Trophy Real Estate
If you want to get technical, trophy real estate refers to roughly the top 2% of properties. This hierarchy can be organized by price, location, demand, or other influences on market value. It’s easy to classify these properties by the numbers. But sometimes, knowing you’re viewing a trophy property is as simple as stepping across the threshold.
Thinking about adding another trophy to your investment portfolio? Read on to learn why your next acquisition should be located in Hawaii.
Ultraprime Property Sales
A recent study published in Forbes Global Properties looked at the top 100 most expensive real estate sales in 2022.
According to the study, major global cities accounted for 58 of the top 100 sales. This percentage is hardly surprising. Despite geopolitical uncertainty and innovations in remote working, it pays to live (or at least own) in places where you can grow your networks.
But you know what they say about all work and no play… and apparently, so do the world’s richest. Out of these top 100 sales, over a third of the properties were located in “prized jet-set vacation destinations.”
Hawaii might not have the exotic appeal of Dubai or the Maldives. But if you’re reading this blog, I have a sneaking suspicion that the Aloha State has already won you over.
(Besides, we still make the Forbes Travel Bucket List, which describes the Hawaiian Islands as “pure paradise” and a place where you can “explore colorful canyons and waterfalls and eat your body weight in fresh poke.”)
My point is: on the Big Island, you can have both never-ending vacation vibes and a luxury everyday lifestyle.
Why You Should Purchase Your Next Trophy Home in Hawaii
Before I sell you on Hawaii, I want to stop in a city fit for a king: London. Bloomberg News highlighted a record-breaking trend currently happening in Mayfair.
In January of this year, 15 Mayfair homes sold for more than US$6 million each. Sure, the weakened pound has something to do with this real estate event. But something else is at play.
Trophy homes offer excellent investment opportunities. As they grow your equity, they can also save you money. Think about it this way. If you visit London several times a year, you’re going to wrack up a not-insignificant annual bill on high-end hotels.
So why not apply this logic to Hawaii? Sure, you’ll miss out on the tea, crumpets, and miserable weather. But on the Big Island, you can have mai tais, fresh macadamia nuts, and yearlong warm temperatures.
Live Like Royalty
If you don’t have to worry about high mortgage rates, trophy properties are a very attractive, practical, and enjoyable addition to your investment portfolio. Plus, I’m here to tell you that US$6 million will get you a lot more space in the land of King Kamehameha than in His Majesty’s city.
When you’re ready to live like royalty, contact me to discuss high-end homes currently available on the Big Island.
Aloha, and welcome to Hawaii.