Beyond the prime markets of London and New York, there are the smaller communities of wealth that often go under the radar.
Between the ocean and mountains of California’s Santa Barbara County sits Montecito, a small, beautiful bubble of wealth with an old world charm that is home to Hollywood stars and some of America’s most expensive properties.
Among its 9,000 residents, there is a small group that gets together at the same time and place each week and is known locally as “the billionaires’ breakfast club”. There is little for sale under $7m in prime Montecito, according to Christie’s International Real Estate (CIRE), and large estates can cost up to $40m.
One property for sale is El Fureidis (“tropical paradise”), an estate once owned by the author Thomas Mann, who hosted parties there attended by Winston Churchill and Albert Einstein, and which featured in the 1983 film Scarface. The four-bedroom house has been recently renovated and there are extensive landscaped gardens, an orchard and a pool. It is priced at $35m through CIRE.
Source: Financial Times