It is a well rehearsed fact that, since the downturn, the rich are getting richer. According to a recent report by Merrill Lynch and Capgemini, the number of millionaires across the globe grew by 8.3 per cent to 10.9m in 2010. The total wealth of these individuals rose to $42,700bn, up from $40,700bn in 2007.
Vastu is the new feng shui – or, rather, the old one, given that some say the former inspired the latter.
… around 40 per cent of the world’s most expensive real estate is bought by Asian buyers for whom the “energy” of a house can be important – and vastu is already impacting on non-Asian design.
We were delighted to be interviewed for a recent radio programme on “The Voice of Russia” about why and where Russia’s billionaires are buying property.
LONDON: In a district in north-west London that is a favourite nesting ground for bankers from all over the world, a premium housing project suddenly found itself making distress sales after the recession. They sold one flat to an Indian.
Luxury-home prices in central London rose at the fastest pace in a year in May as the pound’s weakness encouraged overseas buyers to compete for a declining number of properties for sale, Knight Frank LLP said.
LONDON — It’s not usually until summer is in full swing that wealthy Arabs descend upon London, but this year, along with the unusually warm weather, the rich have come early. As the Arab spring sweeps across the region, Middle Easterners seeking refuge for their cash are snapping up million-pound properties in the British capital.
Louise Beale interviews Camilla Dell for Bloomberg News, reporting on the use of buying agents to secure homes in the central London residential property market, where demand outstrips supply.
The number of nationalities buying property in London has risen by two-thirds since 2008. The pound’s weakness enabled buyers from 51 nations to buy property in the British capital in June. Chinese and Vietnamese are among the new investors.
The election could bring house sales to a halt at what is traditionally the busiest time of year. Graham Norwood offers tips for sellers and finds bargains for buyers.
LONDON — A three-bedroom, 2,300-square-foot apartment recently went on the market in London’s fashionable Eaton Square and an Italian buyer immediately snapped it up for £5.65 million — a surprisingly quick sale in what has been a flat market.
Sit tight: prices aren’t likely to rise any time soon, although not all of us will fare badly. Graham Norwood predicts the winners and losers of the year ahead.
Britain’s curb on banking bonuses may stunt the recovery in London’s luxury-housing market by wiping out the windfalls that let buyers afford big mortgages, according to property brokers Knight Frank LLP and Savills Plc.
