Posted 5.21.13 @ 10:30 by: Staff

While we focus on luxury Oakville real estate, the Odeon Tower Penthouses in Monaco going for a quarter of a billion (that’s right!) dollars really take the cake! There are some places in the GTA that top out at around or a little above $20m, but these 49 story high penthouses are on another level. Sky duplexes so high that you can see the curve of the horizon – but would you be willing to pay the premium? It’s the most expensive real estate on the planet (to date), let’s take a closer look at what $250m buys.

Premium Real Estate

Clocking in at 1,200m2 or a whopping 35,000 feet, this really the most expensive home on earth, if you add up the costs per square foot.  Monaco has long been a haven for the wealthiest – with no taxes, glittering casinos that rise high up out of the ocean and all the glamor it provides, it’s no wonder that this will be home to Monaco’s own twin towers.

If you spring for the $250m home, you’ll get your own private roman style turned modern swimming pool. Here you’ll have a big skylight that lets the light in, floor to ceiling window, full panoramic views of the luxurious Monaco skyline and more. Apartments will have access to a concierge, Russian and Turkish saunas, private chauffer services and even their own cinemas.

Need cleanup or someone to take you somewhere? You’ll have a touchscreen that lets you access just about any service you would in a luxury hotel. No word on how much you’ll pay each month in maintenance fees, but we’re guessing if you’re shelling out $256m for a home, you’re not going to worry too much about paying $1-10m a year in upkeep!

Would You Live There?

The condo won’t be finished until around July 2014, but it leaves us with something to think about. NYC has some really expensive listings as far as condos go, as does the GTA, but just who would buy the quart billion dollar condo? Is this just a gimmick to pack the rest of the towers with more “reasonable” $50m to $100m condos?

One problem the condo is currently facing is a bit of animosity of others in the same neighbourhood, those that worry that the 49 story mammoth structure is going to blight the urban landscape and act as a giant sundial across the city. Imagine getting trapped in that shadow half the day!

The most expensive record condo sale happened a few years ago, also in Monaco, ringing in at over $300m. NYC recently had a condo that went for $125m from Sotheby’s, so the trend for sky high prices with condos probably won’t be going away any time soon!

If you’re looking for a great condo but you don’t want to part with $250m, let us help! We’re experienced luxury Oakville realtors that know how to help you find the home, not just the house, that’s right for you.

Pertinent and insightful information on Oakville real estate as well as commentary on current events in our community.