N
o matter how well-resourced or connected you are, sometimes you need expert advice from a specialist who's been in the game for years. Robb Report has tapped into its network of world-class professionals to answer your most pressing questions. This month, we're featuring Edward de Mallet Morgan, a super-prime agent with unparalleled expertise in luxury real estate.

    Have a conundrum you need solved? Email [email protected].

    Name: Edward de Mallet Morgan

    Occupation: Head of super-prime sales, Estate Prestige Knight Frank

    HQ: Côte d’Azur, France

    Specialty: Off-market, seven-figure-plus piles

    The Big Question:

    I have a large extended family and want to invest in a vacation home on the Amalfi Coast or Cap d'Antibes. We need something with plenty of space for all of us to spend holidays together, but I'm struggling to find anything suitable.

    "If you're looking for a 15- or 20-bedroom site right on the sea," de Mallet Morgan suggests, "the answer is to buy a hotel." Many prime resort areas have large parcels that started as private villas but were converted into hotels. Clients often opt to continue operating them as businesses, welcoming guests for part of the year and reserving peak summer for their family.

    "It's not about the income," de Mallet Morgan notes. "It's like owning a boat over 50 meters – it's used commercially." He also warns that smaller jurisdictions can be slow to grant building permits, and even if you buy adjoining plots, clearing them to build a single-family home may be impossible due to red tape.

    For ultra-high-net-worth clients with budgets of $100 million or more, de Mallet Morgan recommends thinking bigger: "I suggest spending $1 billion and buying a hotel. It's a conversation that might seem extreme at first, but it makes financial sense." However, be aware of the legal and tax implications of long-term stays in a given jurisdiction.

    Speed Round:

    Where is no one buying but should be?

    "Kitzbühel – Europeans know about it due to the Hahnenkamm, but it still has that fashionable edge without being too commercial."

    Italy's new UHNW-friendly tax-residency scheme – worth it?

    "It looks attractive, even with the increased lump-sum amount. However, many people are hesitant due to the planning and restoration required for a long-term stay."

    Best place to buy a private island?

    "The Bahamas – mesmerizingly beautiful, with islands of all shapes and sizes, yet still an hour's flight from mainland USA."

    Best household-service provider?

    "Webster Hart, a top property-management company that started in the UK. They're make-it-work kind of people who are incredibly discreet, professional, and transparent."

    Should I insist on references from a buyer?

    "If they throw a fit at being asked, 99 percent of the time they don't have the money."