From Beyoncé’s Beach Pad to a Dubai Aerie—Six Record-Breaking Home Sales Made This Year – Mansion Global

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There were plenty of record-breaking home sales this year even as luxury dealmaking cooled considerably from the peak pandemic years—from Beyoncé’s and Jay-Z’s $200 million Malibu, California, home to a Dubai penthouse with a private pool.

The average price growth for top-tier homes across 46 international cities was up 2.1% annually in the three months ending in September, according to the latest quarterly report from Knight Frank. That’s up from the 1.6% recorded in the second quarter and the recent low of 0.2% seen in the first three months of the year.


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“The recovery in annual pricing confirms that global housing markets are displaying signs of stabilization, despite sharply higher mortgage rates,” Liam Bailey, Knight Frank’s global head of research, said in the report. “However, while 67% of markets saw prices rise over the year, only 63% saw an increase over the quarter, indicating lingering uncertainty.”

In the U.S., there were nearly 30 deals for $50 million or more in 2023, according to Jonathan Miller, the president and CEO of the appraisal company Miller Samuel who has been tracking such deals since 2000. 

This year’s total for U.S. sales was roughly half of “2021 and 2022, but it’ll still end up being the third or fourth highest in history,” he said. 

Mansion Global looks back at six record-breaking home sales in 2023. 

Malibu, California

Celebrity power couple Beyoncé and Jay-Z spent $200 million for a 40,000-square-foot mansion in Malibu, California. Their contemporary concrete home, designed by Pritzker Prize-winning architect Tadao Ando, has clean lines and the cool look of concrete walls and floors, water features and far-reaching views of the Pacific Ocean, plus walls of windows for indoor-outdoor living, photos of the home show. There’s also a huge glass-walled space where the sellers, art collectors Bill and Maria Bell, exhibited their art. The big-ticket purchase by Mr. and Mrs. Carter was the biggest sale ever in the Golden State, plus the most expensive in the U.S. in 2023, according to data from Miller. 

London’s biggest residential deal in 2023 was the £138 million purchase of a Mayfair mansion.


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London

The biggest deal in London in 2023 was the £138 million (US$176.18 million) purchase of a Mayfair mansion by Adar Poonawalla, the chief executive of Serum Institute of India. The billionaire, who made his fortune by producing and selling vaccines, bought the 25,000-square-foot residence earlier this month from the daughter of the late businessman Jan Kulczyk, who was Poland’s richest man, the Financial Times reported. It’s the second-most expensive home ever sold in London—and the biggest deal of the year, the agents told the Financial Times. The deal is just one of the big-ticket sales this year in the posh U.K. neighborhood: There were twice as many home sales over £10 million in Mayfair this year compared to 2022, according to a report earlier this month from Beauchamp Estates.

Palm Beach, Florida

A long-time destination for the uber wealthy, the island of Palm Beach, Florida, has limited housing stock on its nearly 8 square miles. The biggest deal this year was a $170 million purchase of a 1.6-acre estate by luxury car dealer Michael Cantanucci, The Wall Street Journal reported in April. The sellers were Robert Stiller, founder of Green Mountain Coffee Roasters, and his wife, Christine Stiller. Built in 2006, the more than 20,000-square-foot Mediterranean-style home offers about 150 feet of ocean frontage. The deal eclipsed the $155 million that billionaire William Lauder plunked down in March for Rush Limbaugh’s longtime estate. 

A nearly 22,000-square-foot apartment at Como Residences on Palm Jumeirah sold for AED 500 million in November.


Provident Estate

Dubai

Dubai’s housing market has boomed since the pandemic began, and 2023 saw a record penthouse deal in the city when a nearly 22,000-square-foot apartment at Como Residences on Palm Jumeirah sold for AED 500 million (US$136.13 million) in November. The five-bedroom aerie, still under construction, is set to have walls of glass and an “awe-inspiring view of the Dubai skyline … from the sparkling waters of the Arabian Gulf to the iconic skyscrapers,” according to a statement on last week’s sale from listing agency Provident Estate. Renderings also show the penthouse of the 71-story tower will feature soaring ceilings, floating staircases, statement lighting and other luxe finishes, plus a private pool. The project is set for completion in the third quarter of 2027.

Aspen, Colorado

The international appeal of Aspen, Colorado, and its five-star ski resorts has only strengthened over the last few years, pushing home prices in the mountain town ever higher. The $76 million, September sale of a ski-in, ski-out mansion in Aspen broke a 2021 record for $72.5 million, Miller told The Wall Street Journal. The more than 20,000-square-foot residence features an open-plan living and dining room with stone walls and a double-sided sculptural fireplace, a bowling alley, an arcade and a bar, plus seven bedrooms. There’s also a breakfast room on a turntable that rotates, according to the seller, real-estate developer Leathem Stearn. “It’s got 270-degree views of Aspen,” he said. “If you rotate, you get them all eventually.”

A 19th-century home outside Sydney in Bellevue Hill, an eastern suburb on Sydney Harbour, sold for about A$70 million in May.


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Sydney

A 19th-century home outside Sydney in Bellevue Hill, an eastern suburb on Sydney Harbour, sold for about A$70 million (US$47.9 million) in May—the country’s biggest deal of the year, according to the Sydney Morning Herald. Dubbed Leura, the property was designed by architects Walter Liberty Vernon and Howard Joseland in the 1890s in the Federation Queen Anne style. Leo Lynch, former CEO of flower wholesaler Lynch Group, bought the historic property from Chinese-Australian businessman Wilson Lee and his wife, Baoyu Wu, in an all-cash deal that was more than twice what the Wus paid for it in 2015. The residence, which is in need of a renovation, features eight bedrooms, eight bathrooms, a ballroom, a tennis court and a swimming pool.

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