London Dominates New York in Number of Millionaires in its City

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It’s official! London has the world highest concentration of millionaires according to a report conducted by Knight Frank — a property consultancy entity. No less than 870,000 Londoners are considered dollar millionaires with assets worth more than £720,000 which makes them ‘high net worth individuals.” In comparison to New York, which used to clinch the top place for the aggregation of millionaires, now one in ten people in London are dollar millionaires. 

To expound further, the swell could be attributed to the rise in property prices, and with average housing costing £514,000, a lot of people who owned property in London are tipped into the HNWI category. “The main point is that our HNWI threshold is US$1m, so £720,000, and with average house prices in London at £514,000, a lot of households fall into the HNWI category,” says Liam Bailey, the global head of research at Knight Frank. “Ironically the high cost of housing in London is the main driver for categorising so many households as being wealthy.”

This £22.5 million, seven-bedroom home in Belgravia is one of the most expensive in London; Image Credit: Harrods Estates

London is also a prime location for many rich Hong Kongers, as the island was a former British colony, the British government has launched a new scheme allowing holders of the British national overseas (BNO) passport and their dependents easier pathway to becoming full-fledged British citizens. Many in Hong Kong are worried about China encroaching on the political freedom of the citizens living in the island-city, therefore, choosing to leave for “better pastures” overseas. For these millionaires, investment equivalent to at least £2 million in the UK would secure them the golden visa, as a result, a 68% increase in these visas were issued according to a separate research by the City law firm Bates Wells.

The Knight Frank report has further quantified London to possess the largest number of “prime” homes with an estimated value of £2 million as a baseline. Coupled with amenities such as Michelin-starred restaurants, opera houses and theatres, world-class universities, and shopping malls, the city is a rich man’s playground. It’s no wonder that many oversize buyers flocked over to size up the properties in the wake of the drop in pound value and tax advantages as a result of the aftermath that is Brexit. Thus, the transaction sales recorded a 24.1% jump compared to last January according to new figures released by HM Revenue and Customs (HMRC).

Dinner by Heston Blumenthal

University College London

Luxury shopping street housing a myraid of high-end brands. Image Credit: Getty Images

Also revealed in the report is that those who are already very rich were made even richer despite the pandemic adversely affecting multiple industries. More than 6,000 joined the ranks of the “ultra wealthy” group with assets with a value of more than £21.3 million (US$30 million), this is a 2.4% increase from last year. It is expected that the numbers will continue to grow, driven by the continuous growth seen across Asia such as China, India and Indonesia.

According to Forbes’ list of billionaires, the top 3 places belongs to Jeff Bezos, Bill Gates and followed by Bernard Arnault. 

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Rolls-Royce New Limited Tempus Collection Phantom

Rolls-Royce’s new Tempus Collection Phantom

Rolls-Royce recently announced the released of an extremely limited new iteration of the marque’s iconic Phantom limousine. The Phantom Tempus Collection consists of just 20 cars. And before you ask how much it costs to own one of them, you’ve run out of time, pun completely intended. All 20 vehicles have already been reserved by customers.

Looking to The Stars

A key inspiration for the Tempus Collection’s is literally out of this world. Far, far outside our universe in fact. Inspiration came from the pulsar, an astronomical marvel discovered in 1967. These dense stars can actually be thought of as incredibly accurate astrological clock, as they emit extremely regular pulses of electromagnetic radiation.  Rolls-Royce captured the beauty of the pulsar and made it the cornerstone of the Phantom Tempus’s interior design. The original Phantom’s distinctive Starlight Headliner is reimagined as the Pulsar Headliner. Using specially designed fibre-optic lighting and bespoke embroidery, the cabin’s interior is transformed into a stunning replica of a spinning galaxy.

While the Pulsar Headliner represents the constant movement of time measured by the pulsar’s constant electromagnetic pulses, the dashboard has been reworked to capture the illusion of time standing still. The “Frozen Flow of Time” Gallery is placed on the car’s fascia, fashioned from a billet of hand-polished and black-anodized aluminium. The aluminium is milled to create 100 individually contoured columns. Rolls-Royce says that this represents the 100-million-year period of the celestial object’s rotational spin. Those familiar with the internal layout of the production Phantom would notice that the Gallery’s position on the dashboard is normally where the clock would be. However, in the Tempus Collection, this has been omitted by design. This represents the user’s freedom from the burdens and limitations of time.

In the glove compartment, Rolls-Royce has included a description of the Gallery on an engrave plaque, complete with a quote from Albert Einstein.

“The distinction between past, present, and future is only a stubbornly persistent illusion.”

The Cold of Space

Following in the marque’s tradition, the Tempus Collection Phantom is complete with an exquisitely designed champagne chest with distinctive appointments. The Tempus Champagne Chest takes the original Rolls-Royce Champagne Chest and jazzes things up. The table is adorned with hand-painted pulsar artwork to fit with the Tempus Collection’s theme. Under the table, the chest contains thermal flasks for patrons to travel in style, enjoying the luxuries of chilled champagne and caviar. Also included are four hand-blown champagne flutes, arranged within to resemble the cylinders of the limousine’s V12 engine, as well as a mother-of-pearl caviar spoon.

In Blackest Night

Continuing with the Tempus Collection’s theme of time and space, the Phantom is painted in a new bespoke finish called Kairos Blue. Rolls-Royce created this finish specifically for the Collection to symbolise the darkness and mystery of space. The new paint finish uses blue mica flakes whose jewel-like quality catches light, making them sparkle like stars against the limousine’s black exterior detailing.

On the Phantom Tempus’ bonnet, Rolls-Royce included a chance for personalisation. The Spirit of Ecstasy, introduced 110 years ago, can be engraved with a date and location of significance to the buyer.

The Phantom is one of Rolls-Royce’s most iconic offerings and the Tempus Collection captures that spirit of grandeur and symbolism perfectly.

“Phantom is our pinnacle product, so producing a Collection Car is always a supremely important moment for us and our client,” says Torsten Müller-Ötvös, CEO of Rolls-Royce Motor Cars. “With Phantom Tempus, our sources of inspiration are on appropriately grand scale: time, deep space, and a theoretical physicist who changed the way we see the universe and our place within it.”

Only 20 of these cars were made, and all have already been reserved. Therefore for those looking to own one of these limousines, it might be a little too late. However, Rolls-Royce has created a Virtual Reality (VR) presentation, allowing for an immersive, 360° tour of the car’s interior and exterior.

To find out more about the Rolls-Royce Phantom Tempus Collection, including the VR experience, head over to their website here.

All images courtesy of Rolls-Royce.

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From Bright To Kang Daniel, the Style Icons Going Glamping With Burberry

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If you can’t get to the FROW, trust Burberry to bring it to you – bells, whistles and all. For the British luxury Maison’s inaugural menswear-focused digital show, Riccardo Tisci pays homage to the great outdoors. And what better way to do that than to send a host of its VIP customers and mega-name clientele custom-made Burberry camping chairs?

From lush fields to picturesque cityscapes, Burberry tapped some of Asia’s hottest style icons for a self-shot precursor to the much-anticipated show. On the Maison’s list: Thai actor and model Gulf Kanawut, Korean superstars Kang Daniel, Rain, Baekhyun and RAVI, Japanese actor and musician Yōsuke Kubozuka, Malaysian actor Alvin Chong as well as Thai stars Bright and Win.

RAVI

Baekhyun

Win Metawin

Yōsuke Kubozuka

Rain

Gulf Kanawut

Alvin Chong

As for the Fall/Winter 2021 presentation? Held at Burberry’s famed Regent Street store in London, the collection was a show of all things nature. Inspired by the British craft and outdoor movement, the collection saw wildlife-inspired prints, re-worked iterations of the iconic Burberry trenchcoat, shearling backpacks and patchwork puffer jackets and shirts. The collection was brought together by its finer details. Think: boyscout-inspired badgets, bicycle shorts and thick, knitted hats. 

For a closer look at Tisci’s very first menswear-showing for Burberry, check out the video below: 

This article first appeared on L’Officiel Singapore.

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How to Identify Original Omega Watches

Everything from fake dials, slow hands to misspellings. The complete guide to help you identify an Omega watch.

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Spruce Your Space With These 10 Interior Trends for 2021

PALACE magazine’s roving eye spots 10 interior trends for 2021 to channel in your precious abode.

Colour Your Way
Pantone and Dulux colour of the year
You can rely on Pantone and Dulux to coordinate your home’s colour theme for 2021. Rather than speculating for what’s to come or to be deemed as “fads”, both brands have taken on the R&D teams to research, curate, and distill their own formula for colours in 2021. Pantone’s prediction is actually two colours – a cool grey (17-5104) and zingy yellow (13-0647) which work coherently.

According to Pantone executive director Leatrice Eiseman, this year’s double-dip gamble, “Different elements come together to express a message of strength and hopefulness that is both enduring and uplifting”. Grey is a classic neutral to complement the arresting yellow which projects optimism, life-giving warmth and creativity. Eisman adds, “The union of an enduring Ultimate Gray with the vibrant yellow Illuminating expresses a message of positivity supported by fortitude.”

On the other hand, Dulux’s “Brave Ground” is an earth beige hue reflecting the strength we can draw from nature because its earthy colour makes one feel grounded and in-tune with Mother Nature. While the world deals with the current pandemic, we can look to nature to draw inspiration. This warm hue as a stylistic neutral, as opposed to beige and white, can create a refreshing canvas to display your beloved objects.

On the other hand, Dulux’s “Brave Ground” is an earth beige hue reflecting the strength we can draw from nature because its earthy colour makes one feel grounded and in-tune with Mother Nature. While the world deals with the current pandemic, we can look to nature to draw inspiration. This warm hue as a stylistic neutral, as opposed to beige and white, can create a refreshing canvas to display your beloved objects.

Green-coloured kitchens
Kitchens need not appear masculine and drab as with how many homeowners might depict them to be. Green is the hot new hue to inject vim and energy to your kitchen space. From pale cool green to racing green, this accent colour can be executed tastefully especially paired with neturals such as white or grey.

Green is a fantastic way to inject nature in your kitchen space. Whether it’s mint or sage, or an arresting emerald or deep forest, green also adds depth and warmth to your beloved culinary zone. Green especially ties in well with wood elements from your cabinetry work.

Textured furniture
From doors to surfaces, flat fronts or even loose furniture, the textured furniture trend adds subtle drama to your space. Textures can range from ridges, grooves, flutes, chevrons, or even natural organic twists from wood grains.

These also create “movement” on their own while channelling character on their own. From wood-grain commodes to textured dining chairs created by artisanal tailoring, these accent pieces will definitely create conversations.

Nature-inspired furniture
Designers, decorators and architects are taking inspiration from the sinuous organic forms of Mother Nature. Whether they are flower or foliage prints, or the gnarled-appearance of wood grain on a commode’s door, these eye-catching elements are charming, ethereal and peaceful, conveying an atmosphere of the outside while you’re relaxing at home.

Moroso’s Josh sofa offers bold floral prints. Moroso available at Xtra Singapore.

Biophilic atmospheres
This trend is foremost about eco-responsibility which is part of the green-building trend utilising real plants within an interior context.

 

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The flourish of real foliage whether it is a vertical wall planter or dotting your spaced with boxed planters or troughs, is a nod to people’s nneed to be closer to nature. While taking the light and spatial context, biophilic design is also centered on health and wellness with net-zero carbon footprint in mind.

Cocooning armchairs
There can be no better way to rest and relax in a cocooning armchair. The enveloping form cradles our precious buttocks, locks us in for some “me-time” engagement.

Many cocooning armchairs offer headrest and butt-cradling side bolsters to soothe our weary muscles after a hard day’s work. The cocooning effect lures us to lounge or even woo us to nap in a foetal position.

Home gyms/wellness at home
Put the “wow” factor into your home with your very own personalised homegym. With the coronavirus raging on, working out at home is the new trends to stay safe. Individuals who are proud to showcase their penchant for fitness are no longer treating homegyms as an afterthought.

 

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Home workouts can also create zones for meditation and yoga, too, helping people unwind from stress. Best of all, everybody has their own workout routine so to step into your own homegym without commuting is a trump card.

Arched doorsways
From mirrors to entryways, ceiling and mantleplace, arches are making waves in interior design circles globally. The soft curves add a feminine touch while lending a masculine feel because of its sturdy design. An extended archway can also give an illusion that a room’s height is tall. Even a curved standalone mirror can add character and softness to a linear space.

 

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70s aesthetics
The charm of the 70s is being harked back in interior trends. But the new wave is a mix of boho chic with the disco vibe – think polished metal surfaces, glass globes, luxurious leather… galaxy ball, aka Studio 54.

Minotti channels 70s vogue with its latest 2020 collection, a time when glitzy disco feels put into a context of a posh home. Laidback and luxurious, there are tonnes of materials and textures to indulge in with the glint of brass or polished metal. So use your mojo and channel your 70s vibe into your space!

Japandi style
Fusing Japanese and Scandinavian aesthetic styles, Japandi is portmanteau of these two words. The rage of this current trend is about pulling the best minimalist ideas from two giant themes. Japanese style is centred around Zen, wood-based furniture, netural finishes with an ode to nature, or the “wabi-sabi” notion where imperfection is celebrated (i.e. think a rough, mishapen ceramic vase with a chip on the edge).

 

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However, Scandinavian style draws some similarities with pared-down aesthetics, light woods, handmade ceramics, soft colours/neutrals and artisanal designs. The keyword for this combination of two styles focuses on “sobriety” with a nod to streamlined furniture and minimal number of objects.

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Nerf Unveils Smaller Projectiles That Reloads Fast and Shoots Harder with the Hyper Line

The NERF Hyper Line boasts a great capacity-to-size ratio: it holds a max of 100 projectiles in a 25V round and shoots harder up to 110 fps.

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LEGO is teasing Porsche fans with this 2-in-1 911 Turbo/Targa Creator set

While the LEGO Creator Porsche 911 won’t match the Colosseum set's scale and number of bricks, it makes up for it with mechanical touches.

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L’oscar London is a Boutique Hotel And an Interior Haven

L’oscar London is a Boutique Hotel And an Interior Haven

Built in 1092, this London boutique hotel pays homage to Irish playwright Oscar Wilde (1854-1900) with its interior design. Located in Holborn and close to the city, this particular building was originally a Baptist church. It was only then recognised and refurbished by designer hotelier Duncan Shake­shaft and designer Jacques Garcia, who is known for his stylish Parisian hotel interiors.

With French architect’s creative vision, L’oscar is inspired by the lavishness and eccentricities of Victorian England with modern London twists. Peacock feather screens, lots of velvet, heavy expressions of blue and yellow, a seven-story chandelier that dips down over the building’s original 19th-century staircase from when it was a baptist church.

Embodying the theatrical spirit of this establishment, this is a perfect addition to London’s theater district. Garcia introduce a different layout in every room and there are 33 rooms in this building. Adhering to the colour scheme of either red, blue or yellow, the rooms are definitely a one of a kind. Bathrooms have his-and-hers sinks and toiletries laced with more perfume than the ground floor at Selfridges. In the top rooms, the rain showers can also be transformed into steam rooms at the touch of a button.

Expressing its flamboyant designs of arts and craft details of the Grade II listed building, such as ornate ceiling plasterwork, bedheads with feathers, stone fireplaces and wooden panelling, as well as Biblical references, Garcia went all out with his first London hotel.

Apart from its aesthetics, the boutique hotel delivers exceptional food and service. In a review, hotel staffs are dressed in shimmering copper outfit – complimenting its stunning interior. “Not ‘let-me-take-your-coat-using-my-fingertips-as-it-might-give-me-fleas’ friendly. Just joyously friendly, like you’re an old school friend. Service is also personalised, with every bedroom allocated a butler,” described a Telegraph reviewer. 

When it comes food, Oscar Wilde takes what he puts in his mouth very seriously. “I can’t stand people who do not take food seriously,” said Wilde, and executive chef Tony Fleming oversees what is put on the dining table at L’oscar. Offering all-day dining, be impressed by the Baptist Grill – serving British dishes with a unique spin. Breakfast is cooked to-order and there’s a wide selection of tea to try. All of what was mentioned for a price of £395 per night, including breakfast.

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