FIGURES
The cost of elite residential real estate in the world soared in 2014 by 2%. Many European cities were limited to minor changes. Cities that stand out from the list in 2014 were Istanbul (+15%), Dublin (+13.4%), Amsterdam (10%) and Berlin (9%).
An unknown buyer paid £4 million for the Hillwood House in Edinburgh, owned by MacKinnon clan who produced Drambuie whiskey. It has been sold for a record sum in the property market in Scotland after the financial crisis.
2.2 million people will move to Istanbul in the next 8 years, bringing its population to 16.6 million people. This is a positive trend for buyers. First, searching tenants will be easy, and secondly, most likely it will be possible to re-sell the apartment with profit. The price review of Istanbul – on ee24.com.
The biggest deal in Munich for the past 17 years. A company of Kildare Partners brokered by JLL as a consultant has sold the Le Méridien Hotel in the center of Munich for €158 million. The acquirer was a German investment fund DEKA l.
TRENDS
Russian oligarchs grasped at student housing in London. Billionaire Mikhail Fridman acquired a student accommodation that is home to London's Central School of Ballet. In student elite real estate in the UK capital are also interested Fridman’s partners – German Khan and Alexei Kuzmichev, who are not the last people in the Forbes list.
German experts advise to move from expensive centers in cheaper suburbs. In 2015 demand will shift towards the outskirts of Berlin, where housing is not as expensive as in the center (over €5,000 per sq.m in Mitte – is impossible for many people). In the German capital someone can buy for €1m a large flat in the center or 30 small apartments in suburbs.
CELEBRITY
Paul McCartney's childhood home was sold for £150,000. An anonymous buyer purchased the townhouse in Liverpool, where a little Paul McCartney lived in 1947-1953, at the auction in the legendary Cavern Club.
RESIDENCE PERMIT FOR INVESTMENT
The Russians and the Chinese were the main applicants for UK investor visa – a residence permit for £1+ million investment. In 2014, there were 703 applications, including 309 from China, and 162 from Russia. The price for the British investor residence permit doubled in late 2014.
QUOTE
"Here in the Czech Republic we still see crisis results. It took whole 5 years to stabilize the demand, and only in 2013, sales of new apartments in Prague restored to the level of 2007. And in this year, are expected more than 5,000 transactions. Unfortunately, in 2015, will be founded less new buildings, which coupled with cheap mortgage will cause prices increase by 4-5%."
Pavel Malyshev, Director of Preco Group s.r.o. (Czech Republic)
PHOTO OF THE DAY
Housing for people, not pigs. Straw townhouses – on sale! The project in Bristol by the Bath University and the architectural firm of Modcell shows the straw houses for people, not for pigs. An electricity bills can be reduced by 90%.
INFOGRAPHIC
