is exactly why designer labels such as Armani and Fendi are bringing their special touch to this all-important part of the home.
Home is where the heart is, and with that, I hope you find inspiration in this issue of Peak Property.