New York, London, Singapore. These are undoubtedly some of the trendiest venues the mega wealthy want to live in. According to the 2018 Wealth Report by Knight Frank, more and more affluent people choose to live in these megacities, sometimes moving from their own home cities, to enjoy a better lifestyle and have more business opportunities.
The trend shows that although North America is the favourite choice for the super-rich, with more than 34% of them living there, the rising trend of South East Asia, much to the detriment of Europe – with the notable exception of London and Paris, respectively 2nd and 7th on the top 10 most chosen venues. However, this is the trend for the locations where people live their everyday life: what about their summer holidays?
Locations, not cities
Unsurprisingly, the results of the super-rich’s summer destinations differ quite substantially from those of their first houses. In this case, countries like Italy, Spain, Portugal and France still exert considerable charm and influence in the minds of both High Net Worth Individuals and the Ultra High ones. However - and this is worth discussing - when it comes to second houses, rich people are not really interested in particular cities, but particular locations. This because while on holiday they are more interested in natural beauties, proximity to historical cities or the seaside, and above all quiet, rather than bustling city centres crowded with people. The trends clearly confirm it: the second home market in coastal areas around Western Algarve in Portugal and Portofino in Liguria are booming, with growth rates of 6.6% and 6.5% respectively.
Focusing on Italy, other very popular leisure destinations are Chianti, for its gorgeous landscapes, top quality food and wines and its historical towns and cities; Argentario, for its crystal clear sea and the wild beauty of its nature; and Lake Como, which the Huffington Post labelled as the most beautiful lake in the world for its peculiar mild weather, proximity to the Alps and the presence of beautiful historical villas.
However, above all still stands Sardinia, which despite its ups and downs firmly places itself as the most attractive destination for the super-rich.
Sardinia, Queen of Summer 2018
The island still attracts a large number of affluent second home buyers and hotel clients, thanks to its unique combination of pristine nature, crystal clear waters, tourist facilities of the highest quality and luxury services. A perfect example of such microcosm so much desired by affluent people is Santa Margherita di Pula, home of Forte Village.
Stretching along a white sand shore, in front of the unique sapphire blue waters of Southern Sardinia, lie 47 hectares of gardens, embroidered in a tapestry of tennis courts, villas, swimming pools and other lavish facilities. Surrounded by Mediterranean scrubs and lagoons with herds of pink flamingos, Forte Village offers a combination of top notch services to its clients, from football sessions with Chelsea FC trainers to fine dines cooked by Michelin-star chefs.
As a test to the quality of the Village, last year Russian industrialist Andrey Melnichenko docked his 425-million-euro yacht next to the shore of Forte Village and spent 2 weeks in a seaside villa, stating that he wanted to use some of the services offered by the facility, such as the private spa or the state of the art gym.
And yet, Forte Village is but one of the top venues Sardinia high end tourism has to offer, which started from, and is still mostly concentrated in Costa Smeralda.
Costa Smeralda, the gem of high quality tourism
Costa Smeralda became the ultimate high end destination during the 1960s, when Prince Karim Aga Khan placed the mostly uninhabited coast onto the international jet set, attracting business magnates, celebrities and other affluent visitors. Since then, Costa Smeralda has become one of the most exclusive locations in the world, with house prices going from 17,000 to 23,000 euros per square metre.
But it’s not all about real estates: some of the most fashionable hotels and resorts worldwide adorn the landscapes of Costa Smeralda, each offering its unique proposition of location, activities, and facilities. Some of them are Hotel Cala di Volpe, with its unique design inspired by Sardinia fishing villages; Hotel Romazzino, nestled in a splendid isolation, immersed in the perfumes of scented myrtle and sea breeze; and Hotel Pitrizza, where the Mediterranean Sea takes the colour of the tropics.
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At the heart of the active tourism of the coast is the town of Porto Cervo, which has always been receptive to the high-class tastes of its seasonal inhabitants, becoming a world luxury hub and showroom. The latest example of its importance in the luxury industry is the opening of Waterfront, a temporary showroom where elite brands display their state of the art products and services, in a space designed to engage, entertain and amaze. Technogym is among the main partners of the event, displaying its Personal and SKILL lines and hosting many events, such as “Good Morning Training” classes every Saturday morning as well as meetings with fitness experts centred around nutrition and training.