Property prices soar in New York that sees a new record price: $130 million for a triple penthouse on Park Avenue. Approximately €102 million for 1200 square metres still to be built. The triple penthouse will occupy the top three floors of a tower under construction at 502 Park Avenue whose construction will begin in early 2015 and to be completed in 2017. The most attractive part of the apartment is probably the beautiful terrace of 100 square metres that will directly overlook Central Park. All 31 apartments in the building will be sold with prices ranging from $12 million for an apartment on one floor, 50 million for two floors and 130 million for those with three floors. Further evidence that the luxury property market doesn’t appear to be affected by the economic crisis. Even in Italy the real estate industry
is growing with an increasing number of people coming to Italy in search of second homes, farmhouses in the countryside or for luxury apartments located in the historic centres of the most beautiful villages and towns in Italy with Tuscany being at the top for this search. This region remains the favourite for foreign investors who come from all over the world looking for the perfect property. So far this year, there has been an increase in enquiries, from 30% to 50%. With luxury real estate enquires, with a value ranging from 750,000 to 4 million Euros. The interests of international buyers are moving to Puglia, Liguria and cities of art such as Florence, Venice or Rome. Italy has nothing to envy in the American market, even if the lower prices remain, in the collective imagination, Italy is the best country in which to invest in a second home for a high quality of life.
