Although Monaco is the second smallest state in the world, it is the temple of extravagant buildings which are enough to make royalty and jet-setters envious. The Principality of Monaco is well known indeed for its properties which compete in prestige and splendour. It’s therefore no big surprise to learn that the most costly luxury apartment in the world is found there.
Luxury apartment: the record breaking penthouse is found in Monaco
The construction of the “Tour Odéon” building located in the Annonciade area will have lasted 5 years. This skyscraper built at the side of a hill (170 metres high) profits from a breath-taking view of the sea. Therefore it is clearly impossible not to notice this amazing building on the outskirts of Beausoleil, a famous city in the Alpes-Maritimes department.
This incredible luxury apartment with an area of 3,300m² occupies the last 5 floors of the prestigious skyscraper designed by Alexandre Giraldi and carried out by Vinci Construction. The penthouse is equipped with everything that it needs to plunge its buyer into a world of luxury: a huge living room, five bedrooms, a dining room which has a ceiling height of an estimated 6 metres. In addition, there are 5 kitchens (one per floor) which are connected by a service elevator. The prestigious apartment also counts a private cinema, a sauna and a steam room, an infinity edge pool and the huge water slide which goes with it. The benefit of this ultra-luxurious property, which overlooks Monaco and offers a splendid view of the Italian coasts, offers all the amenities that dreams are made of.
All this luxury obviously comes with a price. The apartment which was valued many times was eventually sold for 300 million euros. We can estimate the square meter to be around 91,000 euros, which makes this the poshest apartment and also the most expensive within the Alpes-Maritimes, a department already known for its many luxury properties. The project was carried out by Marozco Group who justified the price by the materials used in construction (notably precious wood like oak, marble, etc.)
The negotiation of this high-end jewel may be difficult due to the upscale amenities which accompany it. The concierge service and other current services in the hotel sector are available 24/7. The different rooms are equipped with the latest high-tech luxury appliances which guarantee the optimal functioning of home systems. Furthermore, you can’t neglect the fact that famous designer Alberto Pinto as well as the landscaper Jean Mus have left their mark there.
Consequently, the most expensive luxury apartment in history attracts a number of potential clients and investors.
The huge trend of luxury apartments
Although Monaco is one of the cradles of luxury apartments, the market of luxury reigns in numerous other countries as well. Billionaires collect properties combining luxury and comfort to ensure optimal well-being during their stays in foreign countries. Having a prestigious property at their disposal allows them to confirm their economic power and also to make sure that they have somewhere to stay wherever they go.
Many duplexes with caretakers and lifts are proudly constructed on the European continent. In London, for example, one of the apartments of the very upscale residence of One Hyde Park is offered for sale at 170 million euros.
But skyscrapers are also part of the American landscape. In New York, on the side of Manhattan, a penthouse from Tour One 57 has been sold for a sum exceeding 90 million dollars. It seems that the modernity and the premium amenities installed in these apartments as well as the special glazing used are the features of this luxury terrace residence. The New York City Spire building shelters a 278m² luxurious apartment which is waiting for a buyer to invest 100 million dollars.
Note however that these high-end apartments are not all necessarily valued at hundreds of millions. Some are offered at lower rates, but the architecture, the privileged sector and the amenities are what make them real estate luxury treasure.
The Spencer Condominium (New York) is valued at 29.5 million dollars whereas the Faena House Penthouse (Miami) was sold at 50 million dollars, the same price as the Opus Penthouse (Hong Kong). As for the South Bank Penthouse (London), the displayed price is 78 million euros. The new luxury area of Milan, Porta Nuova, also makes you dream, particularly Bosco Verticale (literally “the vertical forest”) has apartments which will be sold at between 665,000 and 2 million euros.
It is clear that despite the large sums that these duplexes represent, none have reached the price of the recent Monaco apartment, built at the initiative of Prince Albert II.