You have 320 choices if you're looking for a home that costs more than $20 million – though if you're smart, you shouldn't have to pay nearly that much. Why? As you'd expect, real estate agents are having trouble moving these houses, so they are staying on the market for a while, and age doesn't do much for a property's value.

The top listing right now belongs to Aaron Spelling's widow – at least until she can sell it. This is a difficult proposition, however, with a price tag of $150 million. Four years ago, the highest price on the market was half what Spelling is asking. This year, $75 million isn't good enough to make the top 10.

Since the number of listings is up, you'd expect sales to be down ... and that's how it's working out. In the Hamptons, year-over-year sales were off 43 percent in the second quarter, with the median price down 17 percent. Homeowners who can't sell are trying to rent instead, with mixed results. Joseph Farrell, who has a home in Bridgehampton, would like to sell it for $59.5 million. Until that happens, he has to be content to rent it, which he's doing now at $425,000 for two weeks.

So, if homes aren't moving, why continue to price them above $20 million? The answer is as old as consciousness: vanity. An absurd price is guaranteed to get some attention (as I've just demonstrated).

Looking for something new under the Caribbean sun? The Sheherezade is a new five-acre villa – one acre for every star, I guess – on Mustique. This is one of only a handful of properties on the island that offers access to the Mustique Moon Walk and is adjacent to a 100-acre reserve, tennis court and private gym. Located on the south side of the island, Sheherezade features views of where the Atlantic and Caribbean meet from one of the highest points on Mustique, turning the home into a paradise within a paradise.

Designed by Mexican architect Manolo Mestre, this seven-bedroom compound includes a main family residence and three private guest villas, connected by an expansive palapa with infinity pools along a carefully landscaped ridge. Bathrooms are spa-inspired, and 280-degree vistas are offered from the verandas. The primary residence, with four bedrooms, integrates exotic woods, a pebble mosaic and hand-chiseled floors, with organic materials included in the construction. The three private cottages feature one bedroom each and tranquil gardens. A lap pool and sun terrace are accessible from all four buildings. All four buildings are supported by a staff of six. In total, the Sheherezade has a capacity of 14 guests.

While you can disappear to the Sheherezade to chill, the active will not be bored. Wireless internet is up and running for those (like me) desperate to stay connected, and there's a tennis court on the property to feed those with the green ball addiction. The most important amenity, however, is privacy. When you step into this corner of Mustique, you will be lost to the world ... until you decide to return. Of course, at $40,000 a week, you'd expect nothing less.

VillaVida owns large and luxurious villas in the Quinta do Lago and Vale do Lobo area of Portugal. Their Luxury Collection of the fifteen most beautiful properties has been selected and published here on their website.

Each of the selected villas features 4+ bedrooms and a swimming pool, and many include saunas, gyms, tennis courts, waterfalls, and more.

The Quinta do Lago Bonaparte 6-bedroom villa you see above includes gardens with extensive flowerbeds, manicured lawns, an ornamental lake, and an orchard of citrus trees alongside the private tennis court. The villa is fully furnished with American-style kitchen conveniences and is just two kilometers from the beach. It is available for €7,000 to €13,000 depending upon the season; maid service included.

A luxurious villa in St. Barth's has just been sold by the local affiliate of Sotheby's Int'l Realty for $39 million, setting a new record for the swank French West Indies resort. Villa La Grande Maison des Etoiles, situated in an exclusive gated mountaintop community, sets a new standard in luxury for the famed getaway. The seven-bedroom, seven-bath estate features panoramic views of the ocean, neighboring islands and incoming megayachts, as well as multiple in- and outdoor living and dining areas, several pools and lush gardens, all bordered by magnificent stone walls handcrafted from volcanic rock. There are Louis Vuitton and Hermes-themed guest suites with views as well. If you missed out on this elegant property, don't despair; the villa will be available for rent a few weeks out of the year for pre-qualified individuals, at a cost of $193,550 per week during peak season.

The popular resort destination of Antigua also has a smattering of real estate. This home has views of Dickenson Bay and is surrounded by tropical landscaping. The Date Palm Villa has three bedrooms and open spaces that create an easy flow between indoor and outdoor living areas. The home has a 31 foot x 15 foot swimming pool and separate Jacuzzi finished with Bisazza tiles. Other details include a shower room for pool area, a large sun terrace and a kitchen with a separate utility room. This home is listed at $1.4 million.

One resolution I have for Luxist is to feature more real estate from around the world this year, at least one per week. Today's home is located in Estoril, a seaside resort in Portugal. it is located near Lisbon, the capital of Portugal and attracts visitors with its sunny shores and classic charm. Today's villa has eight bedrooms and a lovely waterfront location. The home is four levels that include an entrance hall, living room, formal dining room, library, piano room, master bedroom chapel, wine cellar and staff quarters. Outside there are several terraces with an ocean view, a swimming pool that faces the ocean, and a garden. It is listed at 11 million euros.

Why rent a luxury hotel room when you can step it up a notch and have a villa instead? Many people don't consider villas by sheer reason that the thought doesn't occur to them, or if it does it's intimidating because people aren't sure how it works. It's really not that complicated, and the benefits of having your own luxury home (as opposed to just a suite in a hotel) at your disposal for the duration of your vacation are amazing.

As far as which villas you might want to consider take a look at the 10 on this slide show, which are complete with villa renting tips like how to consider whether or not you'll need to rent a car and how to choose the best season. Apparently Croatia is becoming one of the hottest villa-vacation hot spots in Europe, and Meikloeur Castle in Scotland is one of the priciest renting for $37,200 per week (but for that you get your own 18 hole golf course).

For your Friday fantasy we are whisking you off to the Terres Basses area of St. Martin in the West French Indies. This four-bedroom villa set amidst lush grounds, has been for rent for rates starting at $3,500 (a week). Of course, for a vacation villa one of the most important areas is the pool. Villa Alexandra has an infinity edge pool overlooking the lagoon that is surrounded by a large terrace with shady and sunny lounging spots. Inside, the decor is classic island villa, high-pitched white ceilings, French doors to let in the afternoon breezes and low maintenance tile floors. The grounds also include a four-story building that has four apartments which can be rented out. It is listed at 2.95 million euros. After the jump, step one, ditch the rental furniture.

This is interesting, a luxury villa rental in the Dominican Republic is promising to give the profits of the rental to the PONA foundation, a trust that the family members set up to give money to the local community and local charities. The luxury villa was built not just as the headquarters for PONA but with the idea that it could be rented out to make money for the nonprofit foundation. The trust is a perpetual organization where a pool of money is invested, and the profits of the funds are split between reinvestment in the local area and giving to local charities. Through the PONA Trust, the Moller family has purchased an acre in Cabrera with plans to begin building a community school and the vacation rentals of Flor de Cabrera will fund the classes.

The villa has easy access to beach and has a large swimming pool, tropical gardens, a full staff, tennis courts, game room and an exercise room. The villa has a variety of bedroom suites include two master suites (one away from the house and down by the shore). Villa Flor de Cabrera rents for $18,200 per week during the low season not including the mandatory meal plan. Is this just a gimmick or could luxury vacations that fund charities be the wave of the future?

The picture above is of the latest extravagant villa at the Peter Island Resort in the British Virgin Islands. Falcon's Nest is a 20,000 square-foot, six-bedroom private island villa estate located high on the peak of a hill overlooking White Bay Beach. The villa was designed to be a contemporary Caribbean home with luxurious features that include a custom 12-person tiger maple dining table, rain showers with colorful, laser-lit jets, an ocean-view spa room for treatments, six bedroom suites each with a terrace and a bathroom with indoor and outdoor space and an outdoor space that includes a two-tiered pool with a waterfall. The shot above is the two-story great room which does a wonderful job of combining seaside elements (the seashell rug, the clamshell and driftwood objects) with clean and modern style. The villa has nanny quarters and the services of a private porter/chef and a chauffeured vehicle. The villa rents for $8,000 per night during the low season (now through November 16) and rockets up to $13,750 during the winter holidays.

Many of the people who indulge in rented luxury villas don't always get what they bargained for. You'd think, compared to a hotel, that a villa would be a nicer, better experience -- but most of the time it isn't. So Christian Jagodzinski decided to fix that by starting his own company of luxury villas that would deliver as he expected they should: Villazzo was born.

With most everything pre-arranged, Jagodzinski thinks of Villazzo as more of a hotel-type service than villas. He even makes a point to offer the same services as top hotels, such as porters and maids, strawberries and champagne, and even a helicopter in the France location to help guests avoid pesky traffic when traveling to nearby retreats -- there are 35 specific luxury services offered altogether.

So if you've been frustrated in the past and haven't yet tried Villazzo, maybe you should consider it. There are six locations around the world, with prices around $2000 per night/$14000 per week.


Via BusinessWeek

Travelers to Santa Fe desiring an authentic and luxurious New Mexico experience can now look to Casa de Estrellas. This new boutique hotel located in the heart of the city is designer Jay Payne's vision of high end, low key pampering.

With an emphasis on privacy and service, the Casa de Estrellas, or House of the Stars, offers guests private villas instead of rooms, complete with gourmet kitchens and the availability of a personal chef, butler and host. Originally built in the 1930's, the one and two bedroom villas feature mediterranean inspired, adobe style architecture, filled with ancient antiquities from around the world. The property also boasts a full service salon and spa as well as a wedding garden inspired by the work of Kadee Strickland, star of the TV series Wedding Bells. The one bedroom villas start at $195 per night. For larger parties, the 1,200 square foot Aria Townhouse will soon be available starting at $500 per night.

Thinking about pulling "A Good Year" of your own? Check out these luxury villas from Rincon Careyes on Mexico's pacific coast – it's like Robinson Crusoe meets Donald Trump in a secluded, tropical fantasy land that prides itself on maintaining the highest standards of extravagance while still giving their residents a sense of intimacy with their exotic surroundings. Their empty lots start at $475k, but be sure to check out the 3-acre private lot "La Playa"; with multiple, interconnected dwelling units (many open-air), this $6m property certainly threatens to rip you out of your 80 hr/week Wall Street gig. It's more fun to climb palm trees than corporate ladders anyway, right?

Rod Stewart and finacée Penny Lancaster have ended a four-year search for the perfect house (in addition to Stewarts properties in Beverly Hills, Essex and Palm Beach), buying a £3.3 million ($6.3 million) estate in a village near Nice, France. The house is set on about an acre in the hills over Nice, looking out towards the coast with "stunning views", and has four bedrooms, a nursery, a swimming pool and spa, indoor gym and a theater. Rod and Penny plan to be married there later this year.

Perched on a rocky cliff with a view over the ocean, it's easy to see why the Roman emperor Tiberius chose this spot for one of his famous 12 villas on Capri. This island with its rocky cliffs and oceans views has seduced everyone from emperors to Gore Vidal. This villa has seven bedrooms, two kitchens and a large living room area. The home has a pool and helicopter access and private road access. It is selling for 30 million euros. After the jump, from here you can see forever...