Luxury Real Estate Blog and News
Beijing property prices predicted to be steady in 2010February 22, 2010 - Beijing
Residential property prices in Beijing are expected to maintain a steady course during 2010 and the city’s mayor has promised not to use administrative measures to intervene in the market. Mayor Guo Jinlong is in favour of letting the real estate market find its own price levels and said the city would not introduce administrative measures to push down property prices. The pledge is the first of its kind by a mainland China city mayor and reflects the dilemma facing local and city governments when it came to the issue of curbing demand for property, agents said.
BALI a lingering cultural paradiseFebruary 13, 2010 - Bali
Breathtaking beaches, tangled green jungles, river valleys oozing mist, shades of emerald green stepping up rice paddy terraces – Bali epitomises the natural beauty of Asia. Proud of their natural heritage, the Balinese are gentle guardians of the land and sea, adding their own harmonious mix of traditions, marked by festivals, celebrations and daily rituals. Their steadfast attachment to cultural and religious rituals stand out in the modern world, and attract visitors who lap up the visual, atmospheric and cultural harmony.
Tax in MongoliaFebruary 04, 2010 - Mongolia
How favorable are the taxes on investors and foreigners in Mongolia? Ever since 2006 the tax environment has become a lot more favorable. Until 2006, income was taxed on a sliding scale. If your income was less than 2,400,000 tugrug annually, (roughly $1655 by today’s exchange rates) only a tax of 10% was incurred. This tax quickly exceeded 30% if the tax payer made in excess of 4,800,000 tugrug annually, or $3,310 per year. On top of that, any temporary or non-resident tax payer would be expected to pay an additional 20% per year.
Singapore Home Prices to Lag Behind Hong Kong on Building BoomFebruary 03, 2010 - Singapore
A bungalow on Singapore’s Ocean Drive, a stretch of luxury homes lined with Bentleys and Ferraris, sold for a record S$30 million ($21 million) in October.
New property tax for EgyptJanuary 27, 2010 - Egypt
The new property tax law in Egypt is likely to be introduced gradually, the country’s president has confirmed. President Mubarak said there are no plans to change the tax which is facing considerable opposition from those that claim it will be too much for a recovering real estate market as it will make owning property more expensive. A government spokesman said that the property tax will not be a huge financial burden on real estate owners.
Buying in the United StatesJanuary 24, 2010 - United States
1 A foreign investor may purchase real property within the United States in a variety of ways: in his or her own name; through a US corporation, partnership, or trust; or through a foreign legal entity. 2 The income and estate tax consequences of owning or selling property will vary depending on the vehicle through which the actual investment is made. 3 Legal fees and other costs are likely to be around 2 per cent of the price of the property. ...
Paris next up for real estate investmentJanuary 23, 2010 - Paris Ile de France
With international real estate investors from all sides currently trying to invest in London property, Paris will be the next market in focus, with Germany not far behind, says Giles Wilcox, director of cross-border investment at international realtor Savills. "The UK has been very active in recent months, and we have been inundated with internationals wanting to come into the market from every country you can think of… However Paris will be in focus over the next 12 months, though pricing is nonetheless still an issue there” Wilcox told Globest.
Singapore SwingJanuary 22, 2010 - Singapore
Sudden moves in property prices used to be rare in the staid real estate market of Singapore, but since early 2008, the city has seen a sudden surge in interest in private property. The Lion City is starting to show some of the same kind of volatility and speculative interest that has long been a feature in Asia’s other citystate, Hong Kong. The number of new sales in high-end residential real estate crossed the 1,000-apartment barrier in the second quarter of this year.
4-year depression estimated for India real estateJanuary 21, 2010 - India
Despite a growing economy, the Indian real estate market faces a long list of challenges. A lack of mortgage financing, low rental yields, and stalled development projects are just some of the reasons researchers estimate a four-year depression in housing. Indian house prices rose rapidly from 2002 to 2007. Strong economic growth and urbanisation supported house prices, while in city centres a housing bubble was encouraged by inadequate infrastructure, lack of planning and antiquated land use laws. House prices in big Indian cities continued to fall during the first quarter of 2009, having begun to slide in 2008.
Set in StoneJanuary 19, 2010 - Seychelles
The remarkable natural beauty of this island in the Seychelles has inspired an equally striking architectural experiment, where residences blend into a Jurassic landscape. Located northwest of Madagascar off the east coast of Africa, the Seychelles archipelago dates back more than 100 million years, when the Gondwnaland super-continent broke apart, leaving a sprinkling of islands jutting out of the western Indian Ocean. Pristine beaches, chlorophyll-rich forests and towering granite mountains comprise the area, which was first discovered by Arab explorers in the 9th century.