Butterfly Residential, specialists in luxury property sales and rentals in London, Spain and Barbados, bring you the latest news stories about luxury property around the world

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Global Luxury Property Review
May 2013
World’s most expensive property prices set to soar
The value of residential property purchases over £10
million in the world’s top financial hubs of London, New
York, Hong Kong and Singapore is set to grow by 27% in
the next five years according to a report released today
by developers Candy & Candy.
The research, which has been produced by Candy &
Candy, Savills and Deutsche Bank and examines the
recent and immediate future of ultra prime property
markets in these four cities which are regarded as being
at the forefront of global private wealth flows.
The ultra prime housing markets in London, New York,
Hong Kong and Singapore collectively witnessed more
than 300 residential real estate transactions in 2012
where the price was over £10 million, according to latest analysis from international
real estate advisor Savills.
Together, the value of those transactions exceeded £6.6 billion. The 300 sales over £10
million seen in 2012 are expected to grow to 400 per year by 2017 with a total value of
£8.4 billion.

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This growth is expected to be both organic and incremental as areas considered ultra
prime expand and as new ultra prime stock is built to expand the existing finite supply,
and above all, driven by the direct impact of global wealth increases and subsequent
investment in top real estate.
Source: www.propertywire.com
Foreign buyers encouraged to London by safe haven
status
The weak pound has made property in
prime central London even more enticing
to foreign investors seeking safe havens
and will continue to do until 2018,
according to Knight Frank’s latest London
Residential Review.
Prime central London residential property
prices rose 0.7% in April, and have been
rising now since November 2010, the
report reveals.
It says that much of this rise is underpinned by the demand from overseas buyers who
accounted for 52% of all £2 million plus homes sold in the sector between March 2012
and March 2013.
Source: www.propertywire.com
Aberdeen Asset Management acquires Kings Place and
Conquest House for £31 million
Rockspring Property Investment Managers (“Rockspring”) announce that they have
sold Kings Place and Conquest House in Kingston-Upon-Thames to a private client of
Aberdeen Asset Management for £31.05 million reflecting a net initial yield of 6.85%.
Kings and Conquest House is the largest of five buildings which made up the 252,000
sq ft South East office portfolio acquired by Rockspring’s UK Value Fund in February
2011 from St Martins. Savills acted on behalf of St Martins at the time. Following

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acquisition, the asset was subject to a substantial refurbishment to provide 90,000 sq
ft of Grade A offices, with ancillary retail space on the ground floor. The entire office
space was pre-let to leading multinational oil company Saipem for its UK headquarters
on a 15 year lease.
Robert Godfrey, director of Savills, says: “Aberdeen are delighted to have bought this
Grade A office building let on a long lease to a strong covenant at a low rent relative to
other suburban London locations. We believe this investment has good growth
prospects and opportunities to buy buildings of this quality at such a low capital value
per sq ft are rare in the South East let alone Greater London.”
Source: www.savills.co.uk
Spain Attracts Foreign Luxury Property Buyers
New figures show that Spain is still the top
holiday destination in Europe.
Eurostat, the Statistical Office of the
European Union, found that in 2011 some
13% of all outbound trips within Europe
where made to Spain with Italy and France
coming in joint second place. These figures
do not include holidaymakers outside of the
EU, however, and total visitor numbers are
likely to be much higher.
Estate agents believe it is good news for the property market as buoyant tourism
sectors often driving local property markets and statistics from the Bank of Spain show
that international property investment in Spain grew by 17% to more than €5,445
million in 2012.
Spanish house builder Taylor Wimpey España’s sales and marketing director Marc
Pritchard said ‘Marbella in particular is one of the most popular places for foreign
nationals to buy property in Spain. We have experienced a 300% year on year increase
in sales in the area, proving that demand for Spanish real estate shows little sign of
abating anytime soon, with non residents of the country increasing their market share
for six consecutive quarters now.’
Read more: www.propertywire.com

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Other Luxury Property News
Hamptons Home Sales Jump
Home sales in the Hamptons, the Long Island beach retreat for summering
Manhattanites, rose 21 percent in the first quarter, led by lower-priced properties
after a year-end selling rush drained the area of luxury deals.
Read more: www.businessweek.com
Luxury launches and positive outlook in Dubai
Dubai-based luxury real estate developer Emaar Properties recently launched its latest
high-end residential project, offering buyers the opportunity to own a unit in the
exclusive The Address Residence Fountain Views ‘Sky Collection’.
Read more: www.property-report.com
Foreign buyers propel Montreal’s luxury home market
Roughly half the buyers of luxury homes in Montreal are foreign, Sotheby’s
International Realty Canada estimates, after having combed through its own sales data
about top-tier dwellings.
“Montreal was a bit of a shocker,” chief executive officer Ross McCredie said. “People
don’t think of Montreal as having a large proportion of international buyers.”
Read more: www.theglobeandmail.com
Sydney Luxury Housing Stirs
Sydney’s luxury-home market is reviving, with two harborside mansions -- one of
which was offered for more than A$50 million ($51 million) -- selling in the past month
and realtors reporting a jump in buyer inquiries.
Read more: www.bloomberg.com

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Property Spotlight
Luxury Villa in Nueva Andalucía, Marbella, Costa del Sol
This stunning and extremely
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all with en-suite bathrooms
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For more details and photographs of this exclusive luxury property in Marbella, visit
the Butterfly Residential website
About Butterfly Residential
The Global Luxury Property Review is a monthly article compiled by Butterfly Residential
offering a snapshot of the sector. Butterfly Residential is a boutique, professional, high-end
property company specialising in sales and rental of luxury property Marbella, London and
Barbados, among others. Butterfly Residential is headed by Edward Fairless and Nicola
Fairless, a brother and sister team who are the new sensation in the global luxury property
sector.
Address: Avd. Ricardo Soriano 72, Edf. Golden, Portal C, 2º H, 29601 Marbella, Málaga, España
Email: info@butterflyresidential.com Web: http://butterflyresidential.com
Tel: (+34) 662 258 896 Tel: (UK) 0208 1444 383 Skype: butterflyresidential