1 | P a g e

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.

2 | P a g e

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

3 | P a g e

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

4 | P a g e

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

5 | P a g e

Property Spotlight

Luxury Villa in Nueva Andalucía, Marbella, Costa del Sol

This stunning and extremely

spacious 6 double bedrooms,

all with en-suite bathrooms

luxury south facing private

villa situated on an elevated

plot in the golf valley

surrounded by a mature

landscaped garden. This

magnificent property enjoys

180 degree panoramic views over the golf valley and Mediterranean Sea. Set in La

Cerquilla, an exclusive residential area of Nueva Andalucia, this desirable address is

just a few minutes away from the vibrant Puerto Banus, Marbella and all kinds of

amenities such as international schools, commercial centres, restaurants, bars and of

course the beach.

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