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Global Luxury Property Review

June 2013

Latest Luxury Property News from Europe

London Property Prices Set to Continue Rising

Over the next decade new build homes in Lambeth, Finsbury Park, Shepherds Bush

and Shoreditch in London could be worth an average

of £2,000 per square foot, according to new research

from CBRE.

The London residential experts estimate that the £2,000 per square foot average pricing band for developments will spread across the capital city by a kilometre every three years. ‘High demand for luxury property in the capital is pushing the £2,000 per square foot band outwards. There is a limited supply of high end homes in London, and new homes are being snapped up at record rates,’ said Mark Collins, chairman of CBRE Residential.

Read more: www.propertywire.com

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New Residency Laws May Affect Spain’s Luxury

Property Market Spain has confirmed the enforcement of automatic residency rights on the 1st of

January 2014 to foreigners who spend €500,000 or over on property anywhere in

the country.

Spanish residency gives buyers the ability to move freely around 25 European nations, already proving an attractive proposition to Asian, Russian and Middle Eastern buyers. The law adds a new stimulus to the global market place. A change of pace is expected as demand from those who might have been hesitant to buy before are now persuaded.

Some market analysts are predicting a €100 million property investment in Spain

over the next 24 months. Portugal’s ‘Golden Visa’ scheme last year similarly targeted high net worth buyers. Market surveys from the Royal Institution of Chartered Surveyors (RICS) highlight the wave of new buyer enquiries after the law was introduced, allowing Portugal’s housing market to stabilise.

Source: www.watchlistnews.com

Latest Luxury Property News from the Middle East

Dubai Property Revival Gathers Pace Home prices in Dubai are climbing, with the average sale price of mid-range villas

soaring 47 percent in the year to May and mid-range apartment prices advancing

32 percent, according to data compiled by Cluttons LLC.

Emaar Properties has started two new projects and began expansion of its flagship

shopping mall as the developer of the world’s tallest tower leads companies

seeking to benefit from the rebound in Dubai’s real-estate market.

Read more on this story: www.bloomberg.com

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Israel Enjoys Surge in Real Estate Prices Despite the ever-present threat of regional conflict, Israel has been enjoying a

surge in real estate prices of late, driven by the country's booming high tech

industry and a limited supply of prime property. At the very top end of the market,

builders are wooing buyers with luxurious amenities, such as a triplex penthouse

apartment atop the W Hotel in Tel Aviv featuring floor-to-ceiling glass, an

expansive walk-out terrace (on the 44th floor), a private elevator, and, to top it all

off, a private rooftop swimming pool with glass portals in the bottom to allow

indoor loungers to view swimmers from below.

Butterfly Residential came across this and other luxury properties on this website.

Latest Luxury Property News from the Far East

Luxury home price growth in Asian slowing Luxury home prices in Asia posted further gains in the first quartet of 2012 but the rate of growth has eased as government property cooling measures have taken effect, according to a new report from global research and real estate consulting firm CBRE.

The CBRE Asia Luxury Residential index increased by 1.1% quarter on quarter but among the 13 major city markets tracked by the index nine saw only modest price rises of between 0.7% and 3%.

Price growth was led by New Delhi and Mumbai which saw gains of between 2% and 4% quarter on quarter due to a lack of supply. Other strong performers included Manila and Kuala Lumpur where buying demand remained firm. There was mild price growth recorded in Beijing, Shanghai, Guangzhou and Shenzhen.

Read more: www.propertywire.com

Beijing’s Luxury Home Prices at 17-Month-High The average price of Beijing’s luxury homes excluding town houses jumped to the

highest in 17 months in May, as wealthy buyers favored bigger properties under

the government’s purchase restrictions, a local agency said.

New-home prices in Beijing rose by 3.1 percent in April from the previous month,

More on this story: www.bloomberg.com

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Singapore: Popular Luxury Investment Destination The much reported slowdown in the

Singapore property market has not damaged

the city state’s reputation as one of the

world’s most attractive luxury investment

destinations and savvy international buyers

are still drawn to high-end projects in prime

locations, according to this report.

With a population of five million, Singapore

has more millionaires per capita than any

other country in the world. On top of that, the

world’s mega-rich are shifting their wealth to

Asia, particularly Singapore, because of its relatively low tax regime, crime-free streets,

sound banking system and pro-business policies.

A recent CNN report even went further to suggest that Singapore could overtake

Switzerland as a tax haven by 2020 and this prediction would probably come true if the

US and Europe continue to be mired in economic uncertainties. The report also says that

an increasing number of Chinese, Indians and Indonesians are helping to shift wealth to

low-tax Asian centres like Singapore and Hong Kong.

Latest Luxury Property News from the USA

US luxury home market heating up The U.S. luxury home market is being driven to new heights by relatively low

prices, low interest rates and a more stable economy than in many countries,

experts say.

Luxury housing agents around the nation are reaching out to international buyers.

Some brokers are working in conjunction with art sales in far-flung locales in Asia.

Bus tours for potential international buyers have been taking place in the Los Angeles

market for the past several years.

West Coast buyers in the $20 million price range are looking for the wow factor,

with one house being built in Beverly Hills will be surrounded by a moat.

Read more: www.ctpost.com

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Campbell’s Soup Luxury Estate on the Market The luxury residence of Campbell's billionaire Jack Dorrance has gone on the

market more than 20 years after his death, according to this report from The Daily

Mail

The estate known as Linden Hill, which once housed the soup heir's vast collection of more than $120million worth of art and over $100,000 in wine, is being sold off by its current owner venture capitalist Robert Burch.

The property with eight bedrooms and ten bathrooms stands in a 50 acre estate in Gladwyne, Pennsylvania, has been restored to its heyday by Burch and it now resembles again the home John Dorrance Sr's son once acquired.

Tom Hanks selling luxury Los Angeles property Tom Hanks is hoping to find a buyer for his Los

Angeles home which he purchased over 20 years ago

shortly after his success in comedy movie 'Big.' The

'Saving Private Ryan' star - who no longer lives in the

luxury property located in the posh Pacific Palisades

area - is keen to find a new buyer for the mansion

which he brought with wife Rita Wilson in 1988.

The home is described by Real-estate website

Zillow.com as a ''legendary'' Spanish-style villa built in

1928 and it boasts a private beauty salon as well as a

terrace with views of the ocean.

Further reading: www.contactmusic.com

About Butterfly Residential

The Global Luxury Property Review is a monthly article compiled for Butterfly Residential offering a snapshot of the sector. Butterfly Residential is a boutique, professional, high-end property company specialising in sales and rental of luxury property Marbella, London, New York, Brazil, Italy and Barbados, among others. Address: Avd. Ricardo Soriano 72, Edf. Golden, Portal C, 2º H, 29601 Marbella, Málaga, España

Email: info@butterflyresidential.com Web: http://butterflyresidential.com

Tel: (+34) 662 258 896 Tel: (UK) 0208 1444 383 Skype: butterflyresidential