The meltdown seems to have melted away and the super rich are back to the luxury property market with a vengeance. In the recent past, Hong Kong and London has witnessed some record prices being paid for exclusive properties. Now we may be witness to the biggest property sale of all time. The sale of the lavish 17,500 sq ft Monaco penthouse La Belle Epoque by British property developer brothers Christian and Nick Candy and the price tag is not ordinary either – €240 million (£199 million), paid by an unnamed Middle Eastern investor.
Monaco, Saint Tropez and Cap Ferrat have all seen witnessed an increase in the prices of luxury homes this summer. There was no official word from the developers of this property as their spokesman refused to comment. The building is perhaps the best known in the principality and dates back to the pre war glorious days of Monaco.
The penthouse that occupies the top two floors of a block of flats has been redone completely. Each suite in the penthouse has its own cinema, kitchen, dressing room and two bathrooms. The penthouse also has a spa, library and gardens. The only shadow on this brilliant property is the painful death of it earlier owner, Edmond Safra in 1999 in a fire in the penthouse.
Via: The Standard