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Jackson Hole, Wyoming - “While it is impossible to predict the future, three strong quarters of growth in the Jackson Hole real estate market are certainly strong indicators of a recovery. Particularly interesting is the fact that this is happening across the board in all sectors and virtually all areas of the market. You cannot ignore the fact that this is also happening while the average price of real estate is increasing. This would strongly indicate that the trend of sales being fueled by ever decreasing prices is also over.” Click here for more information.

Ed Liebzeit, president and chief operating officer Jackson Hole Sotheby’s International Realty

Denver, coloraDo - The luxury-home market in metro Denver is making a comeback, with sales already exceeding 2011 totals.

Fuller Sotheby’s International Realty sold 109 homes in the million-dollar-plus category last year, and have already exceeded that number by the third quarter of 2012. “Tighter inventory and increased buyer demand continues to propel the market in a positive direction,” said James Simpson, the firm’s managing broker. According to the Genesis Group “Mid-Year 2012 Metro Denver Housing Overview,” “The metropolitan Denver area is positioned to improve as the national economy begins a stronger recovery. We forecast 5,500 new production home sales for 2012, approximately a 33 percent increase from the low levels of 2009-2011.” Contributing factors include “improvements in job growth, an upswing in consumer confidence in the Rocky Mountain region and a significant increase in home values up 4 percent from last year, marking the first measurable increase in five years,” said Scott Webber, the president, Fuller Sotheby’s International Realty.

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Jackson Hole sotheby’s international realty in Jackson Hole, Wyoming, Usa property ID: 4394892 • $7,900,000 USD

� am proud to present this issue of Perspectives, where we provide current views from real estate markets all over the world - direct from our network of experts. The United States, for instance, continues to show signs of improvement in terms of number of transactions and average sales price, and we are encouraged by these indications of an improving real estate market.

On a global front, it appears that Europe is showing signs of improvement as is the United Kingdom. Although the Asian market has slowed down in recent months, analysts forecast continued strong growth, particularly in China next year, and many in our network are seeing an increased interest in Asian buyers looking to purchase in the United States as well. At the Sotheby’s International Realty® brand we have made expansion in the Asia Pacific market a priority and have increased our sales and support staff in that area to accommodate future growth.

As well, our network is seeing the sale of many significant properties, proving that markets around the world continue to remain robust.

For those ski lovers looking forward to snowfall, we just launched a new Ski specialty market site at www.skipropertySIR.com. It joins our other specialty market sites: Farm & Ranch and Waterfront, with Golf coming soon.

As we prepare for 2013, we look forward to entering new, far-reaching markets and continuing to help unite buyers and sellers, opening the door for those looking to find their dream home. Enjoy this issue of Perspectives!

Sincerely,

Philip White President and Chief Operating Officer Sotheby’s International Realty Affiliates LLC

“As we prepare for 2013, we look forward to entering new, far-reaching markets and continuing to help unite buyers and sellers…”

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2SothebysRealty.com 1Masthead art: Home Sweet Home by Diana Ong © MMXII Sotheby’s International Realty® Affiliates LLC. All Rights Reserved. Home Sweet Home, used with permission.

ONE Sotheby’s International Realty in Miami, Florida, recently partici-pated in two record sales! Inga Boutboul co-brokered the highest residen-tial sale to date in Miami Dade County: 3 Indian Creek in Miami Beach for $47 million in cash. This marks the second significant record-break-ing sale the firm was involved in this year, the first being Jorge Uribe’s sale of a more than 17,000 square foot Indian Creek home for $39.4 million. Jorge represented both the buyer and seller. “Together, these two estates are the highest selling properties on record in the county, which indicates a strong recovery in the luxury sector fueled by international buyers,” said owner Mayi de la Vega. “The luxury real estate market continues to flourish and we can only expect prices to continue to rise. This sets the bar for elite properties in South Florida.”

Sotheby’s International Realty-Beverly Hills Brokerage in Califor-nia recently sold a contemporary tennis court estate for $9.995 million. The home is on nearly one flat acre in a prime Beverly Hills location north of Sunset Boulevard. With 20-foot high pitched ceil-ings, striking zinc fireplace and split level gallery ideal for fine art, the home also features a cook’s kitchen with a large breakfast area and 1,500 bottle wine room.

V i e w s cont inued n o t a b l e s a l e s

cape toWn, soUtH africa - “Cape Town, like many urban cen-tres in South Africa, is beginning to recover. Interest rates in South Africa are temptingly low and there is significant pent up demand in Cape Town as a result of limited development in recent years and the banks reticence to lend during the period of financial instabil-ity. There has been a notable decrease in foreign buyers, particularly those from Europe, active in the market. This exodus has however been seen as an opportunity by local investors who appear buoyed by not having to compete with international currency for properties. A significant number of sales in the mid to upper end of the market are being attributed to what’s become known as ‘semi-gration,’ South Africans relocating to Cape Town from other cities in the country because of the its inherent ‘holiday lifestyle’ appeal. Owing to its premier sea front location and the fact that supply is constrained, Cape Town’s Atlantic Seaboard has proven to be recession proof in much the same way that prime properties in London and New York are, and we have seen an increase in both demand and sale prices achieved, bucking the trend in the rest of the market.”

Brendan Miller, principle of Lew Geffen Sotheby’s International Realty on the Atlantic Seaboard

Hong kong - Due to recent concerns about a property mar-ket bubble, the Hong Kong government came out with new policies to curb property prices at the end of October. “With the new policies, both local and overseas investors are now more hesitant to buy at the moment and therefore sales transaction volumes have reduced significantly,” said Samson Law, managing director of Hong Kong Sotheby’s International Realty. “But in this island econ-omy, supply and demand continues to set the tone for the market in Hong Kong. There should be no reason for the market to correct dras-tically given the limited supply and low interest rates environment.” In recent months, Hong Kong Sotheby’s International Realty has successfully recorded four notable sales including apartment, condo and detached houses, one of which transacted at more than $17 million (USD) and another for more than $9 million. “With our aim and focus to become the leading marketer repre-senting the most exceptional properties in Hong Kong, we are very optimistic in the growth of the company for 2013,” said Law. ■

Lew Geffen Sotheby’s International Realty • property ID: 4000035630 • Price Upon Request

Hong kong sotheby’s international realty recently sold this palatial residence in new Territories, Hong Kong, for more than $9 million (USD)

sotheby’s international realty-Beverly Hills Brokerage in california sold this contemporary tennis court estate for $9.995 million

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London Sotheby’s International Realty has listed this home in Mayfair for $14.4 million (USD) property ID 4000031828Paris Ouest Sotheby’s International Realty recently sold a €16 million, French old style townhouse

Frank Sylvaire and Paulo Fernandes, owners and partners of Paris Ouest Sotheby’s International Realty, sold a €16 million, French old style townhouse with six bedrooms and 775 square meters in Paris. Built in the beginning of the 20th century and sitting on 1000 square meters in the prestigious Saint James area, the home’s wrought-iron gates open onto a magnificent paved drive borde¬red by luxurious flower beds in front.

Svetlana Shcholokova of London Sotheby’s International Realty has listed a Georgian house in Mayfair, London, for $14.4 mil-lion (USD) that once was home to British Prime Minister Anthony Eden and the Duke of Devonshire. The property retains many original features while at the same time offering a modern living. For more information, click here.

Susan Ravenscroft and David Harrington of Kurfiss Sotheby’s International Realty in Pennsylvania have listed Casa Pacifica, in Newtown, Pa., for $4.95 million. The home is located between Philadelphia’s Main Line and Radnor Hunt and has an indoor pool pavilion inspired by the pool at the Ritz in Paris. For more infor-mation, click here.

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Andrea Dougherty of Pacific Sotheby’s International Realty in Cali-fornia is representing a stunning home in Rancho Santa Fe, Calif., with vintage doors imported from a church in Mexico that frame iron gates forged by master iron workers. The roof and floor tiles are reclaimed and imported from Italy. Countless artfully carved wood doors, arched hall-ways, distressed beams and barrel ceilings, hand-troweled plaster, grand hallways and gorgeous mullioned windows just hint at the extent of the meticulous attention to detail in this legendary project.

Listed for $12.975 million, it has approximately 13,000 square feet of living space and also features a home theater, tennis court, 1,300 square-foot detached villa with kitchen, living room, fireplace and two bedrooms, each with its own bath, an 1,100 square-foot pool house/gymnasium with sauna/steam room and game room as well as a separate 900 square-foot guest. For more details, click here.

The villa enjoys spectacular views over its own garden with swimming pool and the surrounding mountains.

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swimming pool and the surrounding mountains. The villa was com-pleted in 2011 and has seven bedrooms with eight bathrooms, seven en suite. The villa is tiled in marble, except for the bedrooms, and has a Turkish bath and sauna and a preinstall area for a spa and gymnasium. Click here for more information.

Kristina Szekely Sotheby’s International Realty in Spain has listed this newly built villa for $19.646 million (USD)property ID: 4000030820

Kristina Szekely Sotheby's International Realty in Spain has listed a newly built villa located in Benahavis in the magnificent estate of La Zagaleta, with its two private golf courses, heliport, fishing lakes and 24-hour security. The villa is available for $19.646 mil-lion (USD) and enjoys spectacular views over its own garden with

Pacific Sotheby’s International Realty in California is representing this stunning home for $12.975 millionproperty ID: 4432474

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© 2012 Sotheby’s International Realty Affiliates LLC. All Rights Reserved. Sotheby’s International Realty Affiliates LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Office is Independently Owned and Operated. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks licensed to Sotheby’s International Realty Affiliates LLC.

ski

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Huntsman EstatE, Park City, utaH, usasUmmit sotHeBy’s international realty

$44 million (USD) Tucked away among tall pines and nestled on a mountainside made up of 60 acres is one of the most unique private estates in all of Utah. This crown jewel of Upper Deer Valley is 22,000 square feet and the residence is constructed of reclaimed logs from the Yellowstone Park area. Click here for more information.

To browse the Sotheby’s International Realty® brand’s broad array of Ski properties, visit the Ski specialty market website by clicking here.

property ID: 4389640

CastEl marina ii CHalEt, VErbiEr, switzErlandDe rHam sotHeBy’s international realty

$15.6 million (USD) This new, 10.5-room chalet has one of the most beautiful locations in the resort. The south-facing property provides panoramic views of the surrounding mountains. Castel Marina II Chalet also has a wellness area, sauna, home cinema and a professional standard wine cellar. Click here for more information.

property ID: 4000032288

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6SothebysRealty.com 1Masthead art: Home Sweet Home by Diana Ong © MMXII Sotheby’s International Realty® Affiliates LLC. All Rights Reserved. Home Sweet Home, used with permission.

© 2012 Sotheby’s International Realty Affiliates LLC. All Rights Reserved. Sotheby’s International Realty Affiliates LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Office is Independently Owned and Operated. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks licensed to Sotheby’s International Realty Affiliates LLC.

golf

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Fox run GolF Club, EurEka, missouri, usaDielmann sotHeBy’s international realty

$15 million (USD)Fox Run Golf Club, a world-class golf club just outside St. Louis, was conceived of in the early 1990s. The owner, an avid golfer and conservationist, created one of the most challenging golf courses in the country. The course itself is considered among the most difficult and interesting by the USGA. Click here for more information.

To browse more extraordinary Golf properties, click here.

property ID: 4409714

152 bEar’s Club driVE, JuPitEr, Florida (usa) tHe Bear’s clUB sotHeBy’s international islanDs

$8 million (USD)This 2.5-acre estate homesite is in the heart of The Bear’s Club. This exclusive site is extremely secluded with a private drive and is located in the middle of this ultra exclusive community and surrounded by The Bear’s Club Signature Jack Nicklaus Golf Course, offering lake and golf course views. Click here for more information.

property ID: 4151117

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7SothebysRealty.com 1Masthead art: Home Sweet Home by Diana Ong © MMXII Sotheby’s International Realty® Affiliates LLC. All Rights Reserved. Home Sweet Home, used with permission.

© 2012 Sotheby’s International Realty Affiliates LLC. All Rights Reserved. Sotheby’s International Realty Affiliates LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Office is Independently Owned and Operated. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks licensed to Sotheby’s International Realty Affiliates LLC.

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120 East End aVEnuE, 7a, nEw york, nEw york (usa) sotHeBy’s international realty - east siDe manHattan Brokerage

$11.95 million (USD)The epitome of elegance and timeless style, this grand six-bedroom home was designed by the legend-ary Jed Johnson, with Alan Wanzenberg and the renowned Thad Hayes. Enormous windows afford outstanding southern and eastern light, with sweeping river and sky views over the park. Developed by Vincent Astor in 1931, 120 East End is one of the city’s finest prewar coops. Click here for more information.

Visit sothebysrealty.com to search for additional unique historic properties available throughout the world.

property ID: 0136407

san FranCisCo, CaliFornia (usa) sotHeBy’s international realty - san francisco Brokerage

$14.9 million (USD) Fanny Osborn-Stevenson, the widow of author Robert Louis Stevenson, commissioned the renowned architect Willis Polk to design this beautiful home in 1900. As a tribute to the author, Polk designed a richly colored stain glass window, which still sets today, in the elegant main stair-case of the home. The property has been meticulously renovated and has views of the Bay, Alca-traz and Treasure Island, as well as the downtown cityscape. Click here for more information.

property ID: 0085689