The proposed new property tax for non-resident property owners, planned as part of the tax reform debate in the French Parliament, is to be abandoned. Thierry Mariani, Secretary of State for Transport, announced the change of heart on Saturday 18 June after a meeting with President Nicolas Sarkozy. It is estimated that the proposed new [...]

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When Petra Ecclestone, Formula One mogul Bernie’s younger daughter, decided to renovate her £56 million Chelsea home, she clearly needed a suitable alternative.  So, along with her fiancée James Stunt, she acquired Candy Spelling’s Bel Air Manor House, on the market for $150 million.  (Although rumor has it that Candy accepted more like $80 million.) [...]

Continue reading " Petra Ecclestone Buys America’s Most Expensive Home "

A new savings account will allow property investors to speculate on the housing market for as little as £1,000.  Castle Trust, led by former Financial Services Authority chairman Sir Callum McCarthy is to offer the product, backed by private equity firm JC Flowers. The new group will simultaneously launch a mortgage business, funded by the [...]

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Mortgage borrowers are discovering that application fees have risen 13 per cent in the past two years.  And the latest mortgage lending data from the Council of Mortgage Lenders showed that the amount of home loans had fallen to 40,900 in April from 41,900 a year earlier. The analysis, from moneysupermarket.com, shows fees for fixed [...]

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Competition in the mortgage market is increasing as lenders focus on homeowners looking to take out fixed rate mortgage deals ahead of future interest rate rises, according to figures from Moneyfacts. The average cost of a two-year fixed rate loan has fallen to 4.41 per cent, down from 4.5 per cent in May and the [...]

Continue reading " Fixed Mortgage Rates Fall To Six-Month Low "

The Royal Institution of Chartered Surveyors (RICS) has announced that 42 per cent more surveyors reported that rents rose rather than fell in the three months to April 2011. This means that rents in some areas are now so high that previously affordable homes are now out of reach for many. The organisation said that [...]

Continue reading " Residental Property Rents On The Rise! "

Burj Khalifa in Dubai is now not only the world’s tallest building but has beaten the previous record by more than 1,000 feet.  At 2,717 feet (828 metres) tall, it is the height of the previous highest skyscraper, Taipei 101 in Taiwan, with the Eiffel Tower perched on top. Taipei 101 was the tallest skyscraper [...]

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The ‘Blue Flag’ eco label has awarded Spain 511 Blue Flags, more than any other European country, in recognition of the Iberian nation’s beautifully pristine beaches. The award considers water quality, cleanliness, safety, accessibility and services and is judged by an international panel.  It also attracts property buyers as homes in close proximity to a [...]

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As some of the world’s top golfers pack up their clubs and head for home, the sunlit greens of Wentworth in Surrey return to their quiet, exclusive state, host merely to the district’s rich and famous. From a property agent’s point of view, this area of Virginia Water nestling around the golf course is pure [...]

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For an eighth straight month, house prices in the US fell, dropping below the lowest level recorded in the previous property slump. Americans grew generally more pessimistic in May, as employment figures also fell and inflation expectations rose. According to the home price index compiled by Standard & Poor’s, the price of single-family houses in [...]

Continue reading " US House Prices Suffer Double Dip "