JAALifestyle Real Estate April 2022 by jaalifestyle

APRIL 2022 — THE ULTIMATE IN LUXURY REAL ESTATE

A LUXURIOUS BUSINESS

JAA Lifestyle | Luxury Real Estate | April 2022

The information available in the JAALifestyle magazines constitutes general information and is not intended as, nor does it constitute, financial, tax, legal, investment, medical or other advice. Image credits: Jumeirah (jumeirah.com); Tiny Heirloom (www.tinyheirloom.com); Visit Big Sky (www.visitbigsky.com); ©bloodua/123RF.COM; Gröner Group (groener-group.com); ©mazzzur/123RF.COM; Marina Bay Sands

JAALifestyle | Luxury Real Estate | April 2022

FROM THE TEAM

ear Lifestylers, April and Q2 will be truly eventful. Our US partners are busy finalising arrangement for the JAALifestyle’s US listing. As anticipated, many more Lifestylers have

verified their phone numbers and qualified to earn Futures Shares and Zhaka Bonuses by purchasing various packages when the promotion’s closing date was extended to 1 March 2022. All those who have received Future Shares must do their PV without which they cannot qualify to earn real shares when JAALifestyle goes public. EEHHAAA.com launched a refreshing new look and feel to their website. It looks truly professional, inspiring and is much easier to navigate. The EEHHAAA advertising platform has also undergone a major revamp. Viewers and potential advertisers have given them glowing positive feedback. The EEHHAAA Team is busy finalising a comprehensive process to make EEHHAAA the most unique and effective way for advertisers worldwide to promote their products and services, which in turn will provide millions of viewers in all countries the opportunity to earn sustainable cash income. Meanwhile our Crypto provider Zhaka.io is building a social media presence. The Zhaka Token’s price is now given in six decimals places instead of two. Zhaka users will get unique reference codes to help them generate new revenues. Upon registration, new users will receive $25 FREE and their introducers will get between 10% and 12% incentives. Zhaka.io is also introducing two NFTs to the network. A “buy back” scheme will further enable users to buy and sell NFTs to other users.

Sathia Narayan Chief operations officer JAALifestyle

JAA Lifestyle | Luxury Real Estate | April 2022

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JAA Lifestyle | Luxury Real Estate | April 2022

Small luxuries

Managing your

Under a big sky

holiday home

Different types of rentals

36 Building opportunities

A luxurious business

From the team

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JAA Lifestyle | Luxury Real Estate | April 2022

JAALifestyle | Luxury Real Estate | April 2022

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JAA Lifestyle | Luxury Real Estate | April 2022

JAALifestyle | Luxury Real Estate | April 2022

MOSTS

JAA Lifestyle | Luxury Real Estate | April 2022

MOSTS

Small luxuries

Smallluxuries

f you're convinced that less can be

of smallness is portability. The space

more and that beautiful things can

constraints inherent in any tiny home force

come in small packages, a tiny home

owners to make choices about design

may be just the thing for you.

– which in turns motivates developers

But beware — what may be a

to create often ingenious space-saving

charmingly small step across the threshold might be a surprisingly large leap for your wallet. Tiny homes are very much on trend

solutions. Oregon-based Tiny Heirloom – the company behind the TV show Tiny Luxury – has become famous for its range of

and their prices can be larger than expected

portable, customisable tiny homes boasting

— especially in the toniest neighbourhoods.

exquisite design work.

Lower Clapton in London’s East End does not quite fit that bill. Even after several years of gentrification, it has not been able

Jason Francis, one of Tiny Heirloom’s co-owners, told American Express Essentials: “Downsizing to create a more simple

to shake off its reputation as a working class

and free life is what it’s all about, but at

neighbourhood.

what point do you stop compromising your

But recently, a seven-square-metre flat with just enough space for a bed, a

life standards? “We decided to bridge the gap so

toilet and shower, a sink, a microwave and

that downsizing doesn’t have to mean

some storage went on market – and fetched

downgrading. Why couldn’t we create a way

just over €100 000.

for someone to downsize yet upgrade at the

London’s smallest microflat, located in

same time?”

a Victorian conversion, was rather brutally

Instead of the Spartan design often

described on social media as a “posh cell”.

associated with tiny homes, the company

However, there is nothing cell-like

creates exquisite homes such as one

about many of the new tiny homes that are

20-square-metre abode which bears a

coming on the market as part of the one of

"vintage glam" style.

the latest real estate fashions. Luxurious, lovingly-crafted tiny homes

The home is built around a motorised wooden platform that can serve as bed,

are increasingly offering an alternative

bench seats or table at any given time.

lifestyle choice for people who may be

It can even be turned into stairs to give

feeling priced-out of the traditional housing

access to the living area located on top of

market, or those simply seeking a less

the platform. High-end kitchen amenities

consumerist lifestyle.

like marble countertops, a deep sink, a full-

One of the prime advantages

JAA Lifestyle | Luxury Real Estate | April 2022

size fridge and oven, and even a luxurious

MOSTS

clawfoot bathtub push the price beyond

the garage door is raised. And the kitchen

€150 000.

features a farmhouse sink, gas stove and

When it comes to tiny homes many

dishwasher. Among the Escher’s furniture

of the most luxurious are based around

is a custom dining table hidden under the

a flatbed truck structure so they can be

stairs that can be extended to seat up

transported wherever the buyer requires.

to 12 adults, while Japanese-style shoji

Of course this means they often come

paper doors separate rooms. The Escher

without an associated plot.

starts at €125 900 and New Heritage says

In the US tiny homes are generally designated as being under 55 square metres – though the average-sized tiny home

everything in the home is custom-made – from cabinets to drop down desks. “Downsizing, which can seem a

measures less than half that, according to

daunting undertaking, is one of the most

a survey by home services platform Porch.

empowering things a person can do to

com. The most expensive states to buy

restructure and redesign one’s life,” says

them are in Hawaii, Montana and New

New Heritage.

Mexico. Another creator of luxury tiny

“Tiny homes are about bringing that which matters most to the forefront of our

homes is Ohio-based Modern Tiny Living,

daily living ... always accruing experience,

whose Kokosing model aims to combine

not more stuff.”

practicality, style and comfort. A 23-square-metre house with acacia

Buyers of tiny homes should be aware that they are not necessarily a great

hardwood flooring, poplar interior walls, and

investment and may not appreciate in value

white quartz countertops retails for around

in the same fashion as more conventional

€60 000.

homes – especially when they have been

Kokosing models can also be created with alternative hardwood floors and other

heavily customised. Sometimes more conventional kinds

high-end features – though customisation

of tiny homes also make a splash in the

affects the final price. Modern Tiny Living

market – such as a charming wood-panelled

calls the Kokosing "truly the most liveable

31 square metre wood cabin in West Point,

tiny home in the world".

Texas. The cabin also came with a historic

Tenessee-based New Frontier aim to

teak table from a Spanish ship. It should be

create “stunning design in a small package”

noted that the price was not for the cabin

and their 28-square-metre Escher model is

alone, but the 23 acre plot featuring lake

a good example of their approach, featuring

and hunting grounds.

a surprising two bedrooms. A cantilevered

The fact that in 2015 it sold for

master bedroom sits behind doors in the

€395 000 shows that many consumers

kitchen while a loft is located above the

increasingly seem to be buying into the idea

bathroom. The exterior combines charred

that bigger need not necessarily be better,

timber and cedar lap with a metal siding.

and are taking the small but significant step

The multi-use living area can act as a

into the world of tiny homes.

dining room or open-air sitting area when

JAA Lifestyle | Luxury Real Estate | April 2022

JAALifestyle | Luxury Real Estate | April 2022

OWN YOUR OWN

Photo courtesy of CNN.

JAA Lifestyle | Luxury Real Estate | April 2022

OWN YOUR OWN

A luxurious business

JAA Lifestyle | Luxury Real Estate | April 2022

OWN YOUR OWN

f you’re indulging in a bit of blue-sky

ambition, a budding hotelier needs pockets

thinking while lounging next to the

deeper than the Mariana Trench to even get

pool, you probably won’t be the

on the first rung of the ladder topped off

first person ever to ruminate that

by the Hiltons, the Marriots and, yes, the

buying a hotel would be the perfect

Trumps.

way to combine business and pleasure. There is, after all, a glamour

The development costs of the world’s grandest luxury hotels are measured in

attached to the names of great

billions rather than millions – though you

hotels that makes the trade

can end up with plenty of bang for one’s

more than just a dollars-

buck.

and-cents enterprise. The reality, of

Think of the world’s only seven star hotel, the Burj Al Arab in Dubai. From the moment you arrive at Dubai

course,

International Airport a white Rolls

is generally

Royce is standing by to whisk you the

considerably

short distance to the man-made island

grittier than

the hotel itself stands on – unless you

the dream.

choose helicopter transfer.

Besides

As you approach the 212m facade,

moxy

famously styled in the shape of a billowing

and

sail from an Arabian dhow – your own butler awaits. The butler will escort you through an interior liberally decorated with real gold leaf and embroidered silk wallpaper to a room, which even if it is the cheapest in the house, is nevertheless a duplex suite with views of the Arabian Gulf. As we’re assuming that you’re the

JAA Lifestyle | Luxury Real Estate | April 2022

OWN YOUR OWN

owner there’s a fair chance you’ll plump instead for one of the royal suites. These feature a living room to one side and a dining room and library to the other. They are connected by a staircase, or if that’s just too much effort, a private lift.

Remember, however, that you may well still be paying back the loans on the €1.3 billion it cost to build the Burj Al Arab in the first place. Yet some of the more modern hotels being built make even that look like a

The bedroom has revolving beds

bargain — Singapore’s iconic Marina Bay

surrounded by mirrors that spin at the push

Sands, for example, cost an estimated €5

of the button and the ceiling is – naturally –

billion.

gold-plated. If you’re the indecisive type allow

With 57 stories and a curious “three legged stool” silhouette, the towers of

some time before going to bed to choose

Marina Bay support the world’s largest

from the 17 types of pillow on offer.

infinity pool and a cantilevered viewing

And that’s before you get to try

platform. The lobby houses a shopaholic's

out the amenities, including the Talise

paradise as well as numerous dining

Spa — where you can book the “Romantic

options, including several restaurants by

Moonlight Swim” — a private swimming

celebrity chefs.

pool for two strewn with rose petals, while

Should one be tempted to build one’s

champagne and strawberries are served

own Burj Al Arab or Marina Sands, it helps

poolside.

to have a contacts book full of the names

The hotel’s nine restaurants include the famous Al Mahara or “Oyster Shell”. Al Mahara is accessed through a golden

of bankers, investment house managers and hedge fund owners to spread the cost. Some hoteliers prefer to go it alone,

arch and is surrounded by a gigantic blue

however. One such example was that of

aquarium filled with exotic fish.

Donald Trump himself, who, according to a

As the owner, you’ll naturally be entitled to all of this on the house – which means you can tell yourself you’re saving €17 000 per night.

JAA Lifestyle | Luxury Real Estate | April 2022

report in Forbes, bought two of the hotels in his portfolio with his own money. Trump’s finances are famously opaque and his hotel empire is widely considered to

OWN YOUR OWN

Photo courtesy of Marina Bay Sands. be heavily mortgaged, but Forbes recently

And while the margins are generally

did some number crunching on the Trump

somewhat lower, they are still substantial

International Hotel in Washington, DC, and

enough to have turned the business into

the Trump National Doral in Miami – and

a €15.7 billion market in the US alone by

claimed that both were losing money.

2019 – one that was expected to continue

“It’s impossible to be certain without seeing the official numbers, but it sure

While chains are increasingly trying to

seems likely that the president has actually

get a piece of the boutique hotel action, it is

been losing money on the D.C. hotel since

a world which also suits a different type of

the start, despite all of the high-priced

entrepreneur — one looking for more than

political events,” said the magazine.

cash returns.

The Trump Organization did not respond to the claims. If the costs of setting up large five

For many years American billionaire and co-owner of Aston Villa Football Club Wes Edens had been a frequent visitor to

star hotels can prove indigestible even for

Jackson Hole, Wyoming, and was thinking

the likes of Trump, it is unsurprising that

of buying a holiday home in the ski resort.

entrepreneurs are turning to boutique

But he told Worth: “I didn’t want to

hotels as a way of getting into the business

be the guy who bought an expensive house

with a smaller footprint.

that was just used a couple of weeks a year

The idea is that character-rich, quirky properties with strong local connections

growing at 2.7%, according to IBISWorld.

— that just seems like a bad idea. “My thought was it’d be great to

can make up with charm what they lack in

develop with some friends a boutique hotel

the standardisation and economies of scale

that would serve both as a home when I’m

of the corporate chains.

out there as well as a wonderful place for

JAA Lifestyle | Luxury Real Estate | April 2022

OWN YOUR OWN

friends, family and others to enjoy.” With several other investors Eden

out dilapidated "homes with potential" in spectacular locations in places such

created Caldera House, an uber-luxury

as Barcelona, San Francisco, Beijing and

eight-room hotel and private ski club.

Istanbul, before giving them the high-grade

The hotel has four four-bedroom suites and four two-bedroom suites, two restaurants, a spa with a cedar sauna, a

restoration treatment and turning them into upmarket Airbnb lets. What persuaded him to take a leap

fitness studio and a heated outdoor infinity

into the hotel business was when he found

plunge pool.

two run-down old riads – traditional urban

It featured on the 2019 series finale

homes built around a decorated courtyard

of Keeping Up With The Kardashians as the

– and saw their potential. More importantly,

family decamped there for holidays.

still was the fact that additional rooms

Given that the creation of boutique hotels is so closely linked to the charm of an

could be added. “I bought two beautiful old homes

individual property, an opportune purchase

deep in the heart of the old city, the medina

can provide the stimulus to create a new

of Marrakech, that were in a terrible state

operation.

when I found them,” he said.

Jonathan Kos-Read, an American who

“This was during Covid when the

over the last 25 years has made a name

bottom dropped out of the market — so

for himself as China’s leading foreign actor,

I got them for a third of what they would

recently opened two luxury boutique B’n’Bs

have been selling for pre-Covid. In fact, they

in Marrakech: Riad Persephone and Riad

would have already been cheap at the price

Roxanne.

because they were so run down.”

Kos-Read had spent 10 years hunting

JAA Lifestyle | Luxury Real Estate | April 2022

Since then Kos-Read has been

OWN YOUR OWN

scouting the city for locally-made decorations to accessorise the rooms in traditional Moroccan style. “I love beautiful things and I love beautiful homes and I love making the area around me beautiful and when it’s not it hurts my soul,” he added. Kos-Read advises anyone designing a boutique hotel to take a hard look at their own sense of interior design. If they have any doubts about their capabilities they

weather, we have a schedule to adhere to

should consider outsourcing this aspect of

but it varies from year to year," Icehotel

the project to a professional.

representative Beatrice Karlsson said.

“How do you know if you have taste?

The hotel has also given guests the

The way you know that is if people come to

chance to co-design a suite – and stay there

your place and say ‘what a great house’. If it

as often as they want before it melts – at a

seems like people don’t mean it you should

cost of more than €220 000.

think twice.” He also advises potential boutique

Once the suite has flown away to the river, clients are given a bottle containing

hoteliers to go with their gut and make

some of the meltwater, as well as design

sure that they love the property they are

blueprints for the design and photographs

considering purchasing.

of the suite.

“If you love it, other people will

Or, if that is not exotic enough for

probably love it too because human

you, how about the Manta Resort, Pemba

beings are not all that unique. And if the

Island, Zanzibar, Tanzania?

investment goes sour, as they sometimes

As well as more conventional rooms,

do, at least you will be left with something

the resort boasts a single underwater room

you love,” he adds.

where guests can sleep as reef fish swim

Of course a hotelier need not necessarily be limited by the idea of bricks and mortar. Since 1989 the Icehotel at

past the surrounding glass. Spotlights under the windows can be turned on to help attract fish and octopuses at night.

Jukkasjaervi, a small Arctic town in Sweden,

To conclude, as George Bernard Shaw

has been built from scratch as construction

once said: “The great advantage of a hotel is

crews sculpt 65 hotel rooms, a lobby and

that it is a refuge from home life.”

reception area, a main hall and an ice bar

Ice hotels, underwater rooms, ski

out of 5 000 tonnes of ice from the River

lodges or Moroccan riads might not quite

Torne.

represent home away from home. But

Opening every winter, the structure

"We're completely dependent on the

perhaps they give us something even more

lasts only a few months before it melts

precious – the chance to feel like we’re on

away with the spring thaw.

holiday when we’re doing business.

JAA Lifestyle | Luxury Real Estate | April 2022

JAALifestyle | Luxury Real Estate | April 2022

OWNER’S MANUAL

MANAGING YOUR HOLIDAY HOME

JAA Lifestyle | Luxury Real Estate | April 2022

OWNER’S MANUAL

f you have a penchant for the finer

lower maintenance your property is, the less

things in life and have invested in

upkeep it requires when you are away for

a second (or third) home in your

months at a time.

country of residence or overseas,

Prior to purchase, research the

it’s important to ensure that your luxury

developers who built the holiday home,

property is fully maintained and managed in

or talk to neighbours and see if any other

your absence.

properties constructed by the company

There are several keys to consider when purchasing a holiday home, especially

have incurred any major issues. Also consider the outdoor space. If a

if it is located hours away. Some properties

large garden comes with your luxury villa,

can be demanding on their owners and

you will have to contemplate the costs of

require plenty of upkeep, while others can

contracting a gardener to mow the lawn

remain untouched for months without any

and tend to flower beds every month. If the

issues at all.

external area is smaller, you may prefer to

If you’re interested in learning more about the best practices for managing your

lay gravel, paving stones or decking to keep maintenance low.

holiday home, we have some tips and tricks that will benefit you below.

Choose wisely

Consider letting your property If you don’t plan to visit your property often and see your holiday home more as

Most people will tell you that it’s advisable

an investment for the future or as a legacy

to seek out a contemporary property for

for your offspring, consider renting it out

obvious reasons, as older homes can come

for several months at a time, or in the short

with myriad problems. However, if you do

term during peak seasons.

prefer to add a characterful period property

It’s a known fact that when homes are

with wooden beams or inglenook fireplaces

left empty for longer time periods, issues

to your portfolio, it’s always wise to ensure

begin to arise. Perhaps your appliances

that you have a thorough survey conducted

aren’t working correctly, or there has been

prior to purchase to uncover any damp,

inclement weather in the area that caused a

mould or cracks.

tile to be dislodged from the roof.

Taking these steps early in the process

The best way to avoid this is to rent

can give you peace of mind and save you

the property out. This won’t just bring in a

a lot of financial headaches in the future,

second income, it also means that reputable

especially if the property is not your main

tenants or a management company can

place of residence.

keep on top of maintenance in the house for you.

Go low maintenance Choosing a modern, newly-constructed

Invest in property management

holiday home – or one that is only a few

A locally-based property management

years old – can be extremely beneficial. The

company specialising in luxury homes can

JAA Lifestyle | Luxury Real Estate | April 2022

OWNER’S MANUAL

also help to assist with any holiday home problems in your absence. Whether you wish to instruct them to simply look in and check security once a week or month, or want them to organise cleaning, welcome packs, and check-in and check-outs for rental clientele, they can attend to your every need. These companies are likely to charge between 10% and 20% of your total rental income or a fixed monthly euro fee depending on the services you require. It's important that you research reputable companies before instructing them to work on your behalf. Don’t look for a property management agency who just

a good clean prior to your arrival. Referrals

does the bare minimum, is new to the area

are usually reliable, beneficial and can

or doesn’t have any accreditations; seek out

work out well over long periods of time –

one that is established, puts some effort

especially if you know the person making

into their services and aims to impress.

the recommendation well.

Also, if your holiday home is in another country, find one that employs staff that speak your primary language to avoid any misunderstandings. Good property management agencies use professional tradespeople if a problem arises, and they will always contact you with a quote prior to authorising any work to be undertaken on your behalf. You will also have a 24/7 single point of contact, so you always know who to contact in case of a situation arising.

Get a friend to help out

Additional security measures You may decide to take care of security measures yourself and monitor your holiday home status from afar. With the advent of technology and the Internet of Things, it’s becoming easier for landlords and property owners do just that. Modern surveillance technology such as video doorbells, CCTV cameras and internal monitoring systems can all be installed by a good technician with the correct know-how. You can stream most of the footage

If you know someone locally, a friend or

from your property in real-time via an

colleague, they make be able to look into

app directly to your smartphone or tablet,

your property on a regular basis and report

meaning you will always know what is going

back to you directly.

on in your property, even if you’re hundreds

They may even be able to recommend

of miles away.

a housekeeper to pop in and give the place

JAA Lifestyle | Luxury Real Estate | April 2022

JAALifestyle | Luxury Real Estate | April 2022

TOP SPOT

Under a big sky 30

JAA Lifestyle | Luxury Real Estate | April 2022

TOP SPOT

JAA Lifestyle | Luxury Real Estate | April 2022

TOP SPOT

Photos courtesy of Visit Big Sky.

he name alone conjures visions

store until 2014. But while this was a state

of wide-open spaces and

of affairs which lasted for several decades

limitless outdoors. In this sense,

and many locals were happy to leave it that

as in many others, Big Sky,

way – enjoying Big Sky’s low-key charm –

Montana, doesn’t disappoint. For a long time this town, around an

hour’s drive Yellowstone National Park, was

cases overtaking its rivals. Moves to catapult Big Sky into the

something of an unpolished gem when it

big leagues started with the creation of a

came to American ski resorts.

tram line which accesses some of the most

Founded by newscaster Chet Huntley

extreme slopes in the US, and the creation

in the 1970s, Big Sky was known as a

of the most modern, sophisticated network

bare-bones, hard-to-reach ski station. Even

of ski lifts in the country.

in the 1990s there was no town centre

In 2016 Boyne Resorts, which now

and the town boasted barely more than

owns the resort, launched plans to turn it

500 residents. Visitors had to catch creaky

into a state-of-the-art destination; the town

old lifts crawling up the mountainside

is currently anticipating around €900 million

which frequently broke down and faced

in investment over the next decade.

an après ski offering that was not so much unsophisticated as non-existent. The resort didn’t even gain a grocery

the resort is catching up with and in many

In 2018 Big Sky became an inaugural participant in the Ikon ski pass scheme and skier numbers started to soar — rising 46%

JAA Lifestyle | Luxury Real Estate | April 2022

TOP SPOT

between 2015 and 2021. These days Big Sky markets itself

the variety of food available at the resort, and Westward Social at base of the slopes

as America’s largest ski resort – whisking

offers craft cocktails and comfort food with

customers across 5 800 skiable acres on

a local twist.

39 different ski lift routes – some of which offer heated chairs and windproof bubbles. Perhaps even more importantly

Big Sky has benefited from the proximity of the nearby uber-elite Yellowstone Club, reputed to be one of Bill

the town is finally starting to make some

Gates’ favourite places to kick back and

headlines for its luxury après ski offerings.

relax.

In 2021 the resort opened Montage

Covid-19 has also played a part in

Big Sky lodge built out of regional wood

the sudden popularity of this upmarket ski

and stone within the resort’s Spanish Peaks

resort among the wealthy American buyers.

enclave – and in doing so began to attract the attention of big-spending visitors. The lodge features a spa with 12 treatment rooms, including two couples’ treatment rooms an indoor lap pool, his-

From the perspective of someone sitting in a cramped apartment in a crowded urban centre during a lockdown, Big Sky must have sounded like paradise on Earth. No wonder, perhaps, that realtors

and-hers relaxation areas, heated plunge

like Philip White, CEO of Sotheby’s

pools and steam rooms.

International Realty, reported to Forbes that

Six dining venues have revolutionised

JAA Lifestyle | Luxury Real Estate | April 2022

the resort was one of five mountain towns

TOP SPOT

that were seeing booming demand in the wake of the pandemic. “Homes in the mountains serve as sanctuaries of privacy and security for newcomers and second homeowners,” said White. “The clean air and space are also a big draw.” Small surprise either that realtors like Brenna Kelleher, an agent with PureWest Real Estate – Big Sky, have reported people even bought in the resort without visiting the homes. And, with The New York Times reporting that the number of people moving out of the city between March and August of 2021 was up 50% on the previous year, it is unsurprising that Big Sky has been one of the big winners. However, one of the biggest problems

Company for €21 million. Outside the skiing season Big Sky

associated with Big Sky real estate is the lack of supply compared to demand. Montage Big Sky has partially helped

offers access to three world-class Blue Ribbon fly-fishing rivers; a private 18-hole

to relieve the pressure. It offers 39 private

golf course designed by Tom Weiskopf; and

residences with flexible layouts and sizes.

a seemingly endless number of hiking trails. And all of these changes have helped

The residences feature decor crafted in hand-stacked stone, Western-inspired

put Big Sky on the radar of airlines across

lighting, and custom cabinetry, as well

the US – making it considerably easier

as state-of-the art kitchens and grand

to get to the nearest airport, Bozeman

fireplaces.

Yellowstone International. Over the last year Bozeman has seen

Another alternative for high-end buyers is 7000 Beaver Creek Road – a 10

the start of direct flights from 29 major

bedroom imposing mansion built out of

hubs.

timber and stone with views over Spanish Peaks into Yellowstone National Park. The compound includes a guest house

To top it off, last year Big Sky was named one of the world’s greatest places in Time magazine, which noted: “Big Sky is

with three bedrooms and a spa building

revelling in its cool-kid status, thanks in part

with outdoor hot tub, outdoor fire pit and

to a pandemic-related boom (and hit TV

large patio. It includes a fully equipped gym,

shows Yellowstone and Big Sky).”

massage room and two trout ponds. The 850-square-metre property is on

The sky, it appears, really is the limit for this Montana resort.

the market with The Big Sky Real Estate

JAA Lifestyle | Luxury Real Estate | April 2022

JAALifestyle | Luxury Real Estate | April 2022

BUYING FOR BUSINESS

DIFFERENT TYPES OF RENTALS

f you’re thinking of making a property investment in order to rent it out,

small, one-bedroom apartments. The benefit of purchasing this kind of

there are a wide variety of options

property is that there are normally plenty

available, from small apartments

of options, which often makes finding the

to sprawling multi-unit properties, and

right one easier than some others on our

everything in between.

list. Single-family homes are usually rented

Here are five different rental options

by long-term tenants who stay for multiple

for those looking to make property

years, which can make life significantly

investments and the benefits and

easier for the owner.

drawbacks that come with them:

Whether you choose to take a hands-on approach or work with an estate

Single-family homes Single-family homes are likely to be the most common around and can vary greatly in size. While we use the term "singlefamily" this essentially covers any property that could house a family but also covers

agent to take care of logistics, purchasing and then renting a single-family home is often the first step on the ladder for new investors. One of the few downsides here is that the cost per unit is probably going to be higher than with larger properties that include multiple units.

JAA Lifestyle | Luxury Real Estate | April 2022

BUYING FOR BUSINESS

Multi-family properties The name might be a little confusing, but a multi-family property is simply a property that can house numerous families — typically between two and four — such as an apartment block or converted townhouse. A purchase of this size is likely to cost much more than a single-family property, but typically you will find that multi-family properties work out cheaper per unit than smaller properties. Purchasing a larger building comes with its own difficulties and it can be more difficult to secure financing, so you’ll need to make a large downpayment towards it. Yet once the sale has been made and you have tenants in some or all of your

homes or suitable options for the elderly. Typically on the small side, condos can be a reasonable investment for even firsttime buyers and, because they are usually run by a Housing Association to which you must pay a monthly or annual fee, they often come with little to no oversight needed. The downside here is that Housing Association fees can be steep, especially within desired areas. When you think that a monthly fee will essentially be coming out of your rental profit, it does give you some food for thought. Another issue is that Housing Associations can be notoriously fickle and it’s not unheard of for rules to be changed that prohibit the renting of condos.

properties, a multi-family option can be

Student accommodation

hugely profitable. It’s much easier to scale

Perhaps a slight wild card here, but with

your profits and small increases in rent per

numbers of university students climbing

unit can really add up. Generally speaking,

steadily around the world, purchasing a

people living in multi-family properties tend

property then renting it out to students can

to move more often than those in single

pay handsomely — but of course, there are

properties, which means you may need to

some downsides.

be flipping units constantly. You’ll likely use a property

The major benefit of this type of housing is that you tend to be able to put

management company to take care of the

more people in the property than with other

day-to-day needs of the property and,

options. Student houses have sometimes

if there is a regular turn-over of tenants,

had their living rooms converted into

you’re going to be glad that you have them.

bedrooms, while every inch of space is maximised, which can lead to higher rents

Condos Condos are sometimes seen as a great option for first-time investors, but they can also come with rules that can make renting tricky. A condo is usually a single property that comes with shared amenities, such as swimming pools and tennis courts, and is often considered either good for holiday

JAA Lifestyle | Luxury Real Estate | April 2022

overall than you would get if a family was living in the same property. But that fact brings us nicely to the negatives. Student properties tend to receive more damage and require more maintenance and upkeep than other housing, while it’s not uncommon for plenty of changes to occur, which may mean some

BUYING FOR BUSINESS

of the rooms remain vacant for periods

appears, but whether you can soak up

while you search for tenants.

losses like that is quite another matter.

This isn’t so much of an issue when

Renting commercial space is an

the cost of the house is divided between

excellent option when it all goes well, but

the tenants, but when individual rooms are

can bleed you dry when it doesn’t.

rented out, you tread the line of making a

Whether you’re looking to make your

decent amount of profit when things are

first foray into investing in property to rent,

going well, and numerous empty rooms and

or you’re a seasoned pro, there are always

high upkeep costs when things are not.

plenty of variables at play — and there isn’t one distinct “best choice”.

Commercial Purchasing real estate to rent it out as commercial space can prove to be extremely lucrative. A lot depends on where the property is, its size, and also what other commercial interests are in the area, but if you get this one right, it can be well worth the investment. Commercial leases are usually fairly long, sometimes as much as 10 years, which certainly takes the pressure off having to constantly find tenants. However, attracting somebody willing to sign a long lease can sometimes be difficult, especially if their area isn’t great. You may need to wait six months or more before an interested renter

First-timers will probably go for the single-family property or the condo for the simple reason that there are more of them and so it makes the whole process that much easier. Purchasing a multifamily property is a serious and sizeable investment and one which we probably wouldn’t suggest starting with if you’re new to real estate. Each of these types of rentals come with their positives and negatives, but as is often the case with real estate, it usually comes down to the location and who’s renting the property. A successful investment is based on sound planning, careful consideration of the area — and also a slice of luck.

JAA Lifestyle | Luxury Real Estate | April 2022

JAALifestyle | Luxury Real Estate | April 2022

PROPERTY BARONS

BUILDING OPPORTUNITIES

nternational readers may not have

be worth €80 million, has often defended

heard of German real estate tycoon

his wealth and spoken against higher

Christoph Gröner – but a wise man

taxes – saying that he doesn’t believe

would not bet against the developer’s

governments have the expertise to spend

reputation spreading beyond his native

taxpayers’ money wisely. But there the

country.

similarities with Trump end.

Like a certain real estate developer from the US who reached the Oval Office,

associated with glitzy, ultra-high-end

Gröner is considering entering politics.

projects, Gröner has often spoken out

An interest in the political stage isn’t

on behalf of an entirely different cause –

the only thing Gröner — who bears an

sustainable development and the cause of

uncanny resemblance to former German

poorer tenants in rented accommodation.

chancellor Gerhard Schroder – has in common with Trump. This Karlsruhe native is estimated to

Whereas Trump has always been

In 2019 Gröner introduced himself to reporters at a press conference to open one of the buildings he had developed by

JAA Lifestyle | Luxury Real Estate | April 2022

PROPERTY BARONS

saying: "I'm 50 years old, married and have four children. I like hiking and cycling, and I

on. In 1989 he began studying mechanical

like cars. Everything else you've heard about

engineering at the Technical University of

me is untrue.”

Karlsruhe and the early days of CG Gruppe

But soon he was proving the opposite

initially focused on restoring old buildings.

by talking of the causes closest to his heart.

When he saw the real estate market

“I stand for redistribution. I stand

was stagnant, he seized an opportunity to

for equal opportunities,” he said. They are

invest and, once the market rebounded,

unusual words for an entrepreneur who has

profited handsomely and became one of the

spearheaded construction projects worth

leading developers in the country.

billions. The vehicle that has brought Gröner his wealth has largely been the construction company that bears his initials — CG

Gröner left the board of CG Gruppe in March 2020, reputedly following a dispute over its direction with other shareholders. In April 2020, he announced that

Gruppe AG, which he set up in 1995 and

he had launched a new project developer

which has grown into one of the largest real

called CG Elementum — and then acquired

estate companies in the country.

several projects from his previous business

CG Gruppe has built entire districts in Frankfurt as well as several thousand rental

partner, Consus Real Estate AG. He pledged to keep the same focus

apartments in some other cities. At one

in his new venture to the one which had

point an auditor estimated the company's

served him well beforehand.

value at €1 billion. Many of his developments have hit

Gröner is a health fanatic who runs up the floors of high-rise developments to stay

the headlines because of an emphasis on

fit and snacks on fruit and trail mix during

sustainability.

interviews.

The SLT 107 Schwabenlandtower

He recently allowed himself to be

in Fellbach, for example, was rebuilt to

shadowed for several months by a TV crew

make "important contribution to climate

for a documentary about wealth, Inequality:

protection" when the CG Gruppe converted

How Wealth Becomes Power, which examines

its existing luxury apartments into rental

the possible explanations for the widening

apartments.

gap between rich and poor.

Wind turbines on the roof to

In the documentary he displays a

ensure that electricity is constantly being

self-awareness and a reflective nature when

generated and new construction methods

it comes to the disparities in wealth and

helped make the building more energy-

influence that one would not necessarily

efficient than many of Germany’s high rises.

expect from someone in his position.

Gröner hailed from a relatively modest

While his apartments and other

background in Karlsruhe where as a young

residential buildings are overwhelmingly

man he worked on construction sites, in

occupied by the wealthy, he has been a

warehouses and even by collecting bicycles

fierce advocate of ensuring developments

from waste, repairing them and selling them

contain a mix of affordable housing for

JAA Lifestyle | Luxury Real Estate | April 2022

PROPERTY BARONS

Photos courtesy of Gröner Gruppe. poorer tenants, in addition to glitzier apartments. "With my company, I stand for making

minded and out of date, he believes. However, he also believes that unless politicians allow development to take place

it possible to create affordable housing for

there will be a squeeze on land which will

everyone,” he said.

force up prices and eventually take the

“But without the municipalities also providing us with the cheap building land, we can't do anything." Gröner’s philosophy is that in a changing city such as Berlin it is impossible to completely prevent gentrification.

matter out of developer’s hands. At the same time Gröner believes it is vital that construction becomes more sustainable and uses increasing amounts of recycled concrete, for example. “When we build today, we know that

However, the effects of it can be

more waste is generated in Germany from

mitigated by politicians and developers

construction than from general household

working together and by passing policies

waste. This is unimaginable,” he said.

which ensure that developers set aside, say, 30% of any project for affordable housing. The idea that high-end housing and more affordable versions should not co-

It remains to be seen whether Gröner is satisfied with running his new business or whether his ideas will eventually make it onto an even larger stage.

exist within the same development is small-

JAA Lifestyle | Luxury Real Estate | April 2022

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JAA Lifestyle | Luxury Real Estate | April 2022

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