Thursday, June 26, 2014

The price of housing in Ireland rises 10.6 percent in a year

The price of housing in the Republic of Ireland rose 2.3 percent in May from the previous month, so the increase in the year was 10.6 percent, reported today the Central Statistics Office (CSO) .

The increase between the months of May 2013 and 2014 confirms the recovery of the price of housing in Ireland, which had fallen 1.1 percent over the same period last year, although the recovery is recorded mainly in Dublin .

Housing prices rose 2.3 percent last month compared to April, compared to the monthly increase of 0.3 percent in May 2013, in line with the recovery of one of the sectors hardest hit by the outbreak of the housing bubble in 2008.

The collapse of the sector then dragged the Irish banks, which led to the Dublin government to rescue and take on a debt that forced him in 2010 to ransom the European Union (EU) and the IMF to 85,000 million euros, program help to quit last December.

According to the CSO, housing prices in Dublin rose 4.2 percent in May compared to April, while the annual increase was 22 percent.

In the Irish capital houses became more expensive by 4.4 in the month and 22.4 percent for the year, compared with increases of 1.9 and 19.5 percent, respectively, the price of apartments.

The CSO said that the "sub-indices" for the apartment market are made ​​from "the observation of reduced volumes" transaction and therefore subject to a "more volatile" price.

In the rest of Ireland, house prices rose 0.6 percent in May and the annual increase was only 1.8 percent, confirming that the sector's recovery progresses at two different speeds.

Houses and apartments in Dublin are now 44.4 and 53.4 percent, respectively, cheaper than in February 2007, when the sector reached its highest point, to experience a combined decrease of 46.3 percent.

Outside the capital, the price of houses and apartments combined is 47 percent lower and cheaper in Ireland is 45.1 percent.

Monday, June 23, 2014

Rise luxury condominiums in Miami

Gil Dezer, a developer of Miami, five years ago had 850 unsold condominiums and nearly $ 500 million in loans coming due at a time when credit markets were frozen and buyers disappeared.

Today, he is back on the market with what it considers a safe bet: a project of 132 units luxury car enthusiast called the Porsche Design Tower. The units of the 60-story building, with an elevator that transports cars directly to homes, ranging from $ 4.5 million up to 32.5 million for a four-story penthouse 600 thousand square meters.

While they are still building the foundation of the tower located on the seafront, 113 of the 132 units are already sold. All buyers gave 30 percent deposit cash funds that seminal Dezer counted to determine the level of interest generated by the project.

"We set rephrase things and point to a purchaser that is not as sensitive in economic terms," ​​said Dezer, whose former condos started from the $ 900,000.

After the real estate market collapse left Miami with more than 25,000 unsold condos in 2008, developers have returned, and this time differently.

At a time when credit is scarce and construction is the memory of speculators who disappeared when the mortgage financing dried up, construction projects funded with cash payment commitments by buyers of up to 60 percent of the price Cart.

The strategy has begun luxury towers reaching record prices and attract investors as the chief executive officer of Goldman Sachs Group Inc., Lloyd Blankfein, and Leon Black, founder of Apollo Global Management LLC.


Developers units equipped with additional features such as perimeter balconies overlooking the Atlantic Ocean, wine cellars cigar.

"People started asking for larger units and more services, and the price went up a lot," said William PD Pierce, an operator in Miami Beach Coldwell Banker.

Pierce last year found the buyer for a penthouse in Ian Schrager's Residences in Miami Beach Edition. The contract for the triplex of 524 thousand square meters is 34 million, which makes it more expensive operation in Miami.

It is estimated that at least four units that exceed the market price. The most expensive penthouse, which has not been built in Mansions at Acqualina in Sunny Isles Beach-sells for $ 55 million, Pierce said.

There are 21 thousand 430 proposed or under construction around the price level in Miami-Dade County condos, from downtown Miami to the coastal route A1A from Sunny Isles to South Beach, according, analyzing developments in the South Florida.

Friday, June 20, 2014

Subsidies in downtown Houston could affect the property market, say experts

The downtown and Midtown are separated by a highway, but in some respects, are worlds apart.

Midtown's population is about 9,000 inhabitants, nearly double what it had in 2000. Much of its growth has occurred in the past decade, when the area became a favorite urban planners neighborhood of apartment buildings and townhouses.

Meanwhile, downtown growth has not been as robust. In 2000, officials projected that the downtown residential population of 3,000 people then, would triple in 2010. Yet only about 3,600 residents living in the area into lots and remodeled homes in the shadow of skyscrapers that are home to a workforce 150,000 workers.

However, planners are again challenging the idea that the downtown can not be a place where more people live. Some are prepared to build thousands of luxury apartment buildings through a grant program recently expanded to $ 15,000 per unit to help offset the high cost of construction in a congested business district.

Although builders are eager to increase the number of homes in the downtown, the demand for the proposed units, which are expensive, are not insured. Even if you bought new buildings, there may not be the number of restaurants, shops and other businesses to provide services.

"In every city where there are numerous retailers live tens, if not hundreds, of thousands of people," said Ed Page, UCR signature Houston, dedicated to real estate and specializes in retail.

Growth Midtown

Another reason I have not opened more stores in the downtown is because there are many in the surrounding neighborhoods, according to Page.

For example, Midtown has pharmacies and supermarkets, as well as a lot of restaurants and bars.

Just south of Interstate 45, from the downtown, the old ruined area began a process of redevelopment after the city created in the mid-1990s with an area reinvestment tax increase that tax money funneled into the improving public infrastructure.

That reinvestment zone not offer the same type of residential incentive planners providing downtown.

For years, officials have tried to attract retailers with financial incentives. Although they have had some success, the overall trend is declining.

In the past three decades, the spaces for retail stores downtown have dropped 60 percent, according to a report released last fall by a group report that Mayor Annise Parker appointed following the decision of Macy's to close its store Main Street.

The report includes recommendations on how to attract more businesses and reverse chronic decline in commercial activity in the area. One proposal was to use tax money to develop a shopping district in the center of downtown.

Monday, June 16, 2014

Increases in U.S. housing construction

The initiation of construction of U.S. homes in April reached its highest level in months, according to Commerce Department data published on Friday, accurate Agence France Press.

Meanwhile, Efe states that the pace of construction increased by 13.2% in April to stand at an annual rate of 1.07 million, the highest in six months.

In March, the annual rate of new housing construction was located at 947,000 units, according to official figures.

The April increase mainly due to a sharp rise in the beginning of new construction of apartment buildings, which rose 42.9% from the previous month.

Experts believe that the construction of apartments is more volatile than single-family home sector, whose early works rose just 0.8%, which has been interpreted as a sign that housing construction is earthbound firmly behind the recession that began in 2008.

Major advances in new construction of homes in April were for the states in the Midwest and Northeast of the country, which in recent months have been affected by a severe winter which slowed activity in the sector.

Meanwhile, processed permits for new construction rose last month by eight percent, which predicts that the activity will gain momentum in the coming months.

The Federal Reserve keeps interest rates reference around 0.25 percent, despite which has not consolidated the sector due to the difficulties in getting funding families and the increase in house prices, which seems to have anticipated the recovery itself.

A recent study by the U.S. Census Bureau showed that the percentage of homes owned by U.S. households stood at 64.8% in the first quarter, the lowest since 64.7 percent in 1995.

Friday, June 13, 2014

New Real Estate Record: sale penthouse in Manhattan for $ 110 million

The housing market continues to break records beyond our borders. A month ago was sold in London for 170 million euros, a luxury penthouse with 1,500 square meters of Hyde Park. An unusual amount ever paid in the UK for a home. Only two months earlier, came to light that the project will be the world's most expensive penthouse and will be located in Monaco: 3,300 square meters for 300 million euros: 91,000 euros per square meter.

Now, the scene moves to New York. In particular, the island of Manhattan, where he has gone on sale a luxury apartment of 800 square meters for $ 110 million. This is what the Anglo-Saxon slang known as penthouse apartments that usually occupy the upper floors of really tall buildings. This operation to succeed, that is, to find buyer could break the New York property market. The apartment in question is located in the Woolworth Building, which was earlier in the century the tallest skyscraper in the world.

Unmistakable by its more like a church for its neo-Gothic gargoyles and pinnacles, which give a very particular aspect, the building has undergone a genuine inner face wash that has led to 34 luxury apartments ranging in price from 3.5 million dollars for 370 square meters to 110 million asking Alchemy Properties, author of transformation, which will occupy the apartment building's dome, as reported by U.S. media. The company acquired in 2012 the last 30 floors of this legendary building.

Undoubtedly, the attic will have spectacular views of the entire city of New York and its price, 110 million dollars, converted, if finally finds buyer at the highest ever paid for an apartment in Manhattan real estate history.

Among the luxuries of this apartment, which has nine floors and own elevator, stand terrace of 50 square meters, a library or a winery. The sale will start in autumn this year, but remodeling will not be completed until 2016.

The building was completed in 1913. Has 60 floors and 241 meters high made it the tallest building in the world until 1930, when the tower number 40 Wall Street and the Chrysler Building were built, and the Empire State Building in 1931.

The penthouse starts at 50-51 plants, where is located the living area of ​​the house. The main room and winery are located on the 53rd floor, while the 55 to 58 in full dome of the building, the library is located and a gazebo.