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est March 1, 2015
International Property News
Semi-naked girls covered in gold paint have starred in a raunchy commercial for the most expensive house in Beverly Hills.
Luxury firm, Hilton & Hyland, released a steamy trailer for the property – known simply as Opus and has an asking price of $100million – featuring stunning scantily-clad women.
To the Queen! The main character toast with her bedazzled guest as they showcase the luxurious view one can have while eating
The scent of fast money hovers over China’s Xiongan New Area, a special economic zone that’s attracting a stampede of dealmakers.
Among them is Xie Lanyou, who rushed to the area on an overnight train from his home town Chongqing, more than 1600 kilometres away.
A scarcity of properties coming up for sale means that estate agents are being left with an average of just 43 unsold homes on their books.
This is the lowest ever recorded number since records began at the Royal Institution of Chartered Surveyors in 1978. While the supply of homes for sale hits record lows, demand from buyers was equally ‘subdued’ last month, RICS said.
Dwindling supplies: Scarce supplies of properties coming up for sale mean estate agents are being left with an average of just 43 unsold homes on their books
A Colorado Real Estate firm owner has been arrested after he allegedly took videos and pictures up women’s skirts during open house events.
Patrick Finney, owner of FINN Real Estate in Denver, has been charged with five counts of invasion of privacy for sexual gratification, according to court documents.
- Life ON the poverty line: Shocking photos capture packed slums stacked next to lavish mansions and skyscrapers around the world
On one side of the fence lies rows of pristine houses trimmed with manicured lawns.
On the other, ramshackle slums stacked almost on top of one another where life could hardly be more different.
These scenes, captured in developing regions around the world, starkly illustrate the divide which exists between rich and poor.
In Mexico, ramshackle slums (left) sit shoulder-to-shoulder with the pristine homes of wealthier residents just over the fence (right) – seen in this photo, which has not been digitally modified
New photos have revealed the mundane truth behind the glitz and glamour of the once legendary Playboy Mansion after it sold for $100 million.
With its days of partying numbered, photographer Jeff Minton visited the five-acre property, in Los Angeles’ exclusive Holmby Hills which has played host to thousands of celebrities and beautiful women over the years.
A German fund has bought Facebook’s new London headquarters for £435m, in one of the biggest deals completed since June’s referendum.
Deka Immobilien bought the building, called Rathbone Square, from developer Great Portland Estates, allowing the UK-listed company to return a profit of £110m to its shareholders.
The deal is one of the largest investment transactions in the property market since the UK voted to leave the European Union. Photo / File
Inside the original Macintosh computer, Apple co-founder Steve Jobs inscribed the signatures of his team, revealing his deep concern for even the hidden features of his products.
His last work – Apple’s sprawling new headquarters in Cupertino, California – will be a fitting tribute: a futuristic campus built with astonishing attention to detail.
THIS is what a $US250 million ($326 million) mega mansion looks like.
Real estate developer Bruce Makowsky’s “eighth wonder of the world” in the exclusive Bel Air neighbourhood of Los Angeles is America’s most expensive home.
The handbag tycoon’s passion project is a four-level, 3530-square-metre mansion built on spec.
Developer Bruce Makowsky’s listed a Bel Air mansion for $US250 million. Picture: AP Photo/Jae C. Hong
A MILLIONAIRE who spent his childhood sleeping on park benches is giving away a free flat.
Marco Robinson, 48, is offering up the £120,000 — about $198,000 — fully-furnished and mortgage-free three-bedroom apartment to a suitable individual or family.
The lucky winner will be selected over the course of the next six weeks through a documentary Marco is making alongside the British public-service television broadcaster, Channel 4.
Rags to riches millionaire, Marco Robinson, is giving away a fully-furnished apartment for free in an incredible act of kindness to a struggling first homebuyer. Picture: SWNS/Mega
Tim Rodber and Matt Dawson sit easily in two office chairs in their headquarters on the South Bank in London, chatting about their property company, Instant. The firm has experienced rapid growth in the past four years, and the two men, along with the rest of the team, are clearly riding the crest of a wave.
A list of the 25 most expensive homes in America has been released, and the prices range from $78million to a staggering $250million.
This year’s most expensive lot blows previous prices out of the water, as the most expensive home listed in 2016 was a mere $150 million, but it did not sell.
The heftiest sale of a home went to none other than Hugh Hefner last year, who sold his Playboy Mansion to a neighbor for $100 million, on the condition that he be able to live there for the rest of his life, Architectural Digest reported. It was also the most expensive home sale in the history of the city of Los Angeles.
A US$90 billion ($123b) wave of maturing commercial mortgages, leftover debt from the 2007 lending boom, is laying bare the weak links in the U.S. real estate market.
The Transamerica Pyramid building (centre) stands in the skyline of downtown San Francisco. Photo / Bloomberg
Facebook CEO Mark Zuckerberg has gone to court to gain ownership of isolated pockets of land tucked away within his sprawling estate in Hawaii, many of which are less than an acre and could be split between hundreds of owners in a situation unique to the islands.
- The top 10 London property hotspots of the decade:Wapping leads the way with the biggest 10-year house price growth across the capital
- 2016 saw mega-deals in real estate, with mansions and residential apartments fetching nine-figure price tags
- The priciest property is a luxury residence in Hong Kong that sold for $270million
- On China’s mainland, the most expensive house ever sold is Taohuayuan, a breathtaking property in Suzhou
- One buyer spent $154million for the property, which is a 32-bedroom, 32-bath garden home
- For $87.7million, one buyer bought the penthouse in the largest residential skyscraper in the world – 432 Park Avenue in New York City
- Mansions in California and Texas also fetched price tags of $100million, among them the Playboy Mansion
Those lucky enough to have upwards of $90million (£74million) in the bank could have had a shot at the penthouse apartment at 432 Park Avenue in New York City (above)
- Donald Trump: Just the name is enough for Indian real estate
Commercial real estate is behind the times.
That might come as a surprise, especially since the industry is valued at $12.6 trillion. Thankfully, a growing community of tech startups is beginning to address common issues that plague the industry.
Jonathan Wasserstrum, SquareFoot
- The million dollar house where Albert Fish, the real-life Hannibal Lecter, ate 10-year-old Grace Budd
WARNING: Graphic and disturbing content
CANNIBAL and serial child killer Albert Fish chose the house for one of his most infamous crimes, the murder and consumption of 10-year-old Grace Budd.
Called Wisteria Cottage, it was empty when Fish picked it out ahead of selecting his next victim.
All I want for Christmas is… somewhere to live.
When 89-year-old Angie Tyma was evicted from her home right on Christmas, her neighbour came to her rescue in the most generous way – she bought the house and gave her neighbour the keys.
Florida woman Angie Tyma had lived in the house with her late husband for 35 years, Today reported. But the overseas owner ran into financial difficulties and needed to sell. The property was bought by an investment firm that forced Tyma out.
Douglas R Clifford/ZumaPress.com
Rita Fulciniti put a down payment on a new west-end condo, thinking that home ownership would bring her a little comfort and financial security in her retirement years. Instead, the 66-year-old is living in a homeless shelter, broke, and still chasing the Toronto real estate agent who borrowed her life savings.
Chaim Smilovici, who also goes by the name Howard Smilovici, borrowed $95,000 from Rita Fulciniti in June 2015, but says he didn’t pay her back before she was supposed to close her condo deal, as they had agreed. (Kabbalah Centre Toronto/Facebook)
- Leonardo DiCaprio sells his California home
- Fiji real estate agent says land laws costing jobs and investment
The landscaped lawns and flowering shrubs of Country Garden Holdings Co.’s huge property showroom in southern Malaysia end abruptly at a small wire fence. Beyond, a desert of dirt stretches into the distance, filled with cranes and piling towers that the Chinese developer is using to build a $100 billion city in the sea.
Project model on display at the Country Garden Forest City Sales Gallery in Johor Malaysia. Photo / Bloomberg
From a space-age caravan to a Lapland lake-dwelling, these holiday homes will satisfy your thirst for something a little wacky and wonderful.
Appealing to those with a sense of adventure, booking site Sawday’s Canopy & Stars reveals ten of its must-stay properties across the UK and Europe.
With prices starting at £77 per night for a five-bed rustic lodge in the southern French mountains, these properties are also perfect for those working on a budget. So which one of these gems takes your fancy?
- Estate agent, 28, accused of poisoning her property tycoon father
A property tycoon’s daughter accused by her half-brothers of poisoning their father is flying to Kenya to fight the ‘malicious’ claims that she murdered him.
Helen Veevers, 28, her sister Alexandra and her mother Azra Parvin Din have been accused of poisoning Harry Veevers, who died in Kenya in 2013.
Miss Veevers believes that her half-brothers Richard and Philip Veevers made the ‘false and malicious’ allegations to discredit her and lay claim to her father’s estate.
Helen Veevers, the daughter of a Rochdale property tycoon is flying to Kenya to fight ‘malicious’ claims that she murdered her father made by her half-brothers
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International Property News
These haunting photographs chart the steady decline of America’s poorest urban areas.
Shot by Chilean-born photographer Camilo Jose Vergara – who has spent four decades revisiting the same streets and buildings again and again – they document the metamorphosis of segregated neighbourhoods in cities like Detroit, Chicago and New Jersey.
Mr Vergara, who is based in New York, started photographing and talking to residents about the changing face of their communities in the early 1970s, and continues to this day.
One crafty female from China has performed the ultimate hustle to raise funds for a home deposit.
The scheme involved a lady convincing her 20 boyfriends to buy her 20 new iPhone 7s, which she then sold for enough money to put a down payment on a house.
Using the pseudonym Proud Qiaoba, a blogger gave a detailed description on how the hustle was performed by a colleague of hers, dubbed Xiaoli.
The scheme involved a lady convincing her 20 boyfriends to buy her 20 new iPhone 7s, which she then sold for enough money to put a down payment on a house. Photo / AP
- United Kingdom plans to make 100,000 pre-made homes to solve housing crisis
Earlier this year, Mr. and Mrs. Cai, a couple from Shanghai, decided to end their marriage.
The rationale wasn’t irreconcilable differences; rather, it was a property market bubble.
The pair, who operate a clothing shop, wanted to buy an apartment for 3.6 million yuan (NZ$745,007) adding to three places they already own. But the local government had begun, among other bubble-fighting measures, to limit purchases by existing property holders. So in February, the couple divorced.
China’s rising property prices this year have been inspiring such desperate measures, as frenzied buyers are seeking to act before further regulatory curbs are imposed. Photo / Bloomberg, Qilai Shen
- Fears China property bubble could cost banks $800 billion
China watchers are starting to put a price tag on what any collapse in the nation’s red-hot property market could cost banks.
A drop of 30 per cent in housing prices could cause 4 per cent of total bank loans worth 4.1 trillion yuan ($800 billion) to sour, according to DBS Vickers Hong Kong Ltd. Commerzbank AG said such a drop could trigger 4 trillion yuan in delinquencies. Pacific Investment Management Co. expects the non-performing loan ratio to peak at 6 per cent in the next few years from the current 1.75 per cent, amid risks from the property sector.
When land costs more than finished homes, you’re in dangerous territory, says Deutsche.Photo: Getty Images
While New Zealand debates the impact of foreign buyers on the ever surging property market, three Chinese cities have announced new restrictions on property purchases.
It comes as second- and third-tier cities across the country to try to cool soaring home prices stoked by property speculators.
A food delivery man rides past residential buildings in Zhengzhou (Reuters)
New video shot by a drone reveals Apple’s $5billion new headquarters is almost complete.
Construction on Apple Campus 2 – which was announced by late Apple founder Steve Jobs in 2006 and designed by architect Norman Foster – is currently underway in Cupertino, California.
Nearly ten years after Jobs revealed the tech giant had bought the land around a mile from the company’s existing facility at 1 Infinite Loop, his futuristic vision for the new campus is almost realized.
Staff will access to a 100,000 square foot fitness center (above) on the new Apple campus: PHOTO SOURCE: DAILYMAIL
- Mrs Doubtfire house in San Francisco comes on the market
Hillary Clinton is trying as hard as she can to move back into the White House in Washington.
But while she was prepping for the most watched debate ever the former US Secretary of State found time to purchase a smaller White House next door to her home in Chappaqua, New York.
US Presidential nominee Hillary Clinton has bought the white house next door to her in Chappaqua New York. Photo: Douglas Elliman Real Estate
- Chinese couples are lining to divorce amid rumours of ownership restrictions on couples
It appears love doesn’t conquer all in China, well not the property market anyway.
Pictures have emerged of Chinese residents queuing up to file for divorce in Nanjing province following rumours of a tightening of property buying regulations.
With residents worried about married couples having to pay a larger deposit and a limit on how many properties they can own, some have chosen to divorce so they can buy property as two singles instead.
According to the Eurasia Review it is the second time there has been a rush to divorce as residents fear married couples will be restricted in what they can own. Photo / Getty Images
- Harry Potter and the sale of the half-a-million pound house: Iconic ‘Privet Drive’ on the market in suburban Berkshire complete with cupboard under stairs for one magical boy
Its most recognised feature might be the cupboard under the stairs but househunters in Berkshire could own a magical property as the home of Harry Potter goes on the market.
Better known as 4 Privet Drive, the home in Martins Heron, Bracknell was the set for the Dursleys home in the first Harry Potter film.
The home used as 4 Privet Drive in Harry Potter and the Philosopher’s Stone is for sale in Bracknell for £475,000
Early Wednesday morning, Dean White, billionaire real estate and advertising magnate, died at age 93. At the time of his death he was among the fifteen oldest billionaires on the planet, and his $2.5 billion net worth made him the world’s 789th richest person. A representative from White Lodging, a company founded by White’s son Bruce, confirmed the death in a written statement provided Wednesday evening.
Dean White passed away Wednesday morning at age 93.
IT’S known as the Bubble Palace where its owner, fashion designer Pierre Cardin, has hosted the rich and famous since the early nineties.
Now it can be yours.
But just like the home looks like something from the space age, the price tag is also out of this world.
Fashion designer Pierre Cardin’s amazing “Bubble Palace’’ in the south of France. Picture: Christie’s International Real Estate.
In recent years, we have been seeing new kinds of brokerages that are investing lots of resources in improving the technology for their agents in order to achieve better experience for their clients and an edge in today’s market. Companies like Compass, TripleMint and Real are acquiring new agents and clients with this promise.
Luis D. Ortiz, Douglas Elliman
- Palatial new Trump hotel near the White House opens to divisive attention
When they moored their £225m yacht on the Thames last week jaws hit the floor. But for a Russian oligarch and his wife, who sleep with Monets by their bed, that’s just an ordinary day
When their £225 million superyacht cruised into London last week, Tower Bridge had to be raised to let it through. Andrey Melnichenko and his glamorous wife Aleksandr’s yatch (pictured with Aleksandr) is 390ft long and weighs 5,959 tons
- Vancouver’s property market slumps after new foreign buyers tax
- Real estate agent Marisa Seloff had sex in home she sold 24 hours earlier
Not looking so hot after being arrested … real estate agent Marisa Seloff and Joshua Leal. Picture: Friendswood Police Department
- This is the best time in history to invest in real estate
- The world’s most amazing homes
- Why Chinese Investment in Overseas Real Estate Has More Than Doubled
Chinese invested $16.1 billion in overseas real estate in the first half of the year, more than double the amount in the same period last year, real estate consultancy CBRE said on Thursday.
The United States remained the most popular globalproperty market for Chinese investors, while hotels and offices were the most sought after types of real estate, CBRE said in a statement.
(Photo by Zhang Peng/LightRocket via Getty Images)
- The property legacy of London 2012: Four years on, what’s it like to live in the Olympic village?
Legacy is a loaded word. And Rio will be hearing it a lot during and after the 2016 Games, which begin today amid much razzmatazz in the city’s Maracana stadium.
For London, four years on, it triggers heated debate, especially in and around the Olympic Park — now rebranded the Queen Elizabeth Olympic Park — where it’s sometimes hard to see the homes for the cranes.
Success: East Village in Stratford was the athletes’ quarters for the London Games
Every two years a city spends billions of dollars preparing for either the summer or winter Olympics building huge facilities very quickly.
But once the Olympic flame is extinguished some of these venues have no use and fall into disrepair, and many years later the results are quite spooky.
Some athletes have complained about accommodation and facilities at the upcoming Rio Olympics but whatever the faults they’re nicer than these abandoned Olympics buildings.
Swimmers train underneath the Olympic rings in the aquatics center before the 2016 Summer Olympics in Rio de Janeiro. Photo: Matt Slocum
An opulent French villa on the Côte d’Azur has been valued at £250million – putting it on course to be the most expensive home ever sold.
Villa Les Cedres is in Saint Jean Cap Ferrat, a refuge between Nice and Monaco for some of the world’s richest people, and known for its spectacular waterfront properties, high prices and private beaches.
Built in 1830, the villa was once the former holiday home of King Leopold II of Belgium. It was sold in 1924 to Alexandre Marnier Lapostolle, owner of the Grand Marnier liquor brand.
Villa Les Cedres is in Saint Jean Cap Ferrat, a refuge between Nice and Monaco for the world’s richest people
It was one of the modern architecture success stories of Grand Designs: the couple who transformed their life with a move out of the heart of London to the countryside, where they built a new home and flourishing brewery business.
Phil Palmer and his partner Michael Butcher appeared on Grand Designs in October 2013 with a bold design for a contemporary farm home just outside of Newbury in Berkshire.
PHOTO SOURCE: DAILY MAIL
- This could soon be the world’s most expensive home
A businessman in the UK who had declared bankruptcy has run into trouble after telling authorities that he had less than £500 ($A800) worth of possessions and was living in a shed. As it turns out, the shed was in fact a mansion in disguise.
The 61-year-old man, Alan Yeomans, had built a manor house out of a large barn in his mother’s backyard in Derbyshire in 2002 – without planning permission, and not visible from the road outside – and attempted to hide it with green cladding.
A former supermodel who was awarded a staggering £75 million from her Saudi billionaire ex husband could now have the settlement delayed after the terminally ill Sheikh died.
International businessman Sheikh Walid Juffali passed away in Zurich on Wednesday following a lengthy battle with cancer.
Earlier this month his ex-wife, former Pirelli calendar girl Christina Estrada, took the 61-year-old to the High Court where her fight for a share of his fortune became one of the highest-stakes divorce battles of its kind.
Christina Estrada (right) took her 61-year-old ex-husband Sheikh Walid Juffali (left) to the High Court where her fight for a share of his fortune became one of the highest-stakes divorce battles of its kind
An historic British mansion where Oliver Cromwell once stayed or a run-down Otahuhu property with a house requiring demolition – what would cost the most?
A seven-bedroom picturesque Grade II-listed Cambridgeshire house where the famous Roundhead once stayed during the English Civil War is for sale for only the second time in 300 years for £1.8 million.
With $4m to spend one of these properties would leave you with $500,000 left over to pay for a fancy ride-on lawnmower. Photo / Trade Me
China’s real estate sector grew faster than the overall economy in the second quarter as new home purchase restrictions in the biggest cities failed to deter buyers.
Economic output by real-estate brokers surged 8.8 per cent from a year earlier in the April-to-June period, while construction activities jumped 7.3 per cent, data from the National Bureau of Statistics showed on Saturday.
Shanghai has tightened criteria for some home buyers. Photo: Getty Images
Meet Taohuayuan, the 32-bedroom, 32-bathroom home sitting on an island in the middle of a misty lake in China. It’s currently listed for sale at a whopping $201 million – or one billion Chinese Yuan.
At that jaw-dropping price tag, it’s the most expensive home on the mainland, according to Mansion Global.
“It is so far the highest luxury listing we have in China,” Jim Hao vice chairman of Beijing Sotheby’s International Realty said.
Taohuayuan, on an island on the edge of Suzhou’s Dushu Lake, in China. Photo: Sotheby’s Realty
- America’s Richest Real Estate Family Doesn’t Want You To Know Who They Are
Once New York’s biggest landlord, Sol Goldman’s legacy lives on. You can see it in the city’s skyline (particularly over on Madison Avenue between 37th and 84th streets, large parts of which his heirs still own). Or go downtown to the courtroom and dig through thousands of pages of legal documents detailing the bitter battle between his wife, Lillian, and their four children over Sol’s estate after his 1987 death.
Sol Goldman, with his youngest daughter, Jane, in an undated photo taken before Sol passed away in 1987. Jane oversees the daily operations of the real estate company her father built. (Photo courtesy of the Goldman family)
Overseas property buyers are snapping up London property after the shock decision for the UK to leave the EU, even as domestic buyers, spooked by uncertainty, pull out.
Estate agents in the UK have been swamped with calls from Chinese, Middle Eastern, Italian and Spanish buyers looking for a bargain after the pound tumbled to more than 30-year lows, making the exchange rate very favourable for foreign buyers.
Wealthy families in Italy and France are looking at London property as a safe place for their money in case the Eurozone falls apart Corbis
Britain’s most popular homes this month have a clear theme that connects them: expense.
The most-viewed properties all have a price tag of more than £600,000 and most cost at least £1million, with the most expensive at almost £12million.
So what can you expect to see in a property valued at those sort of prices? Well there’s a new build in London costing £11,750,000 which has doors that are unlocked using fingerprints, and there’s a £3million Herfordshire home with the latest technology, such as an interactive games room with a golf simulator.
PHOTO SOURCE: DAILY MAIL
The US Federal Reserve has left its benchmark interest rate unchanged amid fresh doubts about the health of the U.S. job market and growing anxiety among investors that Britain might leave the European Union.
Federal Reserve Chair Janet Yellen. Photo / Getty Images
With an ever-expanding population but ever dwindling ground-space, it was only a matter of time before micro-homes hit Manhattan’s property market.
Carmel Place, located on Kips Bay’s East 27th Street, is the city’s first micro-unit development, with 55 studios ranging from 260 to 360 square feet.
Their unprecedented size called for several mayoral overrides, including a relaxation of the minimum unit size and the maximum number of units per building.
Source: Daily Mail
Westpac and ANZ will no longer lend to overseas-based buyers of New Zealand property – with other banks expected to follow the move to shut the door on foreign investors.
The restrictions follow moves by Australian banks to stop lending to foreign buyers of property.
Westpac New Zealand has announced that from today it will no longer lend to non-resident borrowers with overseas income.
The Reserve Bank today left the official cash rate at 2.25 per cent, with Governor Graeme Wheeler flagging rising house prices as a risk to the country’s financial stability. Photo / NZME
It may be hard to conceptualize, especially for first-time home buyers or those yet to embark on buying their first home, but 15 years ago, the real estate market was a different beast, information wise. When records used to be buried in file folders, it put buyers in a much different place than they are today, able to access detailed property records on their smartphones within minutes.
Daniel Acker | Bloomberg | Getty Images
Prospective home buyers tour a house for sale with their realtor in Machinaw, Illinois.
- Billionaire real estate developer, 78, hid his younger French girlfriend in Park Avenue apartment building he owned for TWO YEARS before telling his wife
The New York City billionaire developing the world’s tallest residential building hid his French girlfriend in a Park Avenue apartment for two years before leaving his wife of 57 years.
Harry Macklowe, told his wife Linda, 78, that he was leaving her and moving in with his girlfriend Patricia Landeau.
Macklowe, 78, moved in with Landeau, 60, who is president of the French Frends of the Israel Museum.
Sources tell the New York Post that Harry Macklowe told his wife Linda, both 78 last week that he was leaving her after 57 years of marriage. He then immediately moved in his new girlfriend Patricia Landeau, 60 (above)
- Self-sustaining eco village of 100 homes creates off-the-grid prototype
- Chinese investors getting more interested in Dubai’s real estate market
DUBAI: China’s current status as a global financial giant has not been achieved overnight but earned through consistent efforts.
The resultant rise in affluence has given wings to Chinese investors and encouraged them to flock to other countries in the hope of making savvy investments.
SOURCE: Arab News
Imagine a 1900-square-metre mansion on 8.7 hectares resembling an English manor, with eight bedrooms and 16 bathrooms. It’s also got an underground vault, waterslide, dog park, dog spa, two paw-washing stations and a treehouse with a 22-metre suspension bridge leading up to it.
Fieldhaven at 7 Country Oak Lane. Photo: Dana Green/7countryoaklane.com
PORT ANDRATX, MALLORCA, SPAIN
PRICE: $AUD $20,210,685
AN amazing designer villa with a total of seven bedrooms and seven bathrooms.
The newly-built designer villa is in the residential area of Camp de Mar and is close to golf courses, beaches and restaurants.
If you’ve always wanted to invest in real estate but don’t know where to start, “house hacking” may be your first step.
Simply put, here’s how to do it: buy a property with two, three or four units using similar favorable loan types that owner-occupants enjoy. Live in one unit and rent the rest. Learn the ropes for a while and stash any cash flow for repairs and reinvestment. Use the living expenses you save to move out and buy another property. Repeat.
Source: Scott Trench
House hacker Scott Trench, who bought a Denver duplex.
During the housing crisis, being a real estate agent was about as easy as being a swim instructor in the desert.
That is why so many agents left the business. In fact, membership in the National Association of Realtors went from 1.3 million during the boom years to slightly under 1 million in 2012. Now it is back to just more than 1.2 million, and many of the new members are millennials.
Daniel Acker | Bloomberg | Getty Images
A real estate agent opens the front door to potential home buyers in Washington, Ill.
From the windows of my suite at the Chicago Langham I can see large sheets of ice just about starting to thaw in the Chicago River.
Freezing cold temperatures may have engulfed the city at the peak of winter, but my welcome at the Langham could not have been warmer.
And as I stepped into my suite and looked around at my surroundings for the next couple of nights, I knew the cold wouldn’t bother me one bit. After all, I’m in the hotel voted the best in the US by TripAdvisor users.
Never mind the domineering (and slightly gaudy) Trump hotel located a stone’s throw away, the Langham, which opened in 2013, is the only hotel in the world set in a skyscraper designed by legendary modern architect Ludwig Mies van der Rohe – an absolute delight for the architecture geek in me.
It’s located on the lower floors of the IBM building, Mies van der Rohe’s final commission. The tower was declared an official landmark in 2008.
The centerpiece of the spa is a 67-foot swimming pool with its shimmering spotlights reflecting off the water from above and below
While rental prices in the Bay Area are as nightmarishly expensive as they’ve ever been, it’s getting noticeably harder to sell a mansion in Silicon Valley. In super-wealthy Palo Alto, where the median price for a home is $2.1 million, Silicon Valley mansions—those costing more than $5 million—lingered on the market for 16 days in April 2016, compared to 11 days in April 2015 and 10 days in April 2014, Bloomberg reports.
From The LIFE Images Collection/Getty Image
China may be in the middle of a growth slowdown, but its investors will find a way to keep pumping money into the United States over the next decade, according to a new report.
In fact, the deceleration of China’s economy may be one of the primary factors driving up investment in countries like the U.S., according to the study from the Asia Society and Rosen Consulting Group. Released on Monday, the report projected that Chinese direct investment “across existing U.S. commercial real estate assets and residential purchases” could hit at least $218 billion from 2016 through 2020 — and that’s excluding new development projects.
- Where Did the Term ‘Real Estate’ Come From?
China’s property prices may slip in the second half of 2017 if the overall economic growth rate keeps sliding, a prominent government think-tank said on Thursday.
“If macroeconomic growth continues to slide, property prices may once again fall overall in the second half of 2017,” the Chinese Academy of Social Sciences (CASS) said in its “blue book” report on China’s property market.
Buildings of a residential compound are seen in Zhengzhou, Henan Province, China, April 17, 2016.
In the recent wave of Chinese investors going global, it is remarkable how much goes into real estate and other businesses that have a large element of fixed assets. These investments reveal a lot about the forces driving the spread of Chinese capital
He’s gone from the Birdman to the burger man, so Michael Keaton could be excused for hamming it up a little as Ray Kroc, the man who turned a fast-food joint into the world’s biggest franchise. But in the first trailer for The Founder, released on Friday, Keaton mostly plays it straight, albeit with a side order of ruthless.
This is the story of the man who stumbled across a mini-franchise in the five-restaurant chain established by the McDonald brothers in California and ran with it – leaving its true founders for dead. Note the wry look on Keaton’s face in the final frame as he holds the business card with “Ray Kroc, Founder” written on it. He knows it’s a crock, but history, as they say, is written by the victors – especially in commerce.
Michael Keaton as McDonald’s founder, Ray Kroc.
The federal agency tasked with curbing money laundering has been stepping up its efforts to educate real estate agents about their obligations to monitor and report suspicious transactions, documents show.
The anti-money laundering watchdog put together a work book and a webinar for real estate agents, and last summer gave a presentation to the Canadian Real Estate Association, according to emails obtained by The Canadian Press through an access-to-information request.
DARREN CALABRESE / THE CANADIAN PRESS
The federal agency tasked with curbing money laundering has been stepping up its efforts to educate real estate agents about their obligations to monitor and report suspicious transactions.
A derelict Rarotonga resort – once linked to the Italian mafia and believed to be cursed – is up for sale.
Auckland-based Mirage Group put the abandoned beachfront property on the market this week.
The resort on the southern side of the island is well-known as the former site of a planned Sheraton Hotel.
A former Eugene property manager pleaded guilty Wednesday in federal court to swindling more than $3.5 million from property owners and investors.
Terry Shockley, owner and operator of now-defunct TS Property Management, was one of the largest landlords in the Eugene area. He’ll be sentenced in September, according to the U.S. Attorney’s Office.
Terry Shockley, a former Eugene property manager pleaded guilty April 6, 2016, in federal court to swindling more than $3.5 million from property owners and investors. (AP Photo/Paul Sakuma, File)
CAN you spot what’s wrong with this picture?
According to The Sun, a man posted a photo of a newly built home online, and the snap quickly went viral due to a serious design flaw.
Eagle-eyed Reddit users quickly spotted the mistake, which would have any homeowner pulling their hair out.
One commented: “They had one job.”
Now see if you can spot it.
- Iron ore rises 2.3pc amid China property sector revivalIron ore extended a gain toward $US60 a tonne as further signs of a recovery in China’s property market, coupled with policymakers’ plans to loosen margin-lending controls in equity trading, helped to improve sentiment.
Ore with 62 per cent content in Qingdao rose for a fourth day, increasing 2.3 per cent to $US58.82 a dry ton, according to Metal Bulletin. After dropping in January as concern about a global glut persisted, the commodity rallied 19 per cent last month. This quarter it’s up 35 per cent, with the advance also supported by a weaker US dollar and interruptions to supply.
China’s home prices climbed in the most cities since March 2014 after the government loosened curbs, according to data on Friday. Photo: Getty Images
- Robert Beecham, 65, punched the air in delight when the Camden council approved his lavish megabasement plans
- The extension to his £15million Primrose Hill mansion will be 200ft long – the equivalent of seven London buses
- It will include a bar, gym, pool, jacuzzi, cinema, Roman-style tepidarium, salt grotto and a room to store cigars
- Mr Beecham made his fortune selling Star Wars merchandise after receiving a product licence to do so in the 1970s
- See the latest news from London at www.dailymail.co.uk/london
The redevelopment of the £15million mansion includes the huge 200ft-long basement, the length of seven London buses.
MANHATTAN prosecutors are moving to seize the hundreds of thousands of dollars a drug kingpin’s wife made from selling their Harlem apartment — which she bought from the city for just $US250 ($330), court papers show.
Nicole Moultrie bought the apartment in 2004 for the nominal price as part of a city program that aimed to encourage homeownership for low- and middle-income city families. She sold it for an estimated $US430,000 ($562,860), prosecutors alleged in court filings this week.
Nicole Moultrie. Picture: Steven Hirsch
Can’t beat ’em, join ’em? That’s how traditional broker Ben Schachter is responding to the rise of 100 percent real estate companies.
Schachter is broker at Signature International Real Estate in Boca Raton, and he’s also an investor in Realty One America, a startup that uses the 100 percent model to recruit agents. In exchange for a $99 monthly fee and a $99 transaction fee, Realty One America lets agents keep the entire commission.
Schachter argues that agents are better served by a full-service business model, one that charges agents more but provides support. Signature International Real Estate’s offerings include training sessions with Mike Ferry, a nationally known sales coach.
- Save for your first home and a pension at the same time: Young savers handed up to £1,000 a year Budget bonus with new Lifetime Isa
- Save £4,000 a year and get a £1,000 bonus for a first home or retirement
- Lifetime Isa removes need to choose between saving for home or pension
- Those under-40 can open new saving and investing deal from April 2017
- Overall Isa limit hiked to £20,000 with Lifetime Isa falling within this
- Savers can put money into pensions and Lifetime Isas and get pension tax relief and new bonus
- Some industry experts are calling the Lifetime Isa a ‘Trojan horse’ for bringing in a Pension Isa for everyone – and ditching pension tax relief
- For more of the latest on the 2016 Budget visit www.dailymail.co.uk/budget
Even more help to buy: Young workers will no longer have to choose between saving for a home or retirement, with the new lifetime Isa
WHAT do you get when you join a C19th terracotta school house, a modern zinc covered townhouse and a Brooklyn accent? Why, a remarkable home of course.
A care home was left teetering on the edge of a sheer cliff face after tonnes of earth fell away in a landslide.
Elderly residents at the Cheval Roc Residential Home on Jersey woke up to the terrifying scene on Thursday last week, just days after they moved in.
The building was left inches from disaster after heavy rain, rough seas and 75mph winds battered the cliff face, causing land and mud to be swept away.
A 19 mile wall of razor wire and fencing has been erected along the the Greek-Macedonia border crossing as the country closed its gates to refugees hoping to make their way into the EU. Citing a similar policy by Serbia further north, Macedonia has not allowed anybody in for the past 24 hours – causing a bottleneck among those making their way through the Balkans. The decision led to extraordinary riots yesterday in which refugees smashed down a fence with a homemade battering ram and tear gas was fired by police. It also comes as new figures reveal the migrant crisis currently engulfing the region has worsened significantly from last year
Stunning footage captured by a drone has revealed the shocking decay of a once-thriving beach resort that has been transformed into a ghost town.
In its heyday, Varosha, a suburb of Famagusta, Cyprus, was a glamorous retreat that lured the rich and famous, including Elizabeth Taylor and Brigitte Bardot, thanks to its idyllic beach and modern amenities.
But it was abandoned by its 40,000 inhabitants after the Mediterranean island country was invaded by Turkish troops, who continue to occupy Varosha to this day, following a Greek Cypriot coup in 1974.
The former home of ‘Iron lady’ Margaret Thatcher, complete with a bomb-proof door, is now on the market for £30 million ($62 million).
Britain’s only female prime minister lived at No. 73 Chester Square in the swanky London suburb of Belgravia from 1991 until shortly before her death in 2013.
32 Chester Square in London is on the market for $62 million. Photo: Savills.
This sky pool is suspended between two towers, each 38 storeys high. Photo: Safdie Architects
A GIANT shopping mall in China designed as a replica of the Pentagon has been left virtually abandoned because the space is too expensive and too confusing.
The $US200 million ($287 million) Shanghai Pentagonal Mart, built in 2009, is bigger than the Virginia headquarters of the US Defense Department, sprawling across more than 70 acres.
But according to the BBC, it’s reportedly the largest vacant building in Shanghaiand despite the demand for retail space, has sky-high rent.
Image shows an aerial view of Shanghai Pentagonal Mart in Huinan Town of Pudong District on January 20, 2016 in Shanghai, China. Picture: ChinaFotoPress/ChinaFotoPress via Getty Images
England’s most expensive studio apartment may not be very big, but it is undeniably charming.
In London’s exclusive Knightsbridge neighbourhood the petite apartment has hit the market for £1.175 million ($2.4 million).
The UK’s most expensive studio flat could be yours, for $2.4 million. Photo: JLL
From France’s ‘Naked City’ Cap d’Agde to Gokarna’s Paradise beach, nothing stays under wraps at these gorgeous nude beaches. Just make sure you have enough sunscreen to go around.
- The Grade II listed house is in London’s hipster Spitalfields
- It has six bedrooms and is spread across five levels
- It has a grand piano, Aga and a taxidermy bear
- Tenants can pay as little as £200 a month if that’s all they can afford
Mr Hunt founded the multi-million pound business SpareRoom.co.uk more than a decade ago
- Man sentenced to life in jail after kidnapping and killing real estate agent he lured to fake house viewing
Global markets are facing a crisis and investors need to be very cautious, billionaire George Soros told an economic forum in Sri Lanka on Thursday.
China is struggling to find a new growth model and its currency devaluation is transferring problems to the rest of the world, Soros said in Colombo. A return to positive interest rates is a challenge for the developing world, he said, adding that the current environment has similarities to 2008.
“China has a major adjustment problem,” George Soros said. “I would say it amounts to a crisis.” Photo: New York Times
After defeating an expert in Japanese chess, this computer program’s next task is to figure out if you can make the payments on a new mortgage.
Heroz Inc., a small Japanese start-up whose engineers designed computer systems that were the first to defeat an active professional player of shogi, the Japanese version of chess, says it’s now working on adapting its applications for the financial industry.
Heroz Inc is hoping its computer can recreate human judgment and be applied to the crunching of data for banks when they decide whether customers are credit-worthy. Photo / iStock
- Is this the start of the New Zealand Property Crash? Global stocks tumble amid fears around China and tensions in the Middle East
• Wall Street starts new year with sharp dive
• Troubles in China’s manufacturing industry sparks fears
• Tensions in Middle East also making investors nervous
• FTSE suffers worst stock market start in 16 years
Trading floors began the new year in a state of chaos as weak economic data from China and heightened tension in the Middle East wreaked havoc on financial markets worldwide.
A TV displays financial news at the New York Stock Exchange as stocks tumble. Photo / Getty Images
PATRICE Washington found herself $US2million ($A2.74 million) in debt in 2007 as the American subprime mortgage market started to crumble.
Her real estate company was on the brink of collapse, her new baby daughter had arrived accompanied with a $US400,000 hospital bill, and she and her husband were in a state of financial despair.
Now entering 2016, the 34-year-old, who has recreated herself as a financial expert and author, makes $US300,000 a year and couldn’t be happier about her new-found success.
Source:New York Post
- London’s cheapest flat slammed as ‘depressing’
FEELING like you’re a bit short of space?
Well you might feel a bit better after reading this.
Dubbed “London’s cheapest flat” this tiny dog box will make everywhere you’ve ever lived feel big.
London’s cheapest flat is 7.8sq m. Picture: Zoopla
JAPAN: Central bank has options
A 61-year-old man on Thursday mistook a real estate agent for a burglar and held him at gunpoint until officers arrived at a home the man was selling on Helican Springs Road, Athens-Clarke County police said.
Outraged neighbours call it “the Starship Enterprise,” and in truth it looks like nothing so much as an earthbound space station of curved glass and steel, draped in scaffolding and tarpaulin, roughly 2780 square metres and nearly 21 metres high.
The under-construction property at 901 Strada Vecchia, owned by a shell company . Photo: New York Times
The US Federal Reserve has just lifted rates, ending seven years of an extraordinary measure to combat the damage from the 2008 financial crisis.
Fed officials voted unanimously to raise the key federal funds rate – the interest banks charge each other overnight – to a range of 0.25 per cent to 0.5 per cent, up from near-zero for the first time since December 2008.
It’s time to make up a bunch of awards and hand them out to the most deserving people, places and things in the real estate, architecture and neighborhood universes of New York City! Yep, it’s time for the 12th Annual Curbed Awards! Up now: the biggest celebrity real estate moves of the year.
The biggest innovation in real estate investing is a marriage between crowdfunding platforms like Kickstarter and real estate tycoons a la Donald Trump. Real estate crowdfunding websites like Realty Mogul and RealtyShares pool money from wannabe magnates to buy portions of commercial properties the way you would stock on the stock market. Likewise, they offer developers a new funding source for their projects.
Ben Miller is the CEO and co-founder of Fundrise, a real estate crowdfunding platform that launched new eREIT. (Fundrise)
The most expensive street in the country has been unveiled as Victoria Road, in Kensington, where the average house price is an astonishing £8million.
The road – which is full of glamorous period properties and home to several American and French financiers – is located in the centre of London, within a few minutes of both Kensington Palace and the Royal Albert Hall – an area where homes can sell for much more than the £8million average.
Billionaires’ row: Victoria Road in the London borough of Kensington and Chelsea, where the average property price is more than £8m
A major urban renewal project on an old Renault factory site is transforming 74 hectares in Greater Paris.
Tetrarc has designed four plots of white buildings, with clean, sharp lines, that resemble the large, seven-storey mansions built by Baron Haussmann in the mid 1800s.
- Want to live between the Beckhams and Simon Cowell? It will cost you £7m! Stunning apartment in London’s ‘golden postcode’ goes on sale
If you fancy catching a glimpse of David Beckham as you set off on your morning commute or having the opportunity to invite Sir Elton John over for a cuppa, a new property that’s just come onto the market could be just the ticket.
A stunning apartment with dazzling interiors and A-list neighbours in London’s ‘golden postcode’ is up for sale – but living next to Simon Cowell and co will set you back £7m
The title of world’s tallest building looks set to be snatched from Dubai’s Burj Khalifa by Saudi Arabia’s Jeddah Tower, now that funding for the last phase of its $US1.2 billion ($NZ1.8) development has been secured.
Once the final, cloud-piercing reaches of the needle are built in 2020, achieving the planned height of 3,280 ft (1000 metres), the tower can claim the record.
Turkey has topped a global ranking of countries by growth in property prices, having recorded an 18.9% annual increase, according to the UK estate agency Knight Frank.
Foreign investment, an expanding population and a slowdown in construction were behind the upward pressure on property prices in Turkey, Knight Frank said. Credit: Shutterstock
- House prices in London could slam into reverse, warns Nationwide boss, describing market as ‘unsustainable’
The boss of Britain’s biggest building society has warned that house prices in London could slam into reverse, describing the market as ‘unsustainable’.
Want a new home? How about buying an entire town?
A US ghost town, complete with its own watering hole, is on sale for US$250,000 (NZ$375,000).
The 2.5-hectare town of Swett includes a tavern, three-bedroom house and a former tyre shop about 160km southeast of Rapid City, South Dakota.
Karen Xu, a Shanghai resident looking to invest in U.S. real estate, decided this spring to seek a Miami one-bedroom condominium in the $500,000-to-$750,000 price range.
China’s economic slowdown has since changed her mind. “I don’t think I’ll be investing in the U.S. right now,” said Ms. Xu, who works at an investment consulting firm. “Maybe I’ll wait another five years, or invest in China.”
PHOTO: KEVIN HAGEN FOR THE WALL STREET JOURNAL
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