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Luxuryestate Zurich: Residential real estate market – Prices flatline on a high after period of growth

Luxury real estate Zurich: Residential real estate market – Prices flatline on a high after period of growth

  • Price highs of 35,000 Swiss francs (approx. 35,000 euros) per square metre
  • Sustained upward trend for modern urban apartments and historic mansions

Hamburg / Zurich, 18 January 2022. Zurich is among the cities in the world offering the highest quality of life. As one of the leading financial and economic centres in Europe, the city attracts many private buyers and institutional investors. With its population now having reached 440,000, more people are currently live in Zurich than ever before. “In Q3 2022, residential property prices in Zurich only rose slightly (+0.6%) over the same quarter last year. In view of the continuing demand from national and international buyers, along with the extremely limited supply of properties in prime locations, we expect prices to flatline on a high in 2023,” says Axel Kühn, Licence Partner at Engel & Völkers Zurich Paradeplatz & Oerlikon. The average price per square metre for apartments in the luxury segment is currently between 22,000 and 35,000 Swiss francs (approx. 22,000 to 35,000 euros). The average sales price for mansions and detached properties with living interiors of some 300 square metres is 9 million Swiss francs (approx. 9 million euros). The steady growth in the population will continue to drive this excess demand – meaning that, despite the current economic outlook and rising interest rates, prices can be expected to remain stable in the city centre, in prime locations, and the surrounding regions. The high quality of life, the diverse array of cultural offerings and educational institutions, and the proximity to the mountains make Zurich an attractive primary residence. Alongside traditional banks and insurance firms, many tech companies and start-ups have recently relocated their headquarters to Zurich. This trend alone will mean that the appeal of the city as a place to live and work will continue to increase.

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Appealing location factors and a high standard of living attract international buyers

Around 120,000 companies are based in Zurich, forming a dynamic network of major international corporations, innovative medium-sized companies and highly specialised small businesses. “The burgeoning start-up scene gives a further boost to its status as a business hub, which in turn is prompting lots of young talent and a highly qualified workforce from all over the world to settle here and, after initial rental experiences, act on their long-term purchase plans,” says Lars Keller, Licence Partner of Engel & Völkers Zurich & Zurichberg. While domestic clients account for around 75 percent of the real estate market, 25 percent of all property transactions in Zurich can now be attributed to foreign buyers living in Switzerland – and this figure is on the rise. The majority of prospective buyers come from Germany, the Benelux Union, the UK, France, Italy, Eastern Europe and Scandinavia.

Top prices for residential property in hillside locations on Lake Zurich

Among the most exclusive locations are Fluntern and Hottingen at the foot of the Zurichberg. These two residential neighbourhoods are east of the historic city centre and combine the benefits of suburban living with the luxury of expansive natural surroundings. The many opportunities for jogging and mountain biking make this location particularly popular with clients who enjoy a sporty, active lifestyle. Historic estates on large plots with magnificent gardens and unobstructed views of Lake Zurich and the Alps are in high demand here. In 2022, just a small number of properties of this calibre changed hands for tens of millions. Top prices per square metre in excess of 33,000 Swiss francs (approx. 33,000 euros) were fetched for high-end apartments.

The Enge neighbourhood is situated southwest of the city centre. Residential properties here are set over a hillside dotted with large parks filled with mature trees. This area is especially popular with young families due to it being within walking distance to Zurich’s business centre and lakeside bathing spots. In 2022, townhouses sold here for up to 10 million Swiss francs (approx. 10.1 million euros). The top price per square metre for loft apartments was as much as 24,500 Swiss francs (approx. 24,500 euros).

Höngg is located above the Limmat River on the slopes of the “Käferberg”. Thanks to its south-facing location overlooking the city centre, Lake Zurich and the Limmat Valley, this neighbourhood is highly sought-after by families and commuters. Residents here also value the proximity to the local recreation areas of Waidberg / Käferberg, as well as the convenient transport links to the city centre and Zurich Airport, which can be reached in just 15 minutes by car. In 2022, mansions in Höngg sold for an average of 4 to 5 million Swiss francs (approx. 4 to 5 million euros).

Zurich West is the former industrial quarter and one of the city’s up-and-coming districts. This trendy district has a captivating alternative flair and makes for an architectural contrast to the picturesque Old Town. A host of different cafés, vibrant craft shops and second-hand boutiques add to the charm of Zurich West. This area of the city is particularly popular with students and young entrepreneurs. Top prices per square metre for freehold apartments here in 2022 reached 23,500 Swiss francs (approx. 23,500 euros).

luxury real estate Outlook: Thriving economic area to safeguard high prices

New construction projects such as “Europaallee” directly next-door to Zurich’s main railway station, the “Käferholz” residential complex with over 200 premium freehold apartments and “Hamberger Park” with luxury apartments are all playing their part in the ongoing structural evolution of the city, and  attracting renowned corporations such as Google. Zurich is becoming increasingly cosmopolitan with the accompanying influx of expats, without losing any of its historical heritage as a centre of culture. The sustained price rises in recent years prove that Switzerland’s regional real estate market is witnessing stable growth. For 2023, prices are expected to level out on a high. “Thanks to their stable value, residential properties in and around Zurich are a sound and future-proof investment,” says Kerstin Kühn, Licence Partner of Engel & Völkers Zurich Paradeplatz & Oerlikon, who goes on to make a recommendation: “Focus on properties in well-developed communities in suburban or rural areas that offer space to set up a home office, or, alternatively, focus on micro-apartments in the city centre.”

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Classic mansion in Wollishofen

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Located in the heart of Zurich’s Wollishofen neighbourhood, Engel & Völkers currently has this historic mansion dating from 1895 listed for sale (price on request). The property is set on a plot spanning some 2,000 square metres, with a total of 15 rooms spread over three floors. The mansion is impressive for its refined details that include original parquet flooring, restored stucco ceilings and specially made silk wallpaper. (Image source: Engel & Völkers Zurich Paradeplatz)

Exclusive freehold apartment on the Sonnenberg

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Situated on the “Sonnenberg”, this exclusive apartment is on sale for 4.3 million Swiss francs (approx. 4.4 million euros). The 2.5-room apartment is located in a building with five residential units in total. It affords state-of-the-art comforts throughout its interiors, which span 113 square metres. The property also boasts a large covered terrace and, thanks to its southwest orientation, it is ideal for owners looking to enjoy a panoramic view over the city and the surrounding vineyards. (Image source: Engel & Völkers Zurich Zurichberg)

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Luxury timepiece – Roger Dubui Excalibur Blacklight Monobalancier “An era of Light Colour Begins”

Reloj de lujo – Roger Dubui Excalibur Blacklight Monobalancier “An era of Light Color Begins”

Hiperluminiscente. Hiper-colorido. Superrendimiento: comienza una nueva era de estética deslumbrante con la llegada de la próxima generación de Excalibur Blacklight Monobalancier (MB). Una de las expresiones más brillantes de la Maison hasta la fecha, el reloj es una obra de arte contemporánea que es tan vibrante durante el día como bajo la luz ultravioleta. Bienvenido al deslumbrante mundo de Roger Dubuis, donde los campos de posibilidades se reinventan para ofrecer la forma más emocionante de experimentar Hyper HorologyTM.

EL ARTE DE LA LUMINESCENCIA

Siempre superando los límites, los relojeros altamente calificados de la Maison han estado desarrollando y dominando el intrincado arte de la luminiscencia durante años. Porque en Roger Dubuis, menos nunca es más.

Reflejando un nivel inigualable de artesanía, los micro-haces de metal del calibre son tridimensionales por primera vez, tomando la forma de la estrella característica de Roger Dubuis. De color amarillo brillante y naranja durante el día, revelan su luminiscencia oculta y brillan como neón bajo la luz ultravioleta.

Pero el dominio de la luminiscencia por parte de los relojeros va más allá. Manteniendo el punto culminante en el brillo de los micro-rayos, se eligió un diamante hiperprecioso y vívidamente fluorescente para el corazón de la estrella de la firma, canalizando el ojo para admirar el trabajo abierto de la pieza bajo la luz ultravioleta. Para garantizar que el centro de atención permanezca en los microhaces, también se seleccionaron específicamente 60 diamantes no fluorescentes para adornar el bisel. Motivados por una pasión extrema, el look final demuestra su control absoluto sobre dónde aparece la fluorescencia.

LLENO DE COLOR

La Maison presenta una colección cápsula icónica que brilla con colores de moda.

Encarnando un compromiso con la inconformidad y la voluntad de explorar nuevas posibilidades creativas, Roger Dubuis se inspiró para ir más allá de su obsesión por la luz e inyectar colores divertidos en esta próxima generación de Excalibur Blacklight MB.

Entre esta colección cápsula se encuentra un reloj vestido de amarillo brillante realzado con toques de naranja vibrante. Estos aportan un equilibrio armonioso al diseño, rompiendo el efecto de un solo tono y creando un camaieu. Estos tonos vivos también crean su estética distintiva, dejando que los detalles del calibre expresivo se revelen capa por capa, como una intrincada obra de arte que se aprecia cuanto más se mira. Atrevido, atrevido, icónico: este reloj de oro blanco de 42 mm realmente deslumbra, desde su correa de caucho amarillo brillante y piel de becerro hasta sus microrayos, marcadores de hora y minutos y su estrella característica. Si lo desean, los afortunados propietarios pueden incluso optar por cambiar la correa con solo unos pocos clics para expresar un nuevo estilo de su elección, ya que está equipada con un sistema de liberación rápida e hiperversátil. Hipercontemporáneo e hiperemocionante, la última edición del Excalibur Blacklight MB lleva a Hyper HorologyTM a nuevos y brillantes niveles de expresividad.

RENDIMIENTO IMPRESIONANTE

Definiendo el delicado equilibrio entre estética y rendimiento, el reloj está equipado con el calibre RD720SQ, que tiene una mayor reserva de marcha de 72 horas. El micro-rotor y el volante también están optimizados para minimizar las vibraciones, mejorar la estabilidad y hacerlo menos sensible a los golpes. Para lograr una eficiencia y transmisión de energía aún mejores, se mejora la forma de la rueda de escape, se combina con paletas de piedra de silicio recubiertas de diamante y se completa con un nuevo lubricante. La obra maestra está acabada a mano con meticuloso cuidado y recompensada con el Poinçon de Genève, una de las certificaciones más exigentes de la alta relojería.

Limitado a 28 piezas, el Excalibur Blacklight MB es la combinación perfecta de color, luminiscencia y mecánica avanzada, alcanzando nuevos niveles de expresividad. Al compartir su pasión por la luz y la luminiscencia, Roger Dubuis destaca una nueva faceta de Hyper Horology™, una que continúa dando forma al futuro de la alta relojería de la manera más colorida posible.

Hyper e Hyper Horology son marcas comerciales de Roger Dubuis presentadas y/o registradas en la clase 14

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2022 deliveries: Porsche posts a slight increase
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2022 deliveries: Porsche posts a slight increase

2022 deliveries: Porsche posts a slight increase

Porsche put in a robust performance in fiscal year 2022, with a slight increase in deliveries. The sports car manufacturer delivered a total of 309,884 cars over the past 12 months, 3 per cent more than in 2021 – despite several global crises.

Porsche fulfills the dreams of its customers, as strong delivery figures and the continued good order situation for fiscal year 2022 demonstrate. Worldwide, the sports car manufacturer delivered 309,884 vehicles to customers last year, an increase of 3 per cent over the previous year.

Detlev von Platen, Executive Board Member for Sales and Marketing at Porsche AG

“The many challenges caused by the war in Ukraine, interrupted supply chains and the ongoing semiconductor crisis have shaped the past year and put us to the test,” says Detlev von Platen, Executive Board Member for Sales and Marketing at Porsche AG. “So I am all the prouder of the entire Porsche team. In this difficult environment, we have succeeded in fulfilling the dream of owning a Porsche for more customers than ever before.”

Deliveries in Europe 7 per cent above previous year

In the Europe sales region, Porsche delivered 62,685 cars in 2022. This is 7 per cent more than in the previous year. In its home market of Germany, 29,512 customers took delivery of their cars – an increase of 3 per cent. In North America, Porsche recorded 79,260 deliveries, matching the previous year’s level. This was a particularly strong performance in view of logistical and supply challenges that started the year. In what remains the biggest single market, China, 93,286 cars were delivered to customers     (-2 per cent). The slight dip here is mainly due to the effects of the COVID pandemic. Waves of infection, COVID-related lockdowns and logistical challenges affected the deliveries. The Overseas and Emerging Markets sales region continues to develop positively with an increase in deliveries of 13 per cent. Some 45,141 cars were delivered to customers in this region during 2022.

SUVs remain popular among customers

The models with the highest demand again in 2022 were the brand’s SUVs: the Porsche Cayenne was delivered a total of 95,604 times. The Macan followed in second place with 86,724 units delivered. With 40,410 deliveries (+5 per cent) the Porsche 911 remains very popular as well. The sports saloon Panamera was delivered to 34,142 customers (+13 per cent).

The Taycan remains at a high level of orders. In 2022, Porsche delivered 34,801 cars from the model line worldwide (-16 percent). The decline was due to supply chain bottlenecks and limited component availability. Both issues affected the electric sports car in particular. Customers took delivery of 18,203 units of the 718 Boxster and 718 Cayman models.


Taycan GTS and Taycan GTS Sport Turismo

“On the sales side, results have been positive in 2022,” says von Platen. “Porsche is in a solid position. And we’re building on that basis.”

Porsche AG
Deliveries		 January – December
2021 2022 Difference
Worldwide 301,915 309,884 +3%
Germany 28,565 29,512 +3%
North America 79,166 79,260  0%
China 95,671 93,286 -2%
Europe (excluding Germany) 58,576 62,685 +7%
Overseas and Emerging Markets 39,937 45,141 +13%

Disclaimer

This announcement contains ‘forward-looking statements’ that reflect the Porsche’s current view of the future events.

Words such as ‘will’, ‘presume’, ‘as a goal’, ‘could’, ‘possibly’, ‘should’, ‘believe’, ‘intend’, ‘plan’, ‘in preparation’, and ‘aim’ are used to indicate statements relating to the future. These statements are subject to a variety of risks, uncertainties and assumptions. If any of these risks or uncertainties materialise or if the assumptions underlying Porsche’s forward-looking statements should prove unfounded, the actual results could differ significantly from the ones that Porsche has expressly or implicitly assumed in these statements. Forward-looking statements in this press release are based solely on the circumstances pertaining on the day of publication.

These forward-looking statements will not be updated later. These statements are true on the day of publication and may be overtaken by later events.

www.porsche.com
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The #FR2NCK MULLER Vanguard bridges Swiss luxury watchmaking and Japanese street fashion

Just in time to herald the impending Year of the Rabbit, Franck Muller and Tokyo-based streetwear label #FR2 have jointly unveiled the #FR2NCK MULLER Vanguard. This marks the first collaboration between the two brands, and sees Franck Muller adopting the distinctive design language of #FR2 on its trademark Vanguard watch. The result is an edgy, fashion-forward timepiece with a dial anchored by #FR2’s iconoclastic rabbit motif, sitting a mid the signature numerals and tonneau case of Franck Muller.

The #FR2NCK MULLER Vanguard bridges Swiss luxury watchmaking and Japanese street fashion by melding the elements from each universe, complete with its creators’ signature touches. This is immediately apparent on the dial, where Franck Muller’s timeless yet avant-garde aesthetic has taken on street style sensibilities. A matte white dial base starts things off by establishing a high key aesthetic, upon which black hands, markings, and appliqué indices lie.

The high contrast, monochromatic look comes complete with a delightful quirk at seven o’clock. Here, Franck Muller has situated #FR2’s provocative Fxxking Rabbits motif in lieu of hour markers, with one rabbit’s red eye providing the sole spot of colour on the dial. In the dark, the #FR2NCKMULLER Vanguard also offers an idiosyncratic twist. Super-Luminova has been selectively applied such that the skeletonised obelisk hands, indices and graphical motif leap out from the dial in the absence of light.

The stark, bold design extends to the rest of the watch. This includes Franck Muller’s tonneau-shaped Vanguard case, which has been rendered in a new carbon and glass fibre composite – a first for the brand, and one that will be reserved for Southeast Asia – exclusive models only. To create the light yet strong material, carbon powder and glass fibres are combined, before the resulting mass is impregnated with a bonding resin. The mixture is then baked at 150 degrees Celsius for three hours under 200 tons of pressure, to finally yield a composite that can then be machined into the necessary components. Due to random variations in how the mix are compressed, every watch case will offer a unique pattern of striations. The final touch here is the white nylon strap, which has been emblazoned with black text in a typographic style that will be familiar to street fashion aficionados.

Franck Muller’s work with #FR2 is a rare example of the Swiss watchmaker’s collaboration with external brands, which has been limited to a small, select group of partners. “#FR2’s founder Ryo Ishikawa isn’t just an iconic figure in Tokyo’s streetwear scene,” shares Sharon Lim, CEO of Franck Muller SEA. “As the creative force behind Fxxking Rabbits, he has adopted a muti-disciplinary approach to his label’s creations while maintaining a fiercely independent spirit. These are values that we believe in and identify with at Franck Muller, which makes this Southeast Asia Exclusive a natural collaboration. Of course, the product that we have come up with speaks to that.”

The #FR2NCK MULLER Vanguard is a limited edition of 800 pieces, and is available across Southeast Asia and Australia since 6 January 2023.

About #FR2

#FR2, also known as Fxxking Rabbits, is the brain child of Ryo Ishikawa, an elder statesman in the world of Japanese street fashion who’s perhaps best known for founding fashion imprint Vanquish. Following its establishment in 2014, #FR2 quickly attracted a following with its signature rabbit and “Smoking Kills” motifs, as well as its products’ bold photographic prints. Along the way, Ishikawahas also set the brand apart with provocative campaign images – which he personally lensed – and tongue-in-cheek approach to fashion. From hoodies and candy-dispensing disposable cameras, the brand offers an eclectic range of apparel and objet d’art that’s arguably the most intimately Ishikawa’s yet.

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Engel & Völkers Artá | Mallorca: Year-round demand ensures stable price development

Mallorca: Year-round demand ensures stable price development

  • Buying motives of real estate clients in centre and northeast of the island focus on renewed closeness to nature and sustainability
  • Properties with top building standards offer potential for appreciation in value

Hamburg, 01 November 2022. Mallorca is the top dream destination for many German-speaking property buyers. The Balearic island is set to remain highly sought-after as an investment location in 2023. “Clients with long-term investment plans can enjoy the benefits of secluded living here, as well as the excellent infrastructure and year-round access to exclusive recreational and cultural activities, plus the broad choice offered by 17 international schools,” says Florian Hofer, Managing Director of Engel & Völkers in the Balearics. The focus of prospective property buyers has recently shifted, away from tourist hotspots, to the mountain villages steeped in history in the centre of the island and in the northeast. Client interest is increasingly focused on traditional finca estates and renovated townhouses, as well as contemporary new builds that meet the higher demands in terms of sustainability and eco standards. The limited availability of property listings and the consistent demand mean that prices are expected to stabilise at a high level moving forward.

Centre of the island: Short times to market for authentic country houses and upmarket rural estates

Inland in Mallorca’s central region, many historic mountain villages can be found nestled in glorious countryside dotted with almond and olive groves, and wine-growing estates. Traditional villages such as Alaró, Binissalem and Santa María are extremely desirable among buyers. With their beloved weekly markets, they are a magnet for local artisans, winegrowers and farmers alike. “Those looking to acquire real estate appreciate the proximity to the capital Palma, as well as the high degree of privacy offered by the substantial plots of land, where a return to nature and a more unspoilt, authentic Majorcan lifestyle can be experienced,” says Christina Deutsch, Managing Partner of Engel & Völkers Mallorca Centre & South. She is observing the following trend: “Real estate clients are looking increasingly at opportunities to own a sustainable home, and are drawn by the option of self-sufficiency, such as from growing olives or grapes in their own garden.” Demand is especially high for traditional country houses with expansive gardens and pools, as well as for authentic finca estates clad with a typical Majorcan stone façade. Such properties in prime locations in Santa María currently have average asking prices of 3 million euros. In the municipalities of Alaró and Bunyola, prices are between 2 and 3 million euros. Neighbouring towns like Binissalem and Consell command prices ranging from 1.5 to 2 million euros. The majority of buyers at the centre of Mallorca are from German-speaking countries. Recently, increasing numbers of prospective buyers from Spain, France, Belgium and the USA have been observed.

Northeast: High demand for retreats in nature and eco-efficient new properties

The northeast of Mallorca is blessed with unspoiled nature and breathtaking coastlines. Canyamel, Costa de los Pinos and Artà are among the most sought-after regions, where the Mediterranean flair of the Balearic island can be experienced in full, far removed from the heavily frequented tourist hotspots. Exclusive finca estates and villas with expansive outdoor areas, gardens and terraces with sea views are among the most desirable properties for sale in the north of the island. In prime locations around Artà and Colònia de St. Pere, the average asking prices for such homes are 1.9 million euros. In the coastal resorts between Cala Mesquida and Canyamel, and in the municipality of Manacor, prices range between 1.5 and 1.8 million euros. “Many buyers are opting to acquire a holiday property in their favourite destination and extend their stays on the island to combine holidays with remote working,” says Rainer Fischer, Managing Partner of Engel & Völkers Mallorca Northeast, adding: “The incredible restaurant scene and wealth of opportunities to pursue outdoor activities like golfing, sailing, hiking, or tennis at the Rafael Nadal Tennis Academy, give the region yet another boost in appeal.” The majority of search clients in the northeast are from German-speaking countries. There has recently been an increase in demand from people in the Netherlands looking for a new home on the island.

Outlook: Real estate as a long-term investment

“Residential properties at the centre of the island and in the northeast are particularly attractive for their moderate prices and potential for future appreciation in value. They serve as a long-term capital investment, offering a steadfast form of protection from inflation compared to other investment alternatives,” Florian Hofer says in summary. In view of Mallorca’s ongoing evolution into a destination for top-end tourism and the Balearic government’s constant investment in the development of the island’s infrastructure, the experts at Engel & Völkers are confident that the market will continue to see positive growth. 

 

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Refurbished 17th century estate with modern standards
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This listed country house was built in 1604 between Alaró and Santa María. Its interiors span some 1,051 square metres in total, with six bedrooms and five bathrooms. Set in picturesque natural surroundings in the centre of Mallorca, the property extends over a plot of approximately two hectares. It is on the market for 6.85 million euros and features an outdoor pool and its own fountain, as well as an expansive terrace and garden grounds.
(Image source: Engel & Völkers Mallorca Central)

Eco-efficient country estate in Petra
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Just a short walk from the winegrowing town of Petra, this traditional Majorcan property is currently listed with Engel & Völkers for 2.9 million euros. It spans some 876 square metres in total, consisting of two fully appointed houses separated by an outdoor pool and sourced with solar power. The main house boasts a spacious living and dining room, a kitchen, and five bedrooms. While the second house has a tourist rental licence for up to twelve people, and features a living and dining room with kitchen, and six en suite bedrooms. (Image source: Engel & Völkers Mallorca Central)

Modern villa with sea views in Canyamel
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This newly built and ultra-modern villa is located on the sunny side of the coastal resort of Canyamel, close to Capdepera in the northeast of Majorca. It is on sale for 4.9 million euros. The three-level property spans 671 square metres in total, with four bedrooms, five bathrooms, a spacious living room, and a separate dining room with open plan kitchen, plus a home gym and home cinema. All the rooms and expansive terraces afford panoramic views out to the sea, taking in the spectacular coastal panorama of Canyamel. (Image source: Engel & Völkers Artá)

Charming finca estate in Costa de los Pinos
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Very close to the coastal resorts of Costa de los Pinos and Port Vert, Engel & Völkers is currently brokering this exceptional finca estate with an asking price of 4.5 million euros. The property features a pool and has a plot spanning 7,100 square metres, with an interior of 522 square metres in size, including six bedrooms and six bathrooms. Premium natural materials were used in the construction, including untreated marble tiling, antique ceiling beams and teak window frames.
(Image source: Engel & Völkers Artá)

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Cologne property market: Prices level out at a high

Cologne property market: Prices level out at a high

  • Average asking prices of 1 million euros in Lindenthal
  • Cologne most favourably priced city in “Top 7” national comparison
  • Energy-efficient new buildings in particularly high demand

Hamburg, 18 August 2022. With a population of more than one million, Cologne is one of the largest cities in Germany – after Berlin, Hamburg and Munich. The cathedral city on the River Rhine is one of the most sought-after residential locations in the Federal Republic, thanks to the high quality of life it offers, and its importance as a centre of business, research and education. “In spite of interest rate increases and inflation, the level of demand for property in the city and the surrounding region is constant,” says Christian Sprave, Managing Director of Engel & Völkers Cologne, adding: “Real estate remains a crisis-proof investment with high value retention. There is also a lack of attractive and reliable investment alternatives. Energy-efficient new buildings in Cologne’s city centre are in especially high demand at the moment.”

Freehold apartments: City centre is most expensive and desirable location

Average asking prices for existing freehold apartments rose to 5,153 euros per square metre in H1 2022, marking an 8 percent increase over the previous year (H1 2021: 4,771 euros per square metre). Comparatively speaking, Cologne remains the lowest-priced of Germany’s “Top 7” cities. With average asking prices of 6,817 euros per square metre, the city centre ranks among the most sought-after and expensive addresses for freehold apartments, followed by the districts of Rodenkirchen and Lindenthal with average asking prices of between 5,279 and 5,607 euros per square metre. Premium properties in very good locations can reach top prices of up to 20,000 euros per square metre.

The segment for newly constructed freehold apartments saw an even sharper price rise – to an average of 7,037 euros per square metre in the first half of 2022, marking an 11.4 percent increase over the previous year (H1 2021: 6,317 euros per square metre). “We’re seeing a strong demand for new builds that are particularly well insulated and energy-efficient. These have become more important criteria for buyers, in light of the upcoming winter and uncertainty surrounding the gas supply. However, increased construction costs, labour shortages and global supply chain problems have meant that there have been delays in the completion of many new buildings. The availability of such properties on the market is hardly increasing at all as a result, and prices are levelling out,” says Christian Sprave.

Detached and semi-detached properties: Moderate price rises in H1 2022

Prospective buyers are also focusing their attention on features such as insulation, a fireplace and a high energy classification in the segment of detached and semi-detached houses. In the first half of 2022, the average asking price for detached and semi-detached houses in Cologne was 710,000 euros. This represents an increase of more than 9 percent compared to the previous year. As in the segment for freehold apartments, the districts of Lindenthal and Rodenkirchen, along with the city centre, were also the most expensive districts for detached and semi-detached houses: Here, the average asking prices ranged between 785,000 and approx. 1 million euros. Particularly exclusive residences in very good locations are currently on sale for asking prices of 1.75 to 7.5 million euros. “We are currently noticing a somewhat greater reluctance to buy, but assume that things will naturally settle back down to normal in the medium term. Real estate serves as a safe investment particularly in times of crisis. Not only as a long-term financial asset, but as a place to retreat with emotional returns too,” says Christian Sprave.

As was the case for city locations, market activity in the immediate surrounding region also remained stable in the first six months of 2022, buoyed by an ongoing desire among people to move to the countryside. Nevertheless, prices in these surrounding areas still remain below that of Cologne’s city locations. The highest prices were in Rösrath in the Rheinisch-Bergisch district, with average asking prices of 679,000 euros, followed by Pulheim and Bergisch Gladbach at approx. 630,000 euros.

Outlook: Prices expected to flatline in all locations

The experts at Engel & Völkers are anticipating a flatlining of prices in all Cologne locations for the remainder of the year. The month of June saw a slight drop in asking prices for freehold apartments in Cologne for the first time in years, due to the rise in interest rates. There could therefore be further moderate price corrections, especially in simple and average locations. “Many people acquired homes at top interest rates a few years ago and now have to budget more for follow-up loans. That said, the current interest rate is still relatively low when compared historically, meaning that seriously interested buyers now have opportunities to acquire properties that were more difficult to obtain in recent years due to the sheer number of buyer offers being made,” says Christian Sprave, summing up: “The current market climate is a special one, and long-term forecasts are difficult. Professional advice is therefore highly recommended to both sellers and buyers; it is absolutely necessary to be able to assess the current situation correctly.”

Other trends relating to purchase power and property prices in German cities can be found (in German) in the “Engel & Völkers Market Report for Residential Property in Germany 2020/21”.

Sources: Asking prices: VALUE Marktdatenbank, Gutachterausschuss Köln

Charming old villa on park-like property in Rondorf

Built in 1920, this old villa in Cologne Rondorf impresses with its classic architecture and is for sale for 2.3 million euros. The former rectory extends over a plot of around 1,523 square meters and offers plenty of privacy and space to relax. The 321 square meters of living space with eight rooms reflects the representative residential character of the property. A special highlight is the spacious park-like garden. (Image source: Engel & Völkers Köln-Rodenkirchen)

Modern old-building apartment in the Belgian Quarter

This bright two-room apartment with its own terrace is located in a listed former backyard-building from 1900 and is marketed by Engel & Völkers for 520,000 euros. In 2013, the property was extensively renovated using high-quality materials. Thanks to solid wood parquet flooring, listed wooden windows and an open kitchen-living area, modern design and old building charm are cleverly combined. (Image source: Engel & Völkers Köln City)

copyright: Image source: Engel & Völkers Köln City

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Cadillac Reveals CELESTIQ Show Car

Cadillac Reveals CELESTIQ Show Car

An inspired vision of design, technology and bespoke craftsmanship previews flagship sedan

Today, Cadillac unveiled the CELESTIQ show car, a vision of innovation and purpose that previews the brand’s future handcrafted and all-electric flagship sedan.

Conceived to lead Cadillac’s electric future and inspired by the brand’s 120-year heritage, it serves as a touchstone for the Cadillac design and engineering teams, who continue to develop CELESTIQ as it moves closer to production.

“The CELESTIQ show car is the purest expression of Cadillac,” said Magalie Debellis, manager, Cadillac Advanced Design. “It brings to life the most integrated expressions of design and innovation in the brand’s history, coalescing in a defining statement of a true Cadillac flagship.”

In developing the show car, the design and engineering teams immersed themselves in the artisanship and customization that defined early Cadillac sedans such as the bespoke V-16 powered coaches of the prewar era, and the hand-built 1957 Eldorado Brougham. The CELESTIQ is the culmination of that heritage, brought to life with innovative production methods and new technologies.

“Those vehicles represented the pinnacle of luxury in their respective eras, and helped make Cadillac the standard of the world,” said Tony Roma, chief engineer. “The CELESTIQ show car — also a sedan, because the configuration offers the very best luxury experience — builds on that pedigree and captures the spirt of arrival they expressed.”

Designers drew further inspiration from classic architecture such as the mid-century masterpieces of architect Eero Saarinen, along with other iconic American designs, which made era-defining statements when introduced and endured with distinctive timelessness.

Realizing and infusing those influences within an Ultium-based EV architecture resulted in a clean-sheet expression for the CELESTIQ show car that considers the entirety of travel as a curated experience — one intended to evoke an emotional response.  The result is a vehicle that makes a magnetic first impression and cultivates a permanent personal connection.

“We’ve combined the beauty of function with the beauty of form,” said Laetitia Lopez, creative designer, Cadillac Color and Trim. “We had to reconsider all aspects to immerse the customer, all of their senses, and create a connection with the vehicle through the finest genuine materials, exceptional detailing and advanced technology.”

www.cadillac.com

The show car previews some of the materials, innovative technologies and hand-crafted attention to detail harnessed to express Cadillac’s vision for the future. Highlights include five high-definition, advanced LED interactive displays, including a 55-inch-diagonal advanced LED display, along with expected industry firsts such as a variable-transmission Smart Glass Roof and Ultra Cruise1, General Motors’ next evolution of available hands-free driver assistance technology which Cadillac plans to offer on CELESTIQ.

The Smart Glass Roof features Suspended Particle Device (SPD) technology that allows for four zones of variable lighting, enabling passengers to fine-tune their cabin experience for completely personalized comfort and visibility. Additionally, the 55-inch-diagonal advanced LED display introduces a passenger display with electronic digital blinds, an active privacy technology, which is designed to allow passengers to enjoy video content while blocking it from the view of the driver.

While they are previewed on the show car, these technologies and more will make CELESTIQ the most advanced vehicle ever from Cadillac. Availability for the production version of CELESTIQ will be announced at a later date.

GM is investing $81 million to support its assembly at GM’s Global Technical Center, the landmark campus originally designed by Eero Saarinen and the heart of the company’s engineering and design efforts. The CELESTIQ will be the first production vehicle built2 there since the center’s inauguration in May 1956.

Additional details on the CELESTIQ production model will be announced later this year.

Visit www.cadillac.com for more information.

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Roger Dubuis - Excalibur Spider Huracán Monobalancier
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Roger Dubuis – Excalibur Spider Huracán Monobalancier

Roger Dubuis – Excalibur Spider Huracán Monobalancier

Ready, set, go: Roger Dubuis roars across the starting line to reveal the Maison is now the official timing partner of the 2022 Goodwood Festival of Speed. The new collaboration is set to whip up pleasure-seeking visitors with a series of unforgettable thrills and emotions.

The hyper watchmaker already boasts two renowned partnerships within the motorsport’s universe, creating adrenaline-charged masterpieces with racing legend Lamborghini Squadra Corse and premium tyre expert Pirelli. Welcoming another partner to the fold with the Goodwood Festival of Speed is a natural next step. In honour of the new collaboration, Roger Dubuis is proud to unveil the Excalibur Spider Huracán Monobalancier (MB). Born to race, the new timepiece boasts an expressive blend of hyper materials and hyper mechanics.

THRILLING MECHANICS, RAGING PERFORMANCE

The new Excalibur Spider Huracán MB reflects the DNA of Lamborghini Squadra Corse combined with the horological excellence of the Maison. Powered by an automatic RD630 calibre, the 45-mm diameter Excalibur Spider Huracán channels the same exhilarating performance as its motoring namesake. Strong visual cues are inspired from the Huracán GT3 EVO2, including the honeycomb motif made famous by the supercar, with its hexagonal dashboard paralleled in the shape of the calibre. Built like an engine, the calibre’s twin barrels and 12° tilted balance wheel also represent the movement signature associated with Lamborghini Squadra Corse. When viewed from the back, the skeletonised movement reveals the 360° oscillating rim weight. This reproduces the like-for-like speed effect of a Huracán wheel rim, as well as emulating its design. Finally, a crown inspired by the supercar’s racing nuts is paired with an upper calibre strut-bar bridge design reminiscent of those found on the V10 engine itself. When visionary engineers meet incredible watchmakers, iconic timepieces are born.

HYPER-TECH MATERIALS MEET INSPIRING RACING CODES

Both Roger Dubuis and Lamborghini Squadra Corse compulsively seek out hyper-tech materials to fulfil their obsession with shaping the future. Just as Lamborghini Squadra Corse chooses carbon fibre for its racing cars, Roger Dubuis crafts the new Excalibur Spider Huracán MB case, bezel, and crown from pure white Mineral Composite Fibre (MCF). Exclusively developed in-house, this hyper-tech material illustrates the Maison’s technical mastery. The 100% integrated Manufacture found that engineering silica via a Sheet Molding Compound (SMC) process could produce a material 13% lighter than SMC carbon. Not only does this lightness make it extremely comfortable to wear on the wrist, it also enables the creation of intricate designs thanks to a sturdy structure. Always seeking out the most expressive aesthetics, the pure white MCF is further elevated with embellishments in striking green, intense red and electrifying yellow to honour the design of the Huracán GT3 EVO. The same shades are also found on the white rubber strap, which features green calf leather perforated with tiny holes to reveal the red beneath. Intricate stitching in red adds to the audacious look, while a Quick Release System ensures ultimate versatility. As exclusive as the Festival of Speed Driver’s Club, the Excalibur Spider Huracán MB is reserved for a select tribe only and therefore limited to 88 pieces.

Join us to discover the Maison’s latest roaring creation and explore iconic timepieces at the Roger Dubuis booth at Goodwood Festival of Speed from June 23rd to June 26th. Adrenaline-seekers beware: This is going to be an epic weekend.

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The new High Jewelry collection, Dior Print

The new High Jewelry collection, Dior Print

The Dior Print high jewelry collection was presented at an exceptional event on June 4 at the Grand Hotel Timeo in Taormina, Sicily. Its 137 pieces -by Victoire de Castellane- sublimely celebrate the art of haute couture through a poetic gala.

Giving a third dimension to the power of prints and patterns, these precious creations were revealed alongside haute couture silhouettes imagined by Maria Grazia Chiuri through a dreamlike double staging. During the cocktail, lively paintings inspired by antiquity highlighted the long white dresses that reinvent the peplum technique.

The dinner was followed by a magical parade in which trompe l’oeil velvet and embroideries that evoke lace and guipure animated daring models. The enchanting show was a true blend of Parisian chic with Italian dolce vita.

Having long wished to “draw prints on jewelry,” Victoire de Castellane brings the idea to life. Liberty prints, checks, stripes, and tie-dye are among the ultra-precious motifs in the Dior Print high jewelry collection, comprising 137 joyful, virtuoso pieces that seem to swirl like a haute couture gown. After exploring lace in Dior Dior Dior in 2018, textile dye effects in Tie & Dior in 2020, and braids in Galons Dior in January 2022, Victoire de Castellane opens a new chapter in the history of Dior high jewelry, whose collections always build on preceding storylines.

While Couture remains an endless source of inspiration for the House, it is with matchless audacity that the new Dior Print borrows its designs. The whimsical concept – transposing the motif of a two-dimensional fabric onto three-dimensional jewelry – gave rise to 35 “printed” parures adorned with checks and stripes, tie-dye color gradations, geometric motifs and Liberty prints that mesmerize while their extreme fluidity caresses the skin like a silky breeze.

Each print motif is conceived like fabric in miniature, with the couturier’s hand apparent in seemingly crisp-cut earrings, ribbon-like undulations forming chokers and plastrons, and floral embellishments transposed into rings and necklaces. Not to mention cushion-like volumes that are mastered to perfection on flamboyant drop earrings, pendants and sensual, voluminous cufflinks. The color associations in which Dior excels play an essential role in highlighting each piece’s motifs. The Dior Print collection stands out for the realism of its prints, which are literally transcended by the beauty of the stones used and the exceptional savoir-faire of the Parisian ateliers in which they are made.

In order for the motifs to translate to jewelry’s reduced scale, the jewelers adjusted both the types of setting and the density of gem placement. “When ribbons undulate, the print must follow,” Victoire de Castellane stipulated. To ensure that the checks and stripes perfectly match the movement and contours of each jewel, special attention was given to relief and perspective. “As with couture, it’s a process that requires a series of adjustments. The work is all the more precise due to the settings’ curved surfaces, which distort prints and lines,» notes the Creative Director of Dior Joaillerie. Showing extraordinary mastery, the 137 pieces in the Dior Print collection beckon French high jewelry down paths that are as dazzling as they are unexpected: for the masterpiece parure, Victoire de Castellane brings together floral prints and stripes. The necklace — an interlacing of multicolored ribbons in three colors of gold — is a technical feat. To create its articulated links, master jewelers borrowed a specialized savoir-faire from watchmaking, while the mashup of printed motifs brimming with multicolored gems is nothing less than spectacular. In the same spirit, Dior mixes flowers and stripes with bold gems on jewels emblematic for the originality of their style, such as a necklace in noble metal worked like fabric, a ravishing 11.92-carat Colombian emerald nestled in its folds.

DIOR PRINT In the family of check motifs, Dior reinterprets navy in sapphires and diamonds. From this classically masculine print, Victoire de Castellane coaxes out the essence of truly feminine chic, for example on a ribbon necklace adorned with an extraordinary 12.07-carat Madagascar sapphire, a double ring set with a nearly six-carat Ceylon sapphire, or drop earrings whose edges appear sliced clean, as if snipped with scissors. Elsewhere, stripes mingle with flowers whose petals are striated with pink, violet and blue sapphires, white diamonds, and mauve amethysts on rings, necklaces, earrings and an eye-catching secret watch. The color and quality of center stones appear enhanced, such as a 8.02-carat lilac sapphire from Madagascar on the pistil of the Dior Print Emerald necklace. Floral motifs, meanwhile, are magnified by a ruby, spinel and yellow diamond Liberty print embellishing white gold braiding as well as pendants and rings with cushion-cut gems. Among the jewels in this ensemble, Victoire de Castellane designed two ribbon necklaces that enlace the neck: one illuminates its wearer with a marvelous 10.05-carat cushion-cut D Flawless white diamond.

The other features a dazzling 3.04-carat Fancy Vivid yellow diamond. In a less figurative register, Dior Print celebrates abstract motifs that bring a new energy to classic high jewelry parures. In a “crazy tossing of stones,” the Creative Director of Dior Joaillerie turns a tangle of different-sized diamonds into a random, graphic – and highly beautiful – symphony of rings, cuffs and asymmetrical necklaces. Among the most spectacular are a 11.58-carat D Flawless pear diamond, a 14.66 carat Burmese sapphire, and a 10.27 carat ruby from Mozambique. Gems of character for a collection with an outsized personality. And for which the high jewelry workshops of Paris have

www.dior.com

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This is Ken Block’s Audi S1 Hoonitron
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This is Ken Block’s Audi S1 Hoonitron

This is Ken Block’s Audi S1 Hoonitron

It instantly brings back memories of the legendary Audi Sport quattro S1 with which the four rings used to charge to the summit in the famous Pikes Peak Hill Climb event, aka the “Race To The Clouds:” Audi is presenting the Audi S1 e-tron quattro Hoonitron that has been exclusively and uniquely developed for American drift artist Ken Block. The all-electric one-of-a-kind car will be the protagonist in a new video that Block is producing together with his team for release in the next few months.

This is Ken Block’s Audi S1 Hoonitron

This is Ken Block’s Audi S1 Hoonitron

“The S1 Hoonitron combines a lot of what Audi was already famous for in the nineteen-eighties,” says Ken Block, whose enthusiasm for Audi’s rally cars was sparked at an early age. “For instance, the car’s spectacular aerodynamics have now been translated into a totally modern form. I think it’s cool that the Audi designers have been inspired by their own past and uniquely transferred the car’s technologies and appearance into the present.” 

Two electric motors, all-wheel drive, power galore, a carbon fiber chassis, and the full safety standards as prescribed by motorsport’s top governing body, the FIA – these are merely the S1 Hoonitron’s statistics. In November, the driver got to know the car for the first time. “Audi gave me the opportunity to test it for a few days in Germany,” says Ken Block.

This is Ken Block’s Audi S1 Hoonitron

This is Ken Block’s Audi S1 Hoonitron

“I’m familiar with a wide variety of cars using internal combustion engines and transmissions, but there were a lot of new things for me to learn here. Spinning into a donut at 150 km/h directly from standstill – just using my right foot – is an all-new experience for me. Our work was focused on getting the car and I used to each other. My thanks go to the whole Audi Sport squad for their outstanding teamwork.”

This is Ken Block’s Audi S1 Hoonitron

This is Ken Block’s Audi S1 Hoonitron

The entire development, including the technology, of the S1 Hoonitron was conducted by Audi Sport at the Neckarsulm location – a perfect fit for the project, because that’s also where the Audi RS e-tron GT1 is produced. Audi Design in Ingolstadt was responsible for the styling, which has been anything but a run-of-the-mill job for Marc Lichte and his team. “When we first heard about this project, the whole team was thrilled immediately: we had the opportunity to develop a car that combines an icon of our brand with the future,” says Audi’s chief designer. The challenges were tremendous: “It was about creating a modern, all-electric interpretation of the S1 Pikes Peak. The timeline was extremely tight: while our design process normally takes one to one-and-a-half years, we only had four weeks from the first drawing to the final design. We were constantly in touch with Ken Block and his team and engaged in intensive exchanges.”

Fans will soon be able to see the US star’s success with the project for themselves: under the working title Elektrikhana, Ken Block and his team are going to produce the next video of his famous Gymkhana series featuring the S1 Hoonitron. “The collaboration with Audi is a very special partnership for me. The brand and its passion for motorsport motivated me to get into rallying,” says Ken Block. “That Audi has now developed this car for me and my team, and has joined us in our next project, has made a dream come true for me. The Hoonitron is writing the next chapter in our history and taking our Gymkhana story into the future.”

This is Ken Block’s Audi S1 Hoonitron

This is Ken Block’s Audi S1 Hoonitron

A story of the future that everyone at Audi is also looking forward to: “Knowing that we’re developing a car for a video with Ken Block that millions of people around the world are going to watch has provided our team with additional motivation,” says Marc Lichte. “These new inspirations are also immensely important for our daily work. The development of this car will encourage us to approach future projects with an even more open and progressive mindset.”

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