In the United States, convincing billionaires to invest millions in real estate can be a challenging task. In the big cities, glass skyscrapers and sprawling spec homes that broke ground with much fanfare years ago are now full of empty units waiting for buyers. According to some experts, global economic instability has discouraged foreign investors from investing in real estate but this is not actually the case. Stricter regulations have been introduced on all-cash anonymous real estate purchases which are the preference of most foreign investors.
In order to encourage investment for multi-million dollar properties, real estate developers have decided to add some extravagant perks that include:
- Cars – the penthouse at the Atelier condominium in Midtown Manhattan is currently listed for $85 million but the price tag includes some extras – 2 Rolls Royce Phantoms and a $1 million yacht. The cars and yacht are owned by listing agent Daniel Neiditch and he told the Business Insider that he will be signing over the ownership to the buyer of the condominium.
- Yacht – the buyer of Alexander’s Bal Harbour Home will enjoy the extra perk in the form of a 55-foot VanDutch yacht.
- Private restaurant – a 5-star restaurant will span an entire floor of a 96-story building, the tallest in the Western Hemisphere. The restaurant will have Chef Shaun Hergatt at its helm and his culinary skills will only be available for the residents of the building. Creating residents-only restaurants and beach clubs is a new idea of developers of new buildings to attract buyers.
- Art galleries – a recently listed home in Beverly Hills offers any interested buyer the opportunity to buy 28 pieces of work that are on display including the Pablo Picasso sketch called “Fumeur a la Cigarette Rouge”. However, the artworks are not included in the $48 million asking price.
On a different note, manufacturers are starting to establish MAP policy applicable to all its retailers so that they will not advertise below the minimum advertised price (MAP). Compliance to MAP is not legally required but it is a win-win situation for both the manufacturer and the retailer because brand image and pricing is protected.