7 minute read
Remote realms Second homes in extreme destinations
Remote realms
For a second home with serious verve, escape to these extreme destinations
Words: Cheryl Markosky
Anthony Lassman of Nota Bene Global, a private client service which organises travel and uncovers prime real estate for ultra-wealthy individuals, believes “the experience of travel is the currency of status, from ash-boarding down a Nicaraguan volcano to deep-sea fishing with orca whales. And when a traveller discovers the right destination, he might well buy a home.”
Anthony’s crowd wants off-the-beaten-track bespoke – salmon fishing on Iceland’s rugged Tolle peninsula, and authentic Nevis over St Barths. “When Prada and Gucci arrived in Gustavia harbour, it was time to move on,” he said. That’s not to say upscale wanderers don’t want “to get dressed up all soignee” occasionally, but many don’t want to show off. One client could afford a classy St Tropez domain. An avid cook, he opted instead for a humble abode near food markets.
Affluent adventurers can be who they want to be on Bequia in St Vincent & the Grenadines,
explained Michelle Bass Bellegarde of Sotheby’s International Realty. “They can wake up to the sunrise and the crashing Atlantic waves, eat at some little fish place and connect with family and nature.”
Michelle noted that extended families can gather in a grand central space in the main house at Hope Bay Estate – the most remote spot on the island – and sleep in separate lodges surrounded by five acres for extra privacy.
Explorers frequenting ranches in far-flung Patagonia get to know and then buy them. “Homesteads in the mountains aren’t fancy,” said Andrew Amos at Remind Group, Christie’s affiliate in Argentina. “Foreigners like the simplicity, along with sheep, gauchos, good wine and meat.”
You can pick up an expansive ranch in Patagonia for $1m. As well as a home being more profitable in the middle of nowhere, “most places don’t have internet so you can escape Brexit and Trump,” Andrew added. »
Adventure and good value homes can be found at Lake Morentino
Hope Bay Estate
Hope springs eternal at this stunning lodge and four adjacent single-bedroom mini-lodges overlooking an unspoilt beach on the Grenadine island of Bequia. Quaint and bright, Little Hope is anything but a guesthouse, with two double and two twin bedrooms – all with en-suites – and its own infinity pool. On sale for $8.5m (£6.3m).
sothebysrealty.com
Motukawaiti Island
Your very own 93.67-acre isle, a short boat ride from New Zealand’s Matauri Bay. The Robinson Crusoe-esque former luxury lodge inventory includes a three-bedroom homestead, two new apartments, commercial kitchen, wharf, battery power source and roof-water collection system. On the market for NZ$16m (£8.2m). »
Lake Morentino
Head for the Patagonian hills where adventure and good value looms large. A modern lakeside four-bedroom house, made of traditional lenga wood and stone, faces Tronador Mountain. Nearly 5,000-square feet, it comes with a second dwelling containing another two bedrooms in staff quarters at the top. Buy it for $3.7m (£2.7m).
The Floating Seahorse
Nautical buccaneers can dive straight into the world’s first luxury underwater scheme off Dubai’s The World. You can enjoy a Blue Planetlike existence observing brightly coloured fish and other marine life skittering around the coral reefs from the four-bedroom, three-storey, customised drifting home. Yours for AED15m (£3m).
primenewdevelopments.com
Second to NONE
Thinking of buying a holiday home? Turn it into an investment by following these tips on how to make your second home pay for itself
Words: Nicola Venning
Aholiday home abroad can be a great addition to an investor’s property portfolio. And while a second property may be unoccupied a lot of the time, it still incurs a variety of running costs, so letting it out when you’re not using it makes a lot of sense. Regular vacation rentals can cover overheads and often bring in a little more besides. Reassuringly, it also means that an expensive property is not sitting empty for long periods of time. “It’s a growing trend,” revealed Meredith Bell of One Fine Stay, a high-end letting agency for second home owners. “Owners enjoy the idea of their holiday homes being used and also being checked on regularly.”
To gain maximum rental yield on your investment, it’s important to consider a number of factors. Whether you’re investing in a ski chalet or a beachside escape (or both), there are a few fundamentals that almost guarantee a good return. From location and nearby services to decor and natural light, we unveil what to look for when shopping for a new holiday home in 2018.
Location, location
Location is very important if a holiday home is to let successfully. A rental property needs to be easily reachable, and ideally be within two hours of a major international airport. It also needs to be close to everything that matters – a beach villa needs to be by the beach, while a city apartment must be central and mountain chalets should be near a ski lift. For year-round income, look at city-beach destinations such as Barcelona, Bordeaux or, for value, Lisbon. Savills also recommends Venice, Florence and, more affordably, Lanzarote. Popular dual-season alpine resorts such as Chamonix and Courchevel have a range of properties at different price points, while St Lucia and Kitts and Nevis in the Caribbean are more affordable than islands with more mature property markets.
Light and views
Consider a holiday home’s orientation – will it have sufficient light all year round? A mountain home which faces north might not see any sunshine for months during the winter and early spring, for example. Similarly, a bolthole in the sun will need shade at different times of day, so investing in properties with different areas of outdoor space works best. Guests “wake up with the sun in the morning on the back balcony and get it (later in the day) on the front balcony”, said Michael Green, sales director at The Landings, a resort of one to three-bedroom villa suites, in St Lucia. Residences with great views are more expensive to buy than those without. However, a stunning vista will help a home let quickly and at a higher rate – sometimes more than 30% than a home without a view.
Décor, fixtures and fittings
Holidaymakers are looking for space, character and comfort. “Attention to detail is really important and great interior design is an absolute priority,” said Morgan Bientz, managing director of Alpine Residences, which specialise in letting luxury self-catered chalets in the French Alps. High quality fixtures and fittings, (think Grohe, or Miele) marble bathrooms and kitchens with granite worktops are de rigueur. Some top agencies not only add extras such as additional bedside lights if needed, but even check the water pressure. While neutral colour schemes are the safest bet, splashes of wellplaced colour are welcoming and fun. Log fires in snow homes, terrace plunge-pools in beach apartments, not forgetting BBQ’s and outdoor fires, can all make a home stand out. Broadband needs to be high speed, reliable and free. Bedrooms with en suites are also preferred as people are used to it in hotels and want it in the homes they rent, too.
The small print
Holiday lettings can be time consuming and bureaucratic: meeting, greeting and handing over keys to guests, are just the basics. A rental property also needs be cleaned regularly, well-maintained and effectively marketed. Most owners therefore, use a letting agent. Many holiday developments have rental pools which owners can opt into and which will manage all aspects of renting out a holiday home.
Letting agents’ fees vary from about 15%-20% for basic booking to 50% for a full 24/7, property management service. However, David Bhagat, director of Alpine Property Search says owners whose homes “tick all the boxes”, can expect a yield of about 3%. “You won’t get rich renting it out,” he said, “but you should cover your costs.”
