Year in Review (2008) - Marquette Turner Luxury Homes

2008: Year in Review Showcasing Luxury Homes To The World

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T 1300 737 778 | F 1300 767 926 W marquetteturner.com Head Office Level 39, 2 Park Street, Sydney NSW 2000

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THE YEAR IN REVIEW We have compiled our “Year in Review” from the Marquette Turner news articles. As well as giving you great content, it also means all the useful internet links are available for your convenience.

We started the MTLH blog in January 2008 and it was ranked approximately 18,000,000 in the world.

In December 2008, it is ranked 2,800 in Australia – making it the most viewed real estate agent blog in the country. Furthermore it has reached 180,000 in America, and 200,000 in the world.

A mind-blowing achievement indeed, one that we believe has been achieved because, in many cases, we are willing to make very political comments and stand by them.

This obviously does not appeal to everyone, but we are not milky-white and bland, and will use our voice to be heard in the loudest way possible. We try to champion human rights and look after those whom are less fortunate in any way that we can.

One of the hard things in compiling our Year in Review is that we have had to omit many of our most powerful comments, in plenty of cases because they are no longer current, and circumstances have surpassed them. For good, in most cases, we’re glad to report.

Nonetheless, we will continue to champion the causes that we believe in – not for the sake of gaining popularity, notoriety or business, but because in our opinion it feels right.

Furthermore, having been invited to become a member of the prestigious Who’s Who in Luxury Real Estate in May 2008, in October Marquette Turner Luxury Homes was named the World’s Most Outstanding Luxury Agency Under Two Years Old at a glittering ceremony in Philadelphia, USA. This made us the first Australian agency not only to be nominated for an award but also to receive the prize. In November we were invited onto the Board of Regents, the controlling body of the Who’s Who in Luxury Real Estate.

It’s been a tough year for many, and one where the real estate industry really had to accept and appreciate the monumental shifting of what had previously been accepted as the way of doing things. Marquette Turner Luxury Homes, we believe, has adapted with the best of them. As a youthful, perceptive company, perhaps this has been easier than for others. It is, however, a time not for gloating but a time for knuckling down, working together, and building on achievements to date.

Marquette Turner Luxury Homes, together with our multi-faceted, diverse, fun and informative blog, MTLH, are not resting on any laurels. Together with your feedback and involvement, we will move forwards together to the benefit of us all. Thank you.

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Michael Marquette & Simon Turner

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The W New York Downtown: Fuel To The Big Apple’s Fire The US Dollar is gaining strength, however, international real estate buyers are still important, even though their purchasing activity has decreased by 30-50 per cent since June 2008.

So where does the strength still reside? New developments. The W New York is a great example.

The W NY Downtown Hotel & Residence, the has seen 74 percent of buyers, thus far, come from overseas, 41% coming from Korea, 10% from the United Arab Emirates, and eight percent from Italy. This may come as a surprise if you’ve formed the opinion that the market is dominated by British and Russian buyers.

5 The 56-story building has 223 residential condominium residences, with prices ranging from $1.2 and $2.4 million. It’s hip, it’s dark, it’s cool, and there’s only a few remaining.

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More Than a Façade: Behind The Surface of The Lancasters, Hyde Park It’s big it’s hard…and this is serious work! “The Lancaster”, a luxury residential project besides Hyde Park in London is being gutted by the developer – all of the interior of a 125-meter long Grade II listed building – whilst seeking to preserve the building’s ornate façade.

Dating back to the mid-19th Century, the façade is now propped up by 500 tons of steel, hiding the masses of rubble now left behind.

Façade retention is unsurprisingly a somewhat delicate engineering operation. The external walls needed to be carefully secured prior to the interior demolition and sensors are continually monitoring the structures stability.

It’s the sheer scale of the project that makes this so daunting. Indeed, to allow for underground parking, crews dug beneath the existing structure to excavate 700 pillars to support a new concrete floor.

The Lancasters, scheduled for completion in 2010, will include 77 apartments, all of which will also offer views of Hyde Park, thanks to the 315 windows preserved from the original building.

In addition to the apartments, there will also be two 10,000-square foot homes with private pools and wine cellars.

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WISE GUY: Why Does the Australian Dollar Suddenly Have So Few Friends?

It was almost like you went to put the kettle on during the ad break and everything changed with the Australian Dollar: one minute we’re pushing (almost) the 1 AUD for 1 USD and within a few months the AUD is struggling to buy 60 cents US. Not being an economist, and learning on the run as no doubt many of us are in these historical economic times, I put this question to a friend of mine that I’ve grown up with that now works in the City of London. He’s a bit of a whizz and obviously a busy man, so I really appreciated his answers in layman’s terms, and am glad he’s allowed me to share them with you. Here’s his explanation:

The USD is benefiting from several themes, I will list them: 1) There is a perception that the US is further down the road in this crisis (ie. real estate markets have fallen more dramatically) and they have unveiled a more comprehensive suite of policy measures to deal with their problems than other countries have thus far needed to, Australia included. This has enhanced the USD status as a “safe haven” currency. There is the perception that the rest of the world is now slowing down faster than the US, and so this is encouraging US investors to repatriate foreign investments into USD. 2) Central banks around the world are cutting rates aggressively, and so the interest rate differential between other currencies and USD is narrowing, this increases the relative attractiveness of the USD. 3) The unwinding of “carry” trades (this is where credit is borrowed from central banks with low interest rates and invested in other economies that are higher). Over the past year/18months some investors have borrowed in USD at low interest rates, to invest in AUD at higher rates, and so earning the 4% or 5% interest differential between the two currencies. This money flow was one of the reasons behind a 30% increase in the AUD vs the USD over this period. As volatility in financial markets increased, these investors have unwound these trades and subsequently sold AUD to buy USD. 4) The linkage of the AUD to commodities has not helped it in recent weeks, as all commodities have sold off on expectation of a rapidly slowing economy.

So there you go. Economies are ultimately a huge web of tangled and complicated interests, involve complex strategies and vary in their proclivity to risk. We clearly can’t be expected to

8 understand every single facet with great understanding, particularly when many of the best brains in the world couldn’t.

I do hope, however, we’ve given you a few little tips that mean your “flapping in the wind” a little less. And of course, there’s certainly a need in the world for Wise Guys!

Recyclable Homes: The Loofah Project One of the Laureates of the 2008 Rolex Awards, which rewards pioneering and enterprising individuals, is Elsa Zaldivar from Paraguay, a poor, landlocked country in the heart of South America, who has found a new use for an old vegetable.

Elsa has been a long-time advocate and helper to the poor whilst being environmentally conscious. She has uncovered a method to mix loofah – a cucumber-like vegetable that is dried to yield a scratchy sponge frequently used as an abrasive skin scrubber – with other vegetable matter such as husks from corn and Caranday palm trees. Mixing them with recycled plastic, strong, lightweight panels can be created. These panels can then be used to create furniture and construct houses, insulating them from temperature and noise.

As the design of the panels has been refined, improvements have meant lowering costs. The panels initially cost about US$6 per square metre to produce, however, the cost has already dropped to less than half that figure, making it competitive with existing construction materials, such as wood. About 300,000 Paraguayan families do not have adequate housing.

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The Homes of Elizabeth Taylor The English born star, winner of two Academy awards and known for her style, extravagance and husbands, is the owner and resident of these stunning American mansions: Los Angeles, CALIFORNIA The 7,172 sq ft home has six bedrooms and bathrooms, multi-car garaging, stunning gardens and swimming pool.

10 Miami Beach, FLORIDA Situated right on the waterfront on the suitably named Star Island Drive, the residence, complete with lush gardens, tennis court, pool and private jetty, is 9,364 sq ft and has seven bedrooms and 10 bathrooms. Fit for a Queen of the Silver Screen.

(images courtesy of Microsoft Earth)

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Help Your Luxury Agent Help You Once you list your home for sale you may find it difficult to step aside and let your agent take over. You may be wrestling with the temptation to linger around while prospective buyers view your home, hoping to get the chance to point out all of the “bells and whistles” you know make your house more “sellable”.

If you really want to help, however, you will leave the house whenever it is being shown.

We have found that the sales process does not really begin until buyers have begun to voice their personal objections about a property, which makes their motives, plans and position much clearer to the agent.

Unsurprisingly, most buyers are unlikely to feel comfortable voicing their opinions in front of the home owner. Many buyers are walking through with family members or friends and want to be able to openly discuss the pros and cons of the home. Sometimes their objections are serious enough to remove your house from consideration. This may not be the case though, as oftentimes homebuyers have specific criteria they are “judging” the home on and just want to make sure it measures up the their wants and needs. If they really like the house they are going to want to talk freely and openly about the pros and cons of the home.

It is often difficult for the home owner to listen to buyer objections without taking them personally, and this is often the case sometimes even when the agent is conveying these objections to the owner. Regardless, it is important to remember that these objections often do not reflect actual criticism of your property, simply the “inner monologue” of a buyers thought and later negotiating process.

If a seller is standing at the agent’s elbow, the buyer won’t be comfortable enough to allow the process of raising objections take place. If the buyer feels intimidated or suppressed, the sale could be lost.

Also, if the home owner is pestering the buyer about how great their home is then they might feel like there is something that they are trying to cover up. The best way to help is to give your real estate agent room to make the sale. They will be viewed as far more impartial and this is ultimately what you have engaged their services for.

A quality agent, will have excellent credentials and come highly recommended. Ask them prior what training they have had, if they are trained in negotiation, and what associations/awards they have to their name More information: Marquette Turner Luxury Homes, 2008’s Winner of the World’s Most Outstanding Luxury Agency Under 2 Years Old, are tertiary trained in negotiation and are one of Australia’s just two Board of Regents for the prestigious Who’s Who in Luxury Real Estate.

Contact us to find out how we can represent you on +61 433 170 170 or email michael@marquetteturner.com.au

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The Blind Leading The Blind: QLD Follows NSW’s Tax Hikes Further to our recent report of the NSW tax hikes to hit the property industry, now it’s been revealed that Queensland Premier Anna Bligh plans to impose a special tax on landholdings worth more than $5 million.

Under the property tax surcharge, part of a series of measures introduced as the QLD Government attempts to plug a $4.3 billon hole in the state’s budget over the next four years, landholders who own parcels of land will pay a 0.5% surcharge from 2009-10.

Sure to hit property developers hard at a time when the industry can least afford it, the decision will also likely cost 3500 jobs. It is important to recognize that the property sector employs one in seven workers in Queensland.

On top of the property tax surcharge, the Bligh Government has also raised vehicle registration costs by an average of 6.5% and delayed the abolition of transfer duty on core business assets by 18 months.

Whilst we are in no way suggesting that the Queensland Government shares similar brain cell(s) or genes than the hapless NSW government, what is concerning is the tendency of Australia’s fiscal “experts”, it would appear, to resort to anything but measures that stimulate and encourage innovation businesses and in turn the economy. Surely reducing land tax – a policy long championed by Australia’s real estate industry – would be a better option to stimulate the sector and economy.

Michael Marquette, Co-President of Marquette Turner Luxury Homes, states “Are the states tightening their belts, penalizing businesses and therefore consumers with the hope that the Federal Government will deal with the aftermath? Whatever it is, the economic credentials of those that run our States and Territories should be seriously scrutinized.”

Isn’t the relative basket case that is NSW - Australia’s most populous State – a good enough example of what not to do?

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The Great Australian Tax Grab How’s this for short-sightedness: The New South Wales Government’s infinite wisdom to increase taxes by $3.6 billion AUD to compensate for their years of inept mismanagement of states coffers will have a huge impact on the property sector at a time when it can least afford it.

NSW Labor Premier Nathan Rees and Treasurer Eric Roozendaal plans to raise $680 million by increasing the land tax rate from 1.6% to 2% for properties over $2.25 million in land value, essentially a 25% increase, which will increase holding costs for land owners, discourage developments and lead to an increase in rental charges.

The flow on from this will lead to further job losses in the property industry, which is already shedding staff at more than one hundred per week.

We argue that this is not the time for tax hikes, but for the government to show some innovative thought, boost confidence and stimulate the economy. Or at least start spending NSW tax payers money wisely. But then again, given the churn of Premiers in the state and thus their lack of accountability, what do they care?

London Luxury Home Prices Continue To Fall The world’s most expensive location for prime real estate behind Monaco, Central London has seen luxury home values fall for an eighth month. Such locales include Mayfair, St John’s Wood, Regent’s Park, Kensington, Notting Hill, Chelsea, Knightsbridge, Belgravia and the South Bank neighborhoods of London.

As recently reported by Bloomberg, in November the approximate average value of a house or apartment in the city’s nine most expensive neighborhoods fell 3.6 percent from October, according to an index compiled by Knight Frank. This represents the second largest drop since the index started in 1976. Furthermore, the figures show that property values declined 14 percent since the previous year.

Why is this? Quite simply, vendors are not holding out for emotional prices and are accepting that price reductions have to occur for a sale to be achieved.

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Prime Central London real estate has taken longer to register declines seen elsewhere in London because of a standoff between sellers and buyers over price. That ended in September, when the bankruptcy of Lehman Brothers Holdings Inc. caused demand to collapse from those employed in financial services, traditionally the mainstay of demand for expensive homes.

Unsurprisingly, the worst banking crisis seen since the First World War has translated into job cuts and reduced bonuses, and in London it’s likely to get worse before it gets better, with as many as 62,000 finance-related jobs forecast to be lost in London by the end of next year.

Interestingly, the properties least affected by the fall in values are those worth more than five million pounds. With the pound sliding it becomes more attractive to wealthy overseas buyers (yes, they still exist) and given the uniqueness of many of the properties in this category, and how infrequently they come onto the market, they still are highly sought after.

Appreciating that for a buyer with US Dollars, a 15 percent property valuation drop equates to a 35 percent slide when exchange rates are taken into consideration, property in excess of five million pounds is great buying.

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The Big Red Phone Box Collection Artist Finn Stone (notice the subtle name on the top of the box) has used former English telephone boxes as the basis of his latest collection.

The Lamp is eight feet tall and costs a cool $6,498 USD.

Here’s the chair:

Also to come is the sofa and the bath tub!

16 Luxury Homes: Hope Island, Sanctuary Cove Three stunning homes, three vacant blocks of land, and a water front parcel of land have just been listed by Marquette Turner Luxury Homes on Hope Island at Queensland’s Sanctuary Cove.

Sanctuary Cove is Australia’s leading lifestyle community offering wonderful facilities and 24 hour active land and water security. Sanctuary Cove has Foreign Investment Review Board (FIRB) approval for all foreign investors. It is set over 474 hectares and offers fantastic lifestyle options that are complimented by two championship golf courses, four harbours, 15 restaurants, harbor-side cafes and fashion boutiques. Sanctuary Cove also features an extensive recreational club, a Country Club and the five-star Hyatt Regency Sanctuary Cove Hotel.

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18 HOUSES: 3008 Hillside Walk – 711sq m - $1.125 million AUD 3009 Hillside Walk – 711sq m - $1.175 million AUD 3010 Hillside Walk – 711 sq m - $1.125 million AUD VACANT LAND: 3012 Hillside Walk ; 3011 Hillside Walk; & 3006 Hillside Walk; – All 711 sq m – All $465,000 AUD To view more information and see more images of each property, simply click on any of the images above. Alternatively, select this HOPE ISLAND link to go straight to all the properties and blocks of land available.

CONTACT: Michael Marquette on +61 433 170 170 or via email michael@marquetteturner.com.au OR Christine Watson on +61 414 352 680 or via email christine@marquetteturner.com.au

Design Miami: The Gold and Diamond Chandelier Encrusted with 220 carats of diamonds, the Gold & Diamond Chandelier has been created by London-based jewelry designer Solange Azagury-Partridge. It is made from delicate links suspended in arcs to form a pear shape that ends in a sharp point, reminiscent of the central medallions of ancient Persian rugs. The Chandelier is 18 caret white gold that has been blackened to create a smoky effect.

Whilst Solange Azagury-Partridge has had no formal training, this exquisite design be the selfconfessed “diamond lover” will be the centerpiece of Sebastian + Barquet’s exhibit at Design Miami.

More information: Check out the featured sites: Solange Azagury-Partridge; Sebastian + Barquet; Design Miami.

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Cheaper to Fly? The World’s Most Expensive Cities to Park Your Car Experts suggest that the price of parking your car is, in general, inversely proportionate to the amount of office space available.* Therefore, due to a relative glut in commercial office space in Australian cities, we have some of the highest parking rates in the world!

Monthly Parking Rates (all in US Dollars) 1.

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London City, UK $1,167 London West End, UK $1,136 Sydney, Australia $775 Hong Kong, China $742 Perth, Australia $610 Brisbane, Australia $592 New York, Midtown, USA $585 Tokyo, Japan $552 Stockholm, Sweden $509 Dublin, Ireland $508

Therefore, particularly to all you Aussies, there’s never been a better time to look for a more economical and sustainable method for your work travel arrangements. *the experts in this case are the Commercial Research team from Colliers International

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Luxury Sales in Sydney – What’s Truth & What’s Fiction? Part 1 of 2 Part 1 of a 2 part Investigation No matter where you go in property obsessed Sydney you will hear real estate agents, friends, family, neighbours and people from all works of life giving their take on how Sydney is faring in the Luxury Real Estate arena. I hear many people say that the Luxury market has remained largely unaffected. Is this the truth or are people blinded or generally ill informed?

It’s important to look at the volume of sales in Sydney’s most expensive harbour and beach front suburbs and for the purposes of my investigation I have used 2007 sales and 2008 sales to date (we are almost finished yet another year).

Marquette Turner Luxury Homes considers any property above $1 million to be in the Luxury category as only 3.65% of all residential property sold in Australia in 2007 achieved a price equal to or greater than $1 million. In other words over 96% of residential property in Australia was sold for less than $1 million in 2007 – it really highlights just how special and rare luxury homes are.

When looking at the very top end – (we call this our “Private Brokerage” end of the Luxury market) we have chosen $5 million as our benchmark figure. Any property sold at or above this price is part of our “Private Brokerage” results and represent the very finest homes sold in Sydney’s harbour front and beachside suburbs.

So to the truth – are Luxury sales in Sydney remaining largely unaffected by the economic upheaval that we are currently experiencing? Without going into a price debate I have chosen volume as our indicator as “Private Brokerage” homes are unique and are very difficult to compare simply by looking at sale price from year to year. They are very emotional purchases and appeal to a very limited and privileged few. So let’s let the figures speak for themselves: In 2007 in the Local Government areas of Sydney, Manly, Mosman, North Sydney, Waverley and Woollahra there were 379 sales of residential properties which qualified to be part of the Marquette Turner Luxury Homes’ “Private Brokerage” Results. In 2008 to date when looking at the same areas there have only been 202 sales which would make the grade – so have Luxury Property Sales been affected?

The simple answer is yes, they most certainly have – volumes are down by close to 50% for a myriad of reasons which we will explore in Part 2 of this fascinating look into super Luxury residential Sydney.

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Luxury Sales in Sydney: What’s Truth & What’s Fiction - Part 2 Part 2 of a 2 Part Investigation The low sales volumes that we have seen in 2008 have resulted from fear, necessity and pride.

Each has played a role in reducing the number of sales.

In so much as fear has contributed people are always cautious during times of upheaval or unrest.

Economically it has been a minefield of a year with Sydney property prices generally being stable or heading south. The stock market has shed billions of dollars and nervous investors and even more nervous fund managers have either panicked or halted all activity to see where it would lead – we certainly have a good idea of that now.

As interest rates increased early in 2008 many people feared that the return of Labor to the Federal Government would bring devastatingly high interest rates and therefore chose not to buy – again they played a wait and see game.

Vendors, convinced that the economic bliss was sure to continue refused to accept lower prices from buyers and the number of unsold properties has increased as the year has gone on. The financial turmoil has seen companies tightening their belts and in some cases withdrawing benefits, bonuses and international transfers.

This has greatly affected the number of “Private Brokerage” level sales and has played havoc with the top end Luxury rental market. Without companies paying absurd amounts of money to house executives the demand for top end rentals has all but dried up – with Luxury Landlords accepting massive cuts in rental amounts, moving back into properties or simply leaving them empty (Not very smart in most cases).

The final and least understood factor that has resulted in decreased “Private Brokerage” level sales is the age old problem of pride. The uncertainty that the year has provided has caused

22 many would be vendors to reconsider plans to sell in case they were seen by family, friends, colleagues and competitors as potentially having financial problems.

It has been reported in Sydney newspapers that journalists were waiting to see which Luxury Homes were put on the market as this may have been an indicator that a company or associated interest was struggling and in need of cash. It is amazing what people will do out of pride and emotion has played a huge part in the decreased sales volumes we have seen.

Fundamentally Sydney is well positioned. It has stunning natural beauty and there is a low rental vacancy rate and net immigration is quite high putting further demand on housing in the city.

This should see the market steady and confidence return in 2009, however we cannot ignore the differences between average or low end property and Luxury “Private Brokerage� Sales.

Multi-Storey, Over-Water Villas A little-known island, 130,000-square-meter island called Nurai, located northeast of Abu Dhabi, is the site of an amazing new residential resort. Consisting of one boutique hotel resort with 60 suites, 31 beachfront estates and 36 water villas, the project is a partnership between New York based Dror Benshetrit and the Paris-based firm AW2.

The multi-story water villas alone will span 515 square metres each, comprise three bedrooms, four bathrooms, a private rooftop terrace featuring a spa pool, private infinity pool, multiple decks, outdoor barbeque area, gourmet kitchen and concealed service quarters.

23 The private Ocean-side residences will feature five-bedroom and six-bathroom estates spanning between 3,000 and 6,050 square meters. These will include a private beach and terrace, rooftop garden with spa pool, infinity swimming pool, indoor reflecting pools, concealed service quarters, entertainment patios, outdoor dining areas, chef and show kitchens, and outdoor showers. The residences are on the market for in the vicinity of $US25 million.

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Newcastle – The Forgotten City Marquette Turner Luxury Homes does a considerable amount of work with clients in Newcastle selling their Luxury Homes. They want the wonderful features of the city to be properly and fully communicated to a national and international audience – it’s sad that the “local” agents focus on advertising in the local newspaper, which I must say is a mess of jumbled ads in no order whatsoever.

The advertisements are in agency order (advertising the agency) but are not in suburb or price order making the process of short-listing all but impossible. Some agencies choose to pack in over 50 property advertisements to each page, with luxury homes next to cheap apartments – therefore with no understanding of how to truly showcase a Luxury Home to a worldwide audience.

Newcastle is the city where I was born and educated - it has undergone tremendous transformation and has some of the most spectacular coastline and beaches I have seen anywhere in the world.

Most people wouldn’t think of Newcastle as the wonderful place I am describing because for too long it has been the forgotten city. Forgotten by successive Labor State Governments who have taken the votes of the city for granted and a short cited Council that has been factional and lost sight of what is in the best interest of the people they were elected to represent. I was in Newcastle in 1989 when the horrible earthquake struck and I have watched the slow (at times stalled) progress of the building recovery and still 20 years on there is an enormous amount to be done to repair and reconstruct.

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When we see Olympic Games awarded to cities and watch the progress they make in just 7 years to put on the showcase of international sport it makes me wonder why Newcastle is still crawling along? It’s a city that provides enormous lifestyle opportunities – it has great beaches, wonderful ocean baths, beautiful parks, a great University, easy access to the countryside, wine district and Port Stephens water wonderland. In short it offers lifestyle plus – and yet most people know little about it.

The entire Newcastle district has a population of around 500,000 people and is the seventh largest city in Australia – it was a city of coal and steel and is now a place of education and health services. I am extremely excited to have so many wonderful properties in Newcastle to offer people from around the world. Only two hours drive to Sydney it is perfectly positioned to accommodate every need and the magical harbour and beach views are magnificent. Let’s make sure that Newcastle is forgotten no more.

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We Can See Russia: Marquette Turner Featured in Russia’s Leading Luxury Magazine We can indeed see Russia from where we are, but no, we’re not in Alaska.

This article is actually absolutely nothing to do with Sarah Palin or the recent US Presidential Campaigning. Marquette Turner Luxury Homes has the privilege of featuring on the front cover of Russia’s leading Luxury Homes magazine, International Residence.

I briefly studied Russian as a language at university and got to try it out on the locals when serving in the military in Afghanistan and Kyrgyzstan a few years back, however, my translation abilities can’t quite cope with a magazine.

Nonetheless we invite you to visit their website, and indeed browse through the magazine by clicking on the front cover above, or CLICK HERE. Marquette Turner Luxury Homes is truly establishing itself as THE luxury agency with an International Focus, ably assisted by our colleagues of the Who’s Who in Luxury Real Estate, and we look forward to showcasing some amazing new properties in truly splendid locations in the coming weeks.

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Growing Pains: Michael Jackson Forced to Sell Neverland

It seems that no matter who you are, the credit crunch is snapping at your heals. And, as we seem to be hearing more and more each day, people from all walks of life are losing the battle.

Michael Jackson, he of the world’s biggest selling album of all time, “Thriller� (and on its 25th anniversary of being released) and (once upon a time) the undisputed King of Pop, has been forced to sell his ownership of his Neverland ranch near Santa Barbara in California.

Earlier this week, Jackson, 50, filed legal papers making the Sycamore Valley Ranch Company the new owner. Jackson, whose huge catalogue of hit records includes Billie Jean, Thriller and Man in the Mirror, has not lived at Neverland since he was acquitted of child molestation charges in 2005.

The property was bought in 1988 for $28 million and is situated on 2,900 acres, with a 14,000 sq. ft. main house Jackson initially sought to turn into a fantasy land, and is ironically named after an island in the story Peter Pan, where children never grow up. He built a zoo and fairground on the 2,800 acre (1,100 hectare) property but it was closed in 2006 after Jackson failed to pay his staff or maintain proper insurance. It is not clear what will now happen to the property.

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Customise Your Own Luxury Bathtub Gruppo Treesse gives you a chance to order a custom bathtub. The default designs are simple and provide an excellent canvas that allows you to customize at your whim.

The Epoca, Epoca Egg, Nina, and New Classic Young designs allow touches such as Swarovski crystals, decorative designs, capitonne upholstery, all of which will seriously add an original and person touch.

29 The Seven Deadly Sins – One of them is Greed It’s amazing to look at what has happened over the last 18-24 months with regard to oil pricing.

It was announced earlier in the year that it was almost a certainty that the price of petrol/gas would reach $8 a litre in the next 12 months in Australia. Like most other people around the world I braced for the ever increasing oil price, not knowing how consumers would afford such an increase in price.

In mid 2008, it was announced that grocery prices in Australia had increased by around 40% in just 12 months. This came as no shock as families large and small were feeling the effect of the increased price of energy. Whether a car owner or a user of public transport price increases could be felt everywhere – but wages certainly didn’t increase by 40% in the last 12 months as did grocery prices.

I watched with interest as OPEC met to discuss increasing oil production to assist the US and other countries in controlling the ever increasing cost of goods and services caused in no small part by the massive cost of oil (thus energy) which we rely on to survive in our economy. The result was no change in production levels which ensured the continued soaring price of oil and the ultimate crossing of the point of no return. In other words oil reached a point whereby the cost of living became too high for people to survive and the rest is history – we are now living the result of the oil price greed.

There are so many reasons in addition to the price of oil which have caused the world to be in the position that it is currently in however the price of oil has played no small part. I am thrilled to see the pricing fall and I have no sympathy for those countries that showed little foresight in allowing oil prices to remain at unsustainable levels – they now have to deal with pricing which is sure to be a fraction of the highs they enjoyed and I’m sure the price of oil is going to continue to fall – it’s music to my ears!

Greed is never a nice thing to watch and be part of and ultimately it isn’t something that leads to positive outcomes for those with greed in their hearts. As the world, soon to be led by President-Elect Obama, searches for alternative energy sources it may be just a matter of time before oil greed is a thing of the past – let’s hope for all our sake’s!

Michael Marquette

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Luxury Real Estate Board of Regents Continues Its Expansion in Australia

SEATTLE - Luxury Real Estate’s Board of Regents announced today its continued expansion in Australia with Marquette Turner Luxury Homes, which will be the exclusive representative of the New South Wales, Australia territory.

LuxuryRealEstate.com is the most-viewed luxury real estate Web site in the world, featuring more than 66,000 high-end properties in 106 countries.

Marquette Turner Luxury Homes specializes in the sale of luxury properties in New South Wales, with a particular focus on the cities of Sydney and Newcastle. Established by Michael Marquette and Simon Turner, the Agency is at the forefront of luxury real estate in Australia.

“Marquette Turner Luxury Homes has quickly become an important part of our international network, and I’m pleased to offer them this place on our Board of Regents,” said John Brian Losh, CEO and publisher of LuxuryRealEstate.com, and CEO, chairman and broker of Ewing & Clark, Inc., Seattle’s oldest real-estate brokerage.

The focus of Marquette Turner Luxury homes is on satisfying the long-term needs of their luxury clients. The firm is highly selective in choosing which clients to work with and offer an extremely personalized boutique approach.

Michael Marquette, co-President of Marquette Turner said: “Who’s Who in Luxury Real Estate has no peer when it comes to showcasing luxury property from around the world. Having been chosen to represent Australia’s premier city, Sydney, on the Board of Regents, we are truly at the pinnacle of worldwide luxury real estate. We look forward to pioneering and partnering with the finest Luxury real estate organization and it’s members throughout the world.”

The Board of Regents is a prestigious affiliation of luxury brokers, which forms the governing body of the global Luxury Real Estate network. It is comprised of 84 brokerage firms representing more than 600 offices and 1,900 luxury real estate professionals from around the world. Each Board of Regents member is selected because of his or her qualifications and commitment to the Luxury Real Estate brand.

31 For more information on Marquette Turner Luxury Homes, visit www.marquetteturner.com.au.

For more information on the Board of Regents, visit www.Regents.com.

About the Luxury Real Estate Board of Regents The Board of Regents is an exclusive network of the world’s most elite luxury real estate brokers, comprised of the most legendary names in the industry selected by Luxury Real Estate CEO John Brian Losh. The Board of Regents is the governing body of Who’s Who in Luxury Real Estate, the worldwide network of luxury real estate brokerage firms. Members of the Board of Regents are marketing experts, providing innovation and unparalleled service to their clients.

For more information, visit www.LuxuryRealEstate.com or www.Regents.com.

Proposition 8 – Overcome Our Differences There is nothing worse than hearing that minority groups are working or fighting against each other. Proposition 8 has certainly been one of those issues that seems to have pitted minority groups against each other which personally makes me feel very sad.

I’m sad for many reasons. Firstly minority groups generally have prejudice to overcome as a matter of course without causing further grief for each other. Secondly when I look at history (often in total horror and despair) I look at how hard minority groups have had to fight to gain equal rights – or any rights at all. I guess when I look at these things I feel very lucky, almost embarrassingly so. I am a white male born in Australia to two white married parents. I guess from that perspective I had it very easy.

When I look at how hard women fought for equal pay, the right to vote and even the right to education (many countries still do not recognize this equality) I feel as though I have had it easy.

When I think of the Australian Aborigines who were not even considered Australian citizens and thus had no right to vote until 1967 (only 9 years before I was born) I feel like I was born a little luckier than others. When I look at the Tasmanian Aborigines that were literally wiped out – complete genocide (probably the darkest hour in Australia’s history) I feel as though I was born lucky.

When I consider the holocaust and mass genocide of around 6 million Jews I feel lucky to have been born in 1976. I feel immense respect for those who suffered, survived and even prospered through that period through intestinal fortitude that cannot be explained, and commitment to family and friends that is indescribable.

I cannot put myself in the position of a gay, lesbian, bi-sexual or transgender person who again as a minority was fighting in the Stonewall riots in New York or the riots that have become the Sydney Mardi Gras festival, celebrating diversity and freedom in Sydney and throughout Australia. So many people have given so much for the recognition of what we all take for granted and yet there is still so far to go. I want to be part of that going forward and Marquette Turner Luxury Homes as a company is committed to overcoming prejudice of all types.

These are all events endured by minority groups and the last thing that is needed is for minority groups to fight or contest against each other. When we look back at history we learn so much –

32 we need to look at history to learn that we cannot let the same events repeat. I find it hard to believe that it became legal to be gay or lesbian in NSW in 1985 (I was 9 years old).

The main story of the day with regard to Proposition 8 has been the support the Mormons have given to defeat the rights of Gay and Lesbian people to marry. I find it staggering that a church could waste $25 million opposing Gay Marriage when God in my world is wonderful, accepting, joyous, happy and good. Why spend such an enormous amount of money preventing people from having the right to share and express their love in a legally recognized way? Imagine what this money could have done for the many starving people throughout the world?

I respect the fact that the Mormon Church exists and has the right to – past that point I have no interest in bigotry or causing mischief. I respect minorities of all types and in terms of the Christian Church, Mormons are certainly a minority.

I know that the media is reporting that older coloured Americans voted overwhelmingly in favour of Proposition 8. Let’s ensure that we don’t get caught up with minority group against minority group.

We must respect our differences and embrace our similarities – we have more things in common than not. Our similarities outweigh our differences. Please do not allow ourselves to concentrate on differences – we are all human beings – we all deserve the same rights and we all should care for each other. This is my view and the way we treat each other at Marquette Turner Luxury Homes.

Manage Yourself to Achieve Greatness Ambition, drive, and commonsense will always stand you in good stead, but to really get ahead you must understand yourself. Here are some quick questions that I’ve found to be very useful in getting myself organised so that I can kick bigger goals: · · · · ·

“What are my strengths?” – there’s nothing like critiquing yourself to better understand your skills, habits and patterns.

“How do I best operate?” – do you work best by listening, reading, or watching and in what kind of environment are you most suited?

“What are my values?” – knowing your ethics and morals will help determine the organization and people that are you are best matched with.

“Where am I most happy?” – we all want to feel a sense of belonging and feel valued.

“How can I contribute?” –your responses to the above questions will best determine what skills, strengths, values etc you can best contribute.

By answering the five questions above in an honest and pragmatic fashion will help you to better understand yourself. By better understanding yourself, you’ll be in the best position to organize and systemize your life for true greatness.

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Who’s in Recession?

The news is moving more quickly than I can keep up with. I have just arrived back to the office after running my dogs and CNN announced that Germany is in recession. So when we look at the world’s largest five economies, three are in recession, the United States is all but in recession and China while not in recession is going to grow at a much reduced rate than has been the case in recent years.

These are the five largest world economies: 1. United States – One more quarter of negative growth and will be officially in recession 2. Japan – In recession 3. Germany – In recession 4. China – Not in recession but growth estimates slashed (October Growth rate down 3.2%) 5. United Kingdom – In recession

I Have A Dream: NSW Stamp Duty Slashed Over the last month or so I have had numerous discussions with people from all around the world about the level of Stamp Duty we pay in Australia on property transactions. In my opinion it acts as a huge disincentive for people to transact and puts additional and unnecessary barriers in place for buyers and vendors alike.

For those that aren’t aware buyers in NSW pay around 4% tax to the State Government - in addition to the purchase price of their property when they buy.

Who can forget the effect of the vendor duty that the New South Wales Government (for our international readers, Sydney is the Capital City of the State of New South Wales – NSW) decided to charge on the sale of investment properties. That 2.25% duty on the sale of

34 investment properties (paid by vendors to the Government – calculated as a percentage of the total sale price) stalled the sale of investment property in the State and made purchasing investment property look very unattractive.

Thankfully common sense prevailed and the duty was removed. New South Wales lost hundreds of millions of dollars to States like Queensland as investors chose to purchase elsewhere. South East Queensland did very well out of what can only be described a shocking decision. So what would happen if New South Wales slashed the stamp duty paid by purchasers? Would we see huge amounts of investment coming into the State from Queensland, Victoria and other States?

It’s an interesting question and one I’d like to see debated as increased taxes, tolls or duties is not the way to stimulate the economy. New South Wales is a wonderful part of our country and Sydney is one of the most beautiful cities in world – if only we had a State Government to match.

The UK in Recession It’s difficult to watch the television, read newspapers or generally go outside of your home right now without being bombarded with negative news on the economy. The US economy is all but in recession, New Zealand is already in recession, Japan is in recession and as of today so is the United Kingdom.

The Governor of the Bank of England has predicted no growth in the UK in 2009 and believes that the recession will be as bad as the early 1990’s. The British Pound has hit a six year low against the Euro and inflation in the UK is currently at 5% (the target set by the Bank of England is 2%).

35 Deflation is now a real threat in the UK which can be just as concerning as inflation. Deflation refers to a general decline in prices, often caused by a reduced supply of money or credit. It can also be caused by a decrease in spending by Governments, consumers or investors. Deflation is simply put as a decrease in price due to decreased demand – therefore the decreased demand results in decreased production and increased levels of unemployment.

With this deflationary threat looming it is likely that we will see interest rates continue to fall with some economists predicting UK interest rates will drop to around 1%. The recent massive 1.5% rate cut in the UK and two consecutive monthly cuts in Australia (1% and 0.75% respectively) are sure signs that central banks have finally seen just how serious the current situation is. I believe it’s a perfect time to purchase property safe in the knowledge that interest rates are going down – this is a wonderful situation.

Short Vs Long-Term Interests: The Challenge For Australia’s Banks The Reserve Bank of Australia’s (RBA) decisions to decrease interest rates over the last few months were welcomed by borrowers and lenders alike, most recently with the 0.75% cut in October and the 1% cut in September.

The reality is, however, that most of Australia’s lending institutions have chosen not to pass on the full cuts, citing the increases in their funding costs.

This has left a gap between the fall in official interest rates and the rate reductions for a standard variable mortgage by most banks. The banks obviously have responsibilities to their shareholders, but the simple fact is that the RBA did not make these cuts out of a flight of fancy.

The cuts were made with the intent that the banks would pass on the full rate decrease.

As the Acting President of the Real Estate Institute of Australia (REIA), Chris Fitzpatrick recently stated: ‘The banks really need to think about their corporate responsibility to their customers and pass the entire rate cut to where it is needed and where the RBA have intended the cuts to go, the

36 people. The RBA does not cut interest rates without reason, they are doing what they see fit to take the financial pressure off households around Australia and to stabilize the economy while keeping inflation in check.’

Obviously, the increase in the banks “bad debts” have not helped, with exposure to companies such as the Lehman Brothers, Allco Finance Group, ABC Learning weighing them down.

Bloomberg report that Bad debts jumped to A$930 million in fiscal 2008 from A$496 million a year earlier. Bad debts as a proportion of loans increased to 0.26 percent from 0.14 percent a year ago. Australian banks have investments totaling A$7.4 billion in troubled companies and it is predicted that Australia’s four biggest banks will record about A$7 billion in bad debts this year.

Quite simply, however, it is in the long-term interests of lending institutions that homeownership is affordable and an attractive investment option. The will have a positive effect on the overall Australian economy, which is something that right now is what everyone is looking for. Simon Turner

More information: Go to the RBA; Bloomberg and REIA’s websites

The State of New South Wales…Literally The City of Sydney and The State of New South Wales are both projected to grow by huge amounts in the coming years. As Australia’s largest state, and indeed the only one in recession, such growth could perhaps be the state’s saving grace and is certainly a rare bit of good news.

· ·

63% of NSW residents live in Sydney.

By 2056 the population of Sydney is projected to reach 10 million.

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· · · ·

The NSW population is projected to increase from 6.82 million in 2006 to 8 million in 2022 and 9 million by 2036.

By the year 2036, the NSW population will reach 9 million and there will be 3.7 million households.

Sydney’s population is projected to increase from 4.248 million in 2006 to 5.98 million by 2036 (up 40%) The number of households in NSW is projected to increase from 2.65 million in 2006 to 3.72 million by 2036 (up 41%) The number of Sydney households will increase from 1.62 million in 2006 to 2.35 million by 2036 (up 46%) The number of lone person households is projected to increase from 646,500 in 2006 to 1.06 million by 2036 (up 64%)

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Pete Sampras Sells His Californian Home Whatever level of real estate, at whatever price, there are still numerous stories of people that, whilst not necessarily “doing it tough� are still struggling to find success in the current real estate market.

The world’s greatest ever tennis player, Pete Sampras (based on Grand Slam titles I must add, before I get heaps of corrections!), recently sold his 10,000 square foot mansion in Beverly Hills, California for $2 million USD less than the $25 million USD he was looking for when he put it on the market in January 2008, having paid $8.3 million USD for the six bedroom property in December 2001.

For those interested, the property has six bedrooms, 12 bathrooms as well as its own guest house, gym, tennis court, and theater.

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If A Deal Sounds Too Good To Be True…

Overseas property still remain enthusiastic when the right investment is presented to them, as the results of a campaign of 14,000 investors displayed when questioned on the subject of “Irresistible deals”. investors were presented with the opportunity to acquire an apartment in Paris with a nine year rental guarantee, taxes paid by the government, 100% finance available and with a total investment requirement of $6,100 US (approximately $9,400 AUD , £4,000, 4,700 Euros)

The world of international property investing is changing. The sorts of deals available stack-up from every angle requiring low investment capital, they would have been unheard of a year or so ago.

Another example of what is now available to overseas investors can be seen with properties for sale in Buffalo, New York State where investment homes start from as low as £7,333 see example here: Low Cost Investment property

More information: Currency Exchange http://www.xe.com (this is where we took our approximate figures from)

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The Next Seven Star Complex Z10 Tower is a seven star hotel, luxury residential apartments, and satellite offices all in one place that combines sophisticated style and cutting-edge technology all at once. The diamondshaped glazing thermally protects the outer skins of the building, which in turn increases the magnificence of the building and allows 360 degrees views.

Designer Dinesh Doshi has constructed a visual beacon, with the main towers backed with a group of six complexes consisting of high-end living, providing its residents with their own elevators/party terraces, pools and spa-baths all whilst enjoying the calming effect of the Persian Gulf.

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The World’s Top 10 Millionaire Households Even during these tough times, there are more millionaire households in the world than at any other time, with the growth highest in China and Europe.

The total number of millionaire households in the world (ie. those with assets of $US1 million or more) now stands at 9.6 million.

This represents only 0.7% of all households, owning $US33.2 trillion. This is a staggering one third of the world’s entire wealth which just goes to show the inequality of wealth.

Here’s the Top 10 of millionaire households, and I’ve also included the countries’ ranking for households with in excess of $US100 million (with Australia added on, given our Australian roots).

No. 1: USA Total millionaire households: 4,585,000 Total population: 301,139,947 Total $100 million+ households: 2,300 (rank: 1)

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Bill & Melinda Gates, and Warren Buffet No. 2: Japan Total millionaire households: 830,000 Total population: 127,433,494 Total $100 million+ households: 1,300 (rank: 2)

Softbank President Masayoshi Son with Actress Ava Ueto No. 3: Britain Total millionaire households: 610,000 Total population: 60,776,238 Total $100 million+ households: 810 (rank: 3)

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Virgin Group founder, Sir Richard Branson No. 4: Germany Total millionaire households: 350,000 Total population: 82,400,996 Total $100 million+ households: 620 No. 5: China Total millionaire households: 310,000 Total population: 1,321,851,888 Total $100 million+ households: 180 (rank: 13) No. 6: Italy Total millionaire households: 270,000 Total population: 58,147,733 Total $100 million+ households: 530 (rank: 5) No. 7: France Total millionaire households: 265,000 Total population: 63,713,926 Total $100 million+ households: 260 (rank: 9)

44 No. 8: Taiwan Total millionaire households: 220,000 Total population: 22,858,872 Total $100 million+ households: unknown No. 9: Switzerland Total millionaire households: 205,000 Total population: 7,554,661 Total $100 million+ households: 300 (rank:8) No. 10: Brazil Total millionaire households: 190,000 Total population: 190,010,647 Total $100 million+ households: 210 (rank: 10) No. 13: Australia Total millionaire households: 135,000 Total population: 20,434,176 Total $100 million+ households: 150 (rank: 14)

PBL Chairman, James Packer

More information: Figures taken from a study by Boston Consulting Group

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Luxury Is….

In a world that can be brutal, harsh and tough going it is worth taking time to consider what we have enjoyed and what it means to us.

I thought it was an important time to consider what “Luxury” means to us all. It’s a chance to reflect over Thanksgiving and put into words what we can too often take for granted. The “Luxury is” is an amazing combination of two words – it is amazing because it causes us all to feel something, to imagine.

So what is Luxury to you? In 50 words or less write what “Luxury is” to you. We will publish as many responses as possible. Happy Thanksgiving!

Michael Marquette: Luxury is more than I can touch, it’s intangible. Luxury is an emotion, felt when I dare to dream of something that I value, that I have desired. It drives me forward, forces me to act, allows me to feel special, successful, spoiled, lucky - fortunate in every way.

Christine Watson: Luxury is the feeling of soft silk on your skin, wearing diamonds and pearls, rose petals scattered everywhere, being pampered and spoiled. Luxury is first class air travel, a personal valet, and Jimmy Choo shoes. Luxury is not having the need for anything, only the want.

Simon Turner: The ability to say sorry. The capacity to say I’m wrong. Knowledge: the desire to increase it and the timeliness of drawing upon it. Peace & Quiet. Happiness, Healthiness and Hope. Intangible.

Alex Lee: Luxury is excellence achieved.

Amy Cooper: Luxury to me involves good friends, wine and seafood in an ambient waterfront location! It also involves hot men, but let’s not go there!

Jayke Menese: Luxury is a home in Montreaux with a view of Lake Geneva. Can’t get better than that. The best setting and views in the world…”

Kevin Hussein Nguyen: Luxury is getting a full night’s rest, uninterrupted by nothing but sweet dreams.”

Thank you to everyone for sharing!

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The World’s Most Exclusive Private Club Ever fancy owning your personal New York three-bedroom apartment? Your own luxury villa in St. Barth’s?

Now, via Solstice, the international private destination club with a collection of ultra-luxury, staffed vacation homes around the globe, the unimaginable becomes possible.

The Solstice Club model is a direct response to today’s economic environment. For less than a down payment on one comparable second home, Solstice members achieve greater variety (currently 14 homes and a private yacht), with zero hassles of maintenance, as the homes are staffed; and best of all, Solstice offers “participation” in the potential rising value of one’s refundable deposit.

47 The more financially-savvy way to own second homes, the equity-based Solstice has been lauded the “Private Club of the Year” for the third consecutive year by Business Britain. The entire home collection and Solstice I, the club’s private yacht, is available to view at www.solsticecollection.com.

Luxury Homes: 15 Residences, Four Seasons Fully managed and serviced by Four Seasons, the 15 Private Residences on Bora Bora represent one of the most exclusive and desirable resort - home opportunities in the world. Providing either lagoon or Pacific Ocean frontage, these rare and precious sites range from .5 to 1.25 acres.

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You may choose from a portfolio of exquisitely appointed architectural designs ranging from 4,000 square feet/ 370 square metres to 11,500 square feet/ 1,070 square metres or create your own personal vision of paradise. Providing either lagoon or Pacific Ocean frontage of .5 to 1.25 acres, owners may choose from a portfolio of exquisitely appointed architectural designs ranging in price from $6M to $17M USD. View the video VIEW MORE DETAILS FYI: For more information relating to purchasing these fantastic homes in Bora Bora, Tahiti, please contact Michael Marquette on

+61 433 170 170

michael@marquetteturner.com.au or Christine Watson on or via email at Christine@marquetteturner.com.au

or via email at +61 414 352 680

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The Future of Newcastle – Thanks to GPT After years (at least 20 – maybe even 30) the money to revitalize the city of Newcastle is on the way. After the Newcastle Earthquake in 1989 there were as expected – losers and winners.

Hamilton did well although the movement of shops into shopping malls outside the city in the suburbs didn’t assist the inner city Newcastle area.

With a mostly Liberal Federal Government, a completely inept Labor State Government and a Council that seems to deliberate and deliver nothing, the last ten years have achieved nothing for Newcastle. It’s exciting to see that private enterprise has come to the party with enormous vision and opportunity for the “forgotten city”.

The GPT Group (who also own Charlestown Square) is putting forward a sensational proposal to revitalize the City and plan to commit $650 million to the project. Like with all investments of this magnitude by locally based companies there are parts of the proposal which will not be perfect for everyone although GPT deserve the total support of everyone in the community.

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When a corporation shows such confidence in a community like Newcastle (now the seventh largest city in Australia behind The Gold Coast) it should be embraced. GPT will assist Newcastle to move forward and repair the damage and neglect of the past with a vision for the future.

I hope the dysfunctional state government offers to pay for a high speed train link to Sydney to give our Newcastle – the beachside and harbor city, the best chance possible of growth.

Regardless let’s hope for Kevin’s sake that the Governor sacks the NSW Government (Better now than risk it at the Federal election in 2010).

More information: www.newcbd.gpt.com.au

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Where The Clinton’s Lay Their Hat Hillary Clinton appears ready to accept President-Elect Barack Obama’s offer to be US Secretary of State in his Administration once he takes office on January 20th, 2009.

By giving up her New York Senate seat where she has carved out a respected position, she will become the face of US diplomacy overseas and the third female secretary of state, after Madeleine Albright and Condoleezza Rice.

The prospect of Senator Clinton as secretary of state has been welcomed across the political spectrum, even if there remains some concern over the uniting of two bold and former rivals.

So, from a property perspective, the Clinton’s 6,478 sq ft property on Whitehaven Street in North-West Washington DC will become very useful (below).

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The Clinton’s also live in a 5,232 sq ft residence, with five bedroom’s and 4 bathrooms in Chappaqua, New York.

(images from Microsoft Virtual Earth)

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The Atlantis Hotel: The Most Expensive Launch Party A spectacular light show was put on at the unveiling of the new $1.5bn marine-themed Atlantis resort built off the Gulf Coast of Dubai on Palm Jumeirah, an artificial island in the shape of a palm tree.

A host of international stars including pop diva Kylie Minogue, who was paid a reported $US4 million for her performance, and Hollywood stars Robert de Niro, Charlize Theron, and Chris Tucker joined celebrations marking the opening of the resort. Organisers claimed that the fireworks display for the $20m party could be seen from space. You can watch directly from your desktop by pressing play on the image below.

Created by Kerzner International Holdings Limited, the stunning new 1,539-room resort first welcomed guests in September 2008. Nested atop the crescent of The Palm Jumeirah, the opening of Atlantis, The Palm the resort encompasses a 46 hectare site with 17 hectares of water themed amusement at AQUAVENTURE, extensive fresh and salt-water pools and lagoon exhibits, an open-air marine habitat, a seemingly endless stretch of beach, luxury boutiques, numerous dining choices including four celebrity chef restaurants, an exciting nightclub, a Spa and Fitness Club, and 5,600m2 of meeting and function space.

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The Atlantis wouldn’t be complete without its amazing underwater world. The Lost Chambers Suites, with both bedroom and bath views directly into the mesmerising underwater world of the Ambassador Lagoon, are quite unique.

Stretching over three floors, the Neptune and Poseidon Suites welcome guests with a grand foyer leading down a sweeping staircase into an elegant aquatic-themed dining and living area, with butler’s pantry. Then, of course, there are the sumptuous bed and bathrooms with their underwater views. If guests are unable to tear themselves away from watching the 65,000 marine animals, a 24-hour dedicated private butler is available to serve refreshments.

More information: The Atlantis Palm

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The Beckham Effect When most houses in the UK are losing value one home is actually increasing at an enormous rate. This house is the former home, and indeed the birthplace of soccer mega-star David Beckham, the property which should have a price tag of about £250,000 based on the local Leytonstone, East London market.

The three bedroom house, however, has been listed for sale for a staggering £850,000 and an offer of one million pounds has allegedly already been offered by an Australian collector of Beckham memorabilia.

If every property that Beckham ever lives in should turn to gold, imagine the huge theoretical increase in value to David and Victoria Beckham’s current home on San Ysidro Drive in Beverly Hills California, which they purchased for $18.2 US in 2007. (image courtesy of Microsoft Virtual Earth)

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Award Winning Villas in Tuscany In the rolling Tuscan hills not far from the mythic cities of Florence, Siena and San Gimignano is one of the largest private landholdings in all of Italy. Two grand cypresslined lanes ascend to a historic castle. Dotting the estate are restored Casali (farmhouses) each with dramatic glass-tiled private pools. This treasured property is Castello di Casole, the newest and most romantic addition to the Timbers Collection portfolio.

Castello di Casole has a home to suit you with residences located privately throughout the estate or together in an enclave, just steps away from a five-star hotel.

60 A Signature Development of Timbers Resorts, the Castello di Casole estate is one of the largest landholdings in all of Tuscany - a 4,200-acre game reserve and working agricultural estate actively producing vintage wine and olive oil.

Commanding the most favored sites throughout the property are the ruins of modest Casali, each of which are unique to each other and are separately named with their own custom style, layout and color scheme. Each Casale farmhouse is a collection of main home and outbuildings, which now serve as unique and inviting guest quarters. Indoor spaces for each family compound are 4,000 to 7,000 square feet or 370 to 650 square meters.

FYI: please contact Michael Marquette on +61 433 170 170 or via email at michael@marquetteturner.com.au

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Michael Marquette & Simon Turner 2008 Winner’s of the World’s Most Outstanding Agency Under 2 Years Old by the Who’s Who in Luxury Real Estate Commencing operations on Australia Day 2007 (January 26, 2007) Marquette Turner Luxury Homes specializes in the sale of Luxury property in Australia with a particular focus on the cities of Sydney and Newcastle in New South Wales, and now also showcase luxury homes in Queensland and Victoria.

Established by Michael Marquette and Simon Turner, the Agency is at the forefront of Luxury real estate in Australia and indeed the World.

Michael Marquette has a background in Medicine and was the owner of a large retail and wholesale business before entering real estate, whilst Simon Turner spent nine years as an Intelligence Officer in the Royal Australian Air Force and served in Afghanistan. He also has a Masters Degree in International Law and together with Michael brings unique and diverse experiences and talents to the Marquette Turner Luxury Homes team.

Marquette Turner Luxury Homes has pioneered a ground breaking service called “Concierge“ a trademarked service which aims to remove stress and provide exceptional levels of client care. This includes Luxury product placement, property cleaning, the provision of fresh flowers and property styling. “Concierge” also arranges relaxation experiences such as day spa pampering, Harbour cruises, lunches and many other tailored Luxury services.

The focus of Marquette Turner Luxury Homes is on satisfying the long-term needs of their Luxury clients. The firm is highly selective in choosing which clients to work with and offer an extremely personalized boutique approach.

All Directors have formal Tertiary qualifications in Negotiation and are strong believers in ongoing training and development. As Chief Negotiator for the company Michael Marquette is considered one of the best Negotiators in real estate.

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Showcasing Luxury Homes To The World

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