In these times of low unemployment, it’s hard to find good (any) help. For the wealthy, it’s also hard to find the right manse with an equally tight luxury real estate market. Recently, Christies published their sixth annual look at the global luxury real estate market.  For those buyers, sellers, and real estate professionals, it’s an interesting view into the high-dollar niche world of luxury real estate (with surprisingly few eye-rollingly “woe is me” moments).

Let’s hit a few high points.

Christie’s defines a luxury home as one costing 3.4 times the cost of an average home in a given area. They further note that on average, the highest-priced home in a given area is 39 times the cost of the average home.

How does Dallas fit?


Les femmes d’Alger

In 2015, a Picasso painting sold for a record $179 million. It was painted in 1955 and titled “Les femmes d’Alger” and was a tribute to friend and rival painter Henri Matisse.  Compared to that, the auction of Picasso’s last home should be a breeze where bidding will start at € 20.2 million tomorrow at, a Christies affiliate. Coming full circle, Les femmes d’Alger was also sold by Christies.

Unassuming, yet stunning main entrance (door behind tree)

The home, known locally as Mas de Notre Dame de Vie was the artist’s home from 1961 until his death at 93 in 1973.  It’s located in the hills about four miles north of Cannes, France. When Picasso purchased the home it already had 24 rooms. His first addition was a studio space with its own terrace. Over the ensuing years, the home grew several more times.  The main house encompasses 13,000 square feet with five bedrooms and nine full and one half baths … oh, and two kitchens. A guest house and gatekeeper’s cottage clock in at another 4,000 square feet. Not to worry, the home sits on eight acres spread across a hillside offering mind-boggling views over Cannes and the sea.

Head over to for pics of this stunning property.

What happens when you don’t bulldoze a vibrant urban core for an urban office park?  Austin. What happens 60 years later when you finally realize the huge mistake you made? Houston and Dallas. What happens when you want the very best pied-à-terre in Austin? You head to the Austonian at 200 Congress Avenue. And putting the “high” in highfalutin is unit 50T.

Yes, the 50th floor.  It’s not even the highest unit in this building but it’s still eight floors above Dallas’ tallest residence.  It’s a 4,845-square-foot, three-bedroom unit with four full and one half bathrooms This decked out unit is listed with Christie’s affiliate Eric Moreland with Moreland Properties for $7.25 million.  Oh, and add another 468 square feet of balcony space spread across three outdoor areas.  Levels 55 and 56 are an added bonus of resident space (like Dallas’ Mayfair). I like buildings that reserve the best views for everyone, not just the penthouse owners.

The building itself is in the thick of Austin swing.  On the streets below, you’re two blocks from the Colorado River, Lady Bird Lake, and Austin’s famous bat bridge.  You’re also a hop-skip to the Four Seasons Hotel, Gus’s World Famous Fried Chicken, Oilcan Harry’s, and the Austin music scene. And let’s not forget being a short mile from Franklin Barbeque and Amy’s Ice Creams (you’ll feel less guilty if you walk to those).

Hope over to for the fab interiors.

AbFab fans will recognize Pierre Cardin’s $381 million Bubble Palace. Listed since 2015. Source: Christie’s

It was the best of times, it was the not-so-best of times. Christie’s annual Luxury Home Market Report has many interesting insights into the global luxury market and how, in many ways, it operates on another plane, divorced from the broader real estate marketplace. While this should be unsurprising, the wealthy seem to always be on a different plane, there are some interesting insights.  Think of the following as a good, old-fashioned book report.