What property features are HNW house hunters looking for?

From waterfront views to private pools, in-house chefs to wine cellars, the world’s super-rich home buyers have a slightly different list of property requirements compared to the average buyer.
Research from leading high-net-worth (HNW) mortgage broker Enness Global has revealed which luxury property features have seen the biggest surge in popularity since the start of the year.
Most popular property features 
Wherever you are buying at the top end of the market, the same property features appear to hold the greatest interest amongst buyers.
New-builds, a spa, a furnished property, a garage, a garden, a good view and a waterfront property consistently ranked in the top five features across London, Monaco, Singapore, New York, Honk Kong and Dubai.
A new property was of the greatest interest to buyers in London, Singapore, New York and Hong Kong.
In Monaco, unsurprisingly with space at a premium, homebuyers searching for a property with a garage was by far the most sought-after requirement, even double that of the next most popular search term: ‘new’.
Biggest increases in interest
However, while these traditional property features will always hold a strong level of interest, a number of additional features have seen a sharp uplift in buyer search interest so far this year when compared to the same time last year.
Sea views, a library, private pools, upgraded and modern homes, home gyms, a wine cellar, a chef, security, a games room and a sauna are some of the most common features to have seen an increase.
In London, searches for properties with upgraded specifications above and beyond that of the regular home have seen the largest increase (+67%), along with wine cellars (+50%) and home gyms (+28%).

Interestingly, in Monaco, searches for a sauna have seen a surge (+122%), with both a sea view (+77%) and a view in general (+45%) also growing in popularity, perhaps due to the fact that people were confined to their properties for a number of months this year.
In Singapore, homes with a games rooms have seen the largest uplift in interest (+118%), while in New York private pools (+245%), home gyms (158%) and wine cellars (+42%) have increased in popularity.
In Hong Kong, searches for homes with a garage (+731%), sea view (+205%) and library (+113%) have increased the most, with a sea view (+368%) and a library (+184%) also increasing in popularity in Dubai, along with private pools (+166%).
“For most of us, an affordable asking price and a pleasant property are the biggest requirements when house hunting, but this certainly isn’t the case when it comes to the super-rich,” says Hugh Wade-Jones, managing director of Enness Global Mortgages. “That said, even at the very top end of the market, homebuyers tend to prioritise the same key features as most of us. A garage, a garden, perhaps some furnishings and a pleasant view are the foundations of most property searches.”
“But above and beyond these basic needs, it’s interesting to see what has now grown in popularity with current buyers when compared to this time last year,” adds Mr Wade-Jones. “With the current pandemic impacting all of us, features to enhance health and social wellbeing are rapidly growing in demand. Today’s high-end homebuyer wants a clean, new home, with modern features and appliances. They want an enhanced level of security and they want health and fitness outlets such as spas, gyms and pools. Throw in a fine wine cellar and a games room and you’re ticking almost every box.”
 
Photo: Spacious villa in Provençal countryside

 
 
 

Monaco's tick of approval for safety

The government is hoping to lure visitors back to the Principality with its new ‘Monaco Safe’ label, a guarantee that businesses are following strict health measures set out by the State.
The Prince’s government launched the ‘Monaco Safe’ label on Wednesday 8th July in an effort to boost economic recovery amid the Covid-19 crisis.
The aim is for customers to feel reassured that businesses brandishing the label are complying with the strict health rules in force to fight against the spread of Covid-19 in Monaco.
The label will be awarded to shops, hotels, restaurants, congress centres and all places that welcome the public.
“This is an additional asset available to tourism professionals and traders: the Principality of Monaco is safe and attractive, and it will continue to be so,” said the Government in a statement.
In addition to promoting the ideal image of the Principality, it is hoped the label will serve to unify all companies with the common goal of contributing to the economic recovery of Monaco in complete safety.
The label can be obtained on a voluntary and free basis, quickly and easily via the website: https://teleservice.gouv.mc/monaco-safe/
The Department of Sanitary Action is responsible for conducting checks to confirm the issuing of labels.
Companies will then be able to use the ‘Monaco Safe’ logo in their own communication, while the campaign will be promoted by the State and various bodies including the Tourism and Congresses Department, the Welcome Office and the Monaco Economic Board, to ensure the ‘Monaco Safe’ label is recognised internationally.
 
Photo from left to right: Head of the Welcome Office and the Covid-19 Entreprises unit Laurence Garino, Minister of Social Affairs and Health Didier Gamerdinger, and Deborah Ouzemane of the Division of Health and Food Security © Communication Department / Michael Alesi
 
 

Time to rediscover Monaco-Ville

Faced with a virtually non-existent tourist trade, merchants on the Rock are organising a series of festive evenings to encourage locals to visit Monaco’s historic heart and help support small businesses.
The Rock is traditionally one of the busiest areas of Monaco, a hotspot for tourists who flock to see the Palace, Cathedral and Oceanographic Museum, and to wander through the charming streets of the old town.
However, amidst the Covid-19 crisis and the cancellation of cruise ships into Monaco, visitor numbers are barely registering.
Now, the shopkeepers and restaurateurs have joined forces with UCAM (Union des Commercants et Artisans de Monaco) to organise festivities in an effort to attract locals and inject some money into small businesses.
The first edition of Jeudis du Rocher will take place on Thursday 16th July and feature entertainment from the Prince’s Carabinieri Orchestra trio. Shops will be open until 8pm and a happy hour will be offered from 6pm to 8pm.
In addition to reintroducing the Rock to locals, it is hoped the evenings will help boost morale among disheartened retailers and restaurateurs, as they wait anxiously for the tourists to return.
 

New startups to benefit from MonacoTech

The MonacoTech startup incubator has unveiled five new projects it has selected to join its programme, two of which were established right here in the Principality.
MonacoTech is designed to help innovative, high-growth potential and social impact projects take off, gain traction and scale up. It was co-founded in 2017 by the Prince’s government, Monaco Telecom and Xavier Niel, and offers a tailor-made program, networking opportunities and the continuous support of mentors and key professional players.
Of the 38 applications from 13 nations received this year, the panel has made its decision. Five startups were chosen to join the MonacoTech programme – projects that must echo the Principality’s economic values ​​and strategies, and help position Monaco as a major player in certain sectors of innovation.
With these new additions, MonacoTech will now represent the following sectors: AdTech, Applications, Augmented Reality, BioTech, GreenTech and Transport, FinTech, MedTech, RegTech and Yachting.
The five selected projects are:
Air Ion
This company from Switzerland specialises in the design of military Rotary Unmanned Aerial Vehicles (RUAVs), otherwise known as drones, and 100% electric helicopters. www.airiontec.com
Carlo
This application is designed to develop local commerce through increased traffic and a cash back scheme for customers. As revealed in our interview with Carlo app creator Antoine Bahri, the app is currently available in Monaco and is being tested in Barcelona. www.carloapp.com
Mea Plant
Developed by Italian researchers, Mea Plant is an innovative soilless growing solution using a non-absorbent substrate. www.meaplant.com
PKS
This RegTech project was established in Monaco and is intended to create ad hoc solutions allowing different entities to be in compliance with the laws applicable to a specific activity.
Vizua 3D Entertainment
The French/North American startup takes augmented reality to a whole new level, offering a collaborative cloud platform for the visualisation and dissemination of 3D content for professional applications or the general public. www.vizua3d.com
Meanwhile, a sixth startup, offering innovative technology in the field of security and data management, could also join MonacoTech. The challenges and specificities linked to its activity, however, require an in-depth study, which is still ongoing.
The integration of the startups into MonacoTech is planned for August 2020, bringing the total number of startups currently incubated in the Principality to 20.
 
Top photo: 3D design by Vizua 3D Entertainment
 
 

Exceptional year, outstanding results

Monaco’s students have done the Principality proud, achieving remarkable results in the 2020 Baccalaureate.
The government was pleased to announce on Tuesday an overall pass rate of 99.53% for the general, technological and professional series, and 360 honours for 427 students, or 84.31%.
It was, of course, an exceptional year for the ‘bac’ students. As a result of the lockdown and in line with the French Education Department, students’ final scores were based on an average of the results of the first two terms of the year.
For the general series, 100% of the pupils of the lycées Albert Ier and François d´Assise – Nicolas Barré passed their exams, including 244 (86.83%) with honours.
With regard to the technological series, 98.15% of the Lycée Albert Ier and the Lycée Technique et Hôtelier de Monaco students passed their exams, including 42 with honours (77.78%).
There were also very good results in the professional series, with a success rate of 98.91% for the hotel, industrial and tertiary sectors with 74 honours (80.43%).
“The excellent results recorded in this 2020 edition demonstrate once again the sense of commitment of the entire educational community of public and private high schools under contract in the Principality,” said the Prince’s government in a statement. “The flawless professionalism and great dedication of the teaching and non-teaching staff were decisive in the support of all the students during the school year and, more particularly, during the period of confinement. The Prince’s Government sends its sincere congratulations to the 2020 winners for their remarkable performances.”
 
Photo: Minister of the Interior Patrice Cellario and Director of National Education for Youth and Sports Isabelle Bonnal announcing the results on Tuesday, credit: Communication Department / Manuel Vitali