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pueRto RiCo - “Historically Puerto Rico has had a strong tourist community with real estate mostly owned by locals. Hit hard by the downturn of the market, it is rebounding, which has translated into opportunity buying. Inventory is moving at a faster pace, and we are definitely seeing an uptick in the market on the luxury end.

Many new buyers are coming into the market directly from new tax incentive laws that were passed and are attracting buyers from all over, especially within the United States. Record prices have been set in resort, beachfront communities such as the new Ritz Carlton Reserve at Dorado Beach and the Trump Founders Residences. These buyers are seizing the opportunity to purchase well and take advantage of these incentives. The lifestyle here is cosmopolitan, cultured and tropical as well as extremely diverse. I believe Puerto Rico will be the new Riviera of the Caribbean!”

Margaret Pena Juvelier, owner and president Puerto Rico Sotheby’s International Realty

new yoRk, ny - “We are continuing to see the robust sales momentum triggered during the ending months of 2012. Foreign

buyers have proven to be the main instrumental market force. Europeans have been joined by Canadians, Brazilians, Asians and Russians in signaling confidence in both the US and the dollar. Many foreign investors believe that real estate is the new global currency, and the run-up of international purchases here in New York support that theory. Compelling factors fueling the international invasion of buyers include the commonly held opinion that New York remains more affordable than other major global cities and the perceived upside to the long-term investment potential of our market. New York, long heralded as a safe haven for wealth, offers stability both economically and politically.

Specifically, the Manhattan luxury market in 2012 ended with one of the top quarters ever recorded, which is directly responsible for the tight mid-year 2013 market. Inventory is at historic lows. This alone has had the biggest impact on the velocity of the market. Thanks to the momentum of global demand, we currently have a healthy, stable Manhattan market.”Nikki Field, senior global real estate advisor Sotheby’s International Realty-East Side Manhattan Brokerage

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Puerto Rico Sotheby´s International Realtyproperty ID: 4000042209 • $7,800,000 USD

� his is an exciting time for the luxury real estate industry, as we continue to see many significant sales globally. This issue of Perspectives highlights two $30 million sales from two very far-reaching places: Miami, Florida, and Taiwan. We also are proud to feature some very extraordinary listings from a penthouse in the Pierre Hotel in New York City for $125 million to an 18th century Russian palace.The market in the United States shows continued signs of stabilization as prices continue to increase in many regions and almost all major cities while listing inventory has declined to a more normalized level. The international markets have experienced mixed results. We have seen a growth in Asian investors buying outside of their respective countries. We are seeing positive sales growth in the Bahamas and Bermuda, and our expansion in the Caribbean and Latin America will start to show positive results later this year and 2014.

I hope you enjoy reading this issue of Perspectives. This issue’s lifestyle comparison focuses on equestrian, mountain and water view. We discover what an equestrian property in Germany means as compared with Ft. Lauderdale, Florida. For mountain we look at a log home in California and a timber and stone home in Aspen, Colo, while the water view lifestyle takes us from Turkey to Canada. Enjoy this issue of Perspectives!

Sincerely,Philip White President and Chief Executive Officer Sotheby’s International Realty Affiliates LLC

“This is an exciting time for the luxury real estate industry, as we continue to see many significant sales globally.”

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Ben Bacal and Ryan Davis of Sotheby’s International Realty-Sun-set Strip Brokerage in California sold the below pictured home for $16 million. One of the most important view promontories in lower Bel Air, it is sited on more than an acre. This estate has sweeping views of the Angeleno Mountains, downtown, Century City and the Ocean. The main house has great scale with soaring cathedral ceil-ings. It features a library, screening room, gym, wine cellar and large master suite with sitting area and office as well as dual baths. There are an additional three bedrooms. The guest house consists of two separate suites, each with their own private entrance.

Russell Firestone, Michael Rankin and Lawrence Calvert of TTR Sotheby’s International Realty in Washington, DC, sold the estate of the late Alexander Haig, who served as secretary of state under President Ronald Reagan, for $5.18 million, achieving 94 percent of the offering price.

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CAnAdA - In a report released by Sotheby’s International Realty Canada, activity in the first six months of 2013 reflects recalibra-tion and overall strength in the luxury residential real estate in the country’s largest urban centres. As reflected in the latest Top-Tier Real Estate Report, analyzing year-over-year sales data for the first half of 2013 for single family, attached and condominium proper-ties over $1 million, positive momentum continues in key markets compared to 2012. Each market showed year-over-year variations between condominiums, attached homes and single family homes in a range of price categories over $1 million.

National trends across Canada’s largest urban markets reflected notable momentum in the sale of single family homes over $1 million. Compared to the last half of 2012, sales in the first half of 2013 were up 65% in Vancouver, 67% in Calgary, 61% in Toronto and 29% in Montreal; relative to the first half of 2012, sales were up 10% in Calgary, and marginally down 2% in Vancouver, 5% in Toronto and 6% in Montreal.

Luxury attached home sales in all four markets increased in the first six months of 2013 compared to the last six months of 2012 and the average numbers of days on market declined. According to

Sotheby’s International Realty Canada CEO, Ross McCredie, “Our findings for 2013 point to renewed confidence in much of Canada’s high-end real estate market. High-end buyers have adjusted to tighter lending controls and Canadian real estate is still seen globally as one of our strongest assets.”

n o t a b l e s a l e s Taiwan Sotheby’s International Realty sold this building for $31.25 million (USD), 919.2 million (NTD). It is constructed with steel reinforced concrete construction. A 12-meter distance from the road provides a more tranquil atmosphere and a higher level of privacy. Set in the middle of the prestigious Far East Com-mercial District in Taipei, the primary location across the famous Far East Plaza offers the architecture a significant view of the splen-did Dunhua South Road area and also allows a wide range of con-venience in both transportation and daily facilities. The building’s elegant external design follows a high aesthetic standard and aims at resembling artistic museums, featuring gorgeous and carefully-selected granite façade on all four sides.

Sotheby’s international Realty Canadaproperty ID: 4000042718 • $10,688,952 USD

Sotheby’s international Realty-Sunset Strip Brokerage in California sold this home for $16 million

taiwan Sotheby’s international Realty sold this building for $31.25 million (uSd)

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one Sotheby’s International Realty in Miami, Florida, represented baseball icon Alex Rodriguez in the sale of his $30 million estatettR Sotheby’s international Realty in Washington, dC, sold the estate of the late Alexander Haig for $5.18 million

The buyer of the McLean, Va., home is the incoming group president of an international defense contractor who is relocating from California. They read about the property in The Wall Street Journal’s “Private Properties” column and visited the home a day before it hit the market. An offer was received three days later. The Georgian-style home is 11,725 square feet and has five bedrooms, nine bathrooms and eight fireplaces. A top-floor master suite has views of the Potomac River. The 1-acre property also has a gym, sauna and staff apartment.

Mayi de la Vega and Arlene Susy Dunand of ONE Sotheby’s In-ternational Realty in Miami, Florida, represented baseball icon Alex Rodriguez in the sale of his $30 million estate at 4358 North Bay Road in Miami Beach. The transaction closed on May 24, and was the highest sale price ever on the prestigious North Bay Road and one of the biggest sales on record in Miami Beach.

“The demand for trophy homes worldwide, especially those contemporary in design, has never been greater,” said Mayi, chief executive officer and founder/estate agent for the firm. Located on one of Miami Beach’s most desirable streets, North Bay Road, the home is a modern masterpiece with uninterrupted views of

Miami’s skyline and Biscayne Bay, featuring two docks and 275 feet of water frontage. The gated estate offers 19,861 square feet of living space, including nine bedrooms, 11 full and two half bathrooms, a gourmet kitchen and a four-car garage.

The home was custom built in 2011 and features a home theater with surround sound throughout, covered terraces, a vanishing-edge heated pool, outdoor kitchen and rooftop deck, amidst lush landscaping and Zen gardens. A stand-alone gym and 3,000-square-foot sports room, sauna and steam room, and a separate guest house also grace the 48,160-square-foot property. ■

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Gianluca Puracchio of Rome Sotheby’s International Realty is representing a Capri castle for $45.5 million (USD). Overlooking the town of Capri, this residence was considered one of the most important villas of the whole island. Its ruins, found at 250 meters above sea level, were radically restored throughout the years, start-ing from the first renovation works carried out by Carlo d’Angiò in 1283. This villa is one of the 12 villas of Tiberius, and it set in the most charming panoramic spot of Capri with 360-degree views over the island. There is one master suite with an annex studio and walk-in closet, four en-suite bedrooms, a total of eight bathrooms, a wide living area, kitchenette, studio/media room and staff quarters. A beautiful circular-shape swimming pool overlooks the Mediter-ranean. ClICk hERE for more information.

l i s t i n g s o f d i s t i n c t i o nincludes the original ball room at The Pierre Hotel. There are four adjoining terraces, five master bedrooms, six full baths and three half- baths, five working fireplaces, separate guest suites plus staff accommodations. Off the main entrance are the penthouse’s sec-ondary interior stairs, private elevator, main kitchen and staff bedroom with bath. ClICk hERE for more information.

Sotheby’s International Realty - east Side Manhattan Brokerageproperty ID: 0018837 • $125,000,000 USD

Brenda Powers, Serena Boardman and Elizabeth Sample of Sotheby’s International Realty-East Side Manhattan Broker-age have listed the penthouse at the Pierre Hotel in Manhattan for $125 million. The penthouse encompasses the entire 41st, 42nd and 43rd floors and has 360-degree views of Manhattan. It is located within one of the world’s greatest hotels, The Pierre. The Residence encompasses 16 grand rooms. This elegant space

Rome Sotheby’s International Realty property ID: 4000040230 • $45,500,000 USD

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The magnificent palace features an indoor garden, fountain, Stillroom with windows overlooking the Neva, decorated with tooled leather and painted in gold.

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l i s t i n g s o f d i s t i n c t i o ncont inued

recently renovated and restored. The Hermitage restoration work-shops and the State Museum of the History of St.-Petersburg have taken part in the restoration works. The magnificent palace features an indoor garden, fountain, Stillroom with windows overlooking the Neva, decorated with tooled leather and painted in gold. The Gothic Hall is a wonderful example of Neo-Gothic architecture. Price avail-able upon request. ClICk hERE for more information.

Moscow Sotheby’s International Realtyproperty ID: 4000042393 • Price Upon Request

Nadezhda Kot of Moscow Sotheby’s International Realty has listed an 18th century palace on the English Embankment in St.-Petersburg - one of the city’s grand facades stretching from Senate Square to the shipbuilding wharves. The palace once belonged to Duke Trubetskoy, one of Peter the Great’s favorite companions, then the palace changed its noble owners several times until it was nationalized in 1917. The palace facades and interiors have been

Bill Fandel of Telluride Sotheby’s International Realty and James Simpson of Fuller Sotheby’s International Realty have listed 4 Rockin’ G Ranch in Longmont, Colo., for $16.9 million. Set within a stunning private valley just minutes north of downtown Boulder, Colorado, the 144-deeded acres of the 4 Rockin’G Ranch is the rarest of assemblages. Offering a perfect combination of a comfortable family compound, premium working ranch and a true recreational retreat, 4 Rockin’G is bordered by over 1,000 acres of dedicated Open Space. The custom-crafted main home is designed with the quality, detail and elegance of a French-country estate us-ing the finest materials including limestone, granite, walnut floors, extensive fine woodworking and ironwork, and custom glass win-dows that capture expansive views. The equestrian complex which includes an Olympic-size riding ring, 12-stall barn, tack room and veterinary facilities, sits adjacent to an outdoor pool, dining and recreation area, and is just a short walk to a separate guest cottage and caretaker’s home. ClICk hERE for more information.

Telluride Sotheby’s International Realty property ID: 20607041 • $16,900,000 USD

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EQUESTRIAN PRoPERTIES

l i f e s t y l e c o m p a r i s o n

Lower Saxony, GermanynRW immoBiLien SotHeBy’S inteRnAtionAL ReALty

$25 million (USD) Nestled in green fields and old woods, this property is located just outside of the lovely village of Syke. It includes a meticulously refurbished cottage and a newly built, state-of-the-art stud farm, the well-known Gestuet Famos. ClICk hERE for more information.

property ID: 4000031061

CirCLe S Farm, Fort LauderdaLe, FLoridaone SotHeBy’S inteRnAtionAL ReALty

$24.1 million (USD) This premier Southern Florida Thoroughbred Training/Breeding Farm is located within 14 miles to Calder Race Course and 26 miles to Gulfstream Park Race Track. On nearly 50 acres, this equestrian paradise is made up of two single family homes and apartments. ClICk hERE for more information.

property ID: 20642257

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MoUNTAIN PRoPERTIES

l i f e s t y l e c o m p a r i s o n

June Lake LoG Home eState, June Lake CaLiForniaSotHeBy’S inteRnAtionAL ReALty- SunSet StRip BRokeRAge

$14.9 million (USD)One of the largest and most exclusive hand-hewn log homes in existence, this magnificent estate is set in the eastern Sierras in a world-class fishing and skiing paradise. Located in the renowned June Lake area of Mammoth Lakes, Calif., the designer-done 9-bedroom and 9.5-bath residence offers every amenity desirable. ClICk hERE for more information.

property ID: 0306796

SnowmaSS Creek, SnowmaSS, CoLorado ASpen SnoWmASS SotHeBy’S inteRnAtionAL ReALty

$12.5 million (USD)Located in pastoral Snowmass, Colorado, this finely crafted timber and stone home is graciously designed with grand spaces and every room enjoying sights and sounds of the river. The home’s spacious and private verandas have outdoor fireplaces overlooking Snowmass Creek with sweep-ing mountain vistas. ClICk hERE for more information.

property ID: 4402379

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© 2013 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.this newsletter is provided for informational purposes only and is not intended, nor shall it be deemed, to provide or offer legal, financial or tax advice or guidance. the views and opinions set forth in this newsletter are not necessarily the views and opinions of Sotheby’s international Realty Affiliates LLC. you should always consult with your own advisor when dealing with any of the issues visited herein.

WATER VIEW PRoPERTIES

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Sant Joan de LabritJa, ibiza iBizA SotHeBy’S inteRnAtionAL ReALty

$23.8 million (USD)This southeast facing mansion is on the coastline, with its own sea access and old light house. The main house has accommodation for 22 people, two separate guest houses for 14 guests and a staff house with four bedrooms, a unique infinity pool, spacious salons, a tennis court and lus-cious gardens. ClICk hERE for more information.

property ID: 4000039566

madeira Park, britiSH CoLumbia, Canada SotHeBy’S inteRnAtionAL ReALty CAnAdA

$19.2 million (USD) One of British Columbia’s finest and most dramatic coastal properties, this gated oasis spans more than 21 acres with 1,000 feet of natural shoreline and offers total privacy and seclusion. Ex-posed architectural reinforced concrete walls are combined with Pennsylvania Blue Stone floors and Douglas Fir beams inside to create a delicate warmth to host an over 6,600 square foot main residence. ClICk hERE for more information.

property ID: 4000037873