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by Overseas Property Mall on Saturday, April 18th, 2009 in Commercial Property, Moscow Property, Overseas Property Trends, Predictions, Russia Property
Moscow investors and banks are playing a deadly game of Russian roulette in a stand-off to see who flinches first as the city’s once booming property market falls to ruins around them.
Billions of roubles are tied up in commercial and residential property portfolios.
Homes, offices and shops are standing empty as rents are unaffordable, new build projects are being cancelled, investors can’t refinance and the banks are sitting on a pile of yet to be realised toxic debt.
by OP-Mall on Tuesday, February 24th, 2009 in Billionaire Homes, Buying Property, London Property, Luxury Property, Monaco Property, Moscow Property, Mumbai Property, New York Property, Property in Paris, Rome Property, Singapore Property, Tokyo Property
Provided you have the spare cash-flow and fancy a spot of sea change, then you might like to invest into a second home somewhere more exciting and away from home. But with investment usually comes cost and lifestyle change and we wonder, if it is really worth it?
Only those who have taken the plunge know this with certainty, for all others you can dream on by looking at the world’s most expensive cities to own a home. Compiled by the guys from Global Property Guide.
by OP-Mall on Wednesday, June 4th, 2008 in Indian Property, International Real Estate Trends, Japan Property, Moscow Property, Research, Singapore Property, Vietnam Property
Global economies have been harshly affected by three major factors; soaring food prices all over the world, the disruption in the financial and credit card markets within North America and the massive increase in energy prices for net consumers.
Despite all the impact these events have had on the global economy, the U.S. posted a 0.6% annualized rate of GDP growth in the first quarter this year. Naturally, all these factors affect the office market worldwide. CB Richard Ellis has released their latest report of Global Market Rents that indicates office rents and occupancy costs worldwide. Like last year, London’s East End is topping the list once again for being the most expensive markets.
by Overseas Property Mall on Friday, December 28th, 2007 in International Properties for Sale | Real Estate Listings, Moscow Property, New Development Alert
Eat your heart out Dubai! So you think you can build a big building? Moscow is sending a message to the world with preliminary planning permission having just been granted to build the World’s largest building.
Crystal Island will cover a staggering 2,670,000 square meters, stand 450 meters tall and will cost an estimated $4 billion.
The tower, designed by renowned British architects Foster + Partners, will be multi use containing 3000 hotel rooms, 900 serviced apartments, a business centre, office spaces, a sports centre, entertainment centre and shopping mall as well as an international clown school, restaurants and cafes. Visitor numbers are expected to be high and there is a planned 16,500 space car park to accommodate them.
According to the designers: “The building’s spiraling form emerges majestically from a newly landscaped park, rising in converse directions to form a diagonal grid. This distinctive geometry extends throughout the project into the park. The result is that the scheme is seamlessly integrated into a new park landscape, which provides a range of activities throughout the year, including cross country skiing and ice skating in the winter.
by Overseas Property Mall on Monday, December 24th, 2007 in Condominiums, French Property, Hong Kong Property, Italy Property, Japan Property, London Property, Moscow Property, New York Property
Price per square foot can be an interesting approach to pricing real estate and we though it would be interesting to compare luxury condominium prices around the world to other types of space for sale. How much space in a luxury condominium would you get for £100,000? These prices are based on Knight Frank’s annual wealth report 2007 and may have changed slightly since then. These are the top ten contenders.
London currently tops the list. £100,000 buys you 43.5 square feet. Coincidentally, this is exactly the same footprint as the Ford Escape, an American SUV. So you can rest assured you will be able to park the car at this price.
by Overseas Property Mall on Friday, August 3rd, 2007 in Moscow Property, Russia Property
Victoria Park Apartments Moscow[Photo credits to Miraluz06 on Flickr]
Moscow News has published an interesting snapshot of Moscow’s residential property market, both the for sale and for rent. The key observation seems to be that letting agencies are assuming an increasingly important role in the rental market and that the higher end of the market is becoming proportionately more important. The vital ingredient that agencies bring to the process is ensuring that all the properties on their books are available with legally binding rental agreements. Going down this route has the obvious advantages of protecting the unwary foreigner from abrupt evictions or rent rises.
There’s no disputing that Moscow is an expensive place to live. The Mercer cost of living survey in this spring placed the city in top place with a cost of living that was over a third higher than New York City’s. Naturally, costs of accommodation are an important feature of this and at the beginning of the year Moscow was sixth most expensive European capital in terms of purchase costs and fifth highest in terms of rental and rental yield. Renaissance Capital estimate that Moscow’s residential property prices have averaged a 90% rise in the 12 months to 2nd Quarter 2007 and forecasts that the rises will continue, all-be-it at the more sedate level of 16 to 11% a year through 2007 and the succeeding three years (read report here (pdf)). However, the latest statistics taken from Global Property Guide: suggest that by May this year rental yields were on the way down, from above 8% to between 4.5 and 6%. Rentals have been failing to keep up with purchase prices, particularly at the higher end of the market. One reason for this is the competitiveness of mortgage rates. Low interest rates should fuel the rise in residential prices.*
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