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מהפכה בהליכי ירושה בישראל בנוגע להליך רישום ירושות בטאבו

עורך דין ירושות מסוארי דילן מדווח על מהפכה בהליכי ירושה בישראל בנוגע להליך רישום ירושות בטאבו.

רישום ירושה בטאבו היווה עד לא מזמן נטל בירוקרטי עבור לא מעט יורשים. לא עוד! משרד המשפטים בשיתוף פעולה עם האפוטרופוס הכללי השיקו השנה אוטומציה דיגיטלית המייתרת את ההליך של רישום המקרקעין לאחר קבלת צווי ירושה.

20.11.2023 | תל אביב | ישראל

משרד עורכי דין מקרקעין צוואות וירושות מסוארי דילן מדווח על מהלך פורץ דרך לשיפור היעילות והפחתת הנטל הבירוקרטי בנוגע להליך רישום ירושות בטאבו. לאחרונה השיק משרד המשפטים שירות חלוצי שמחולל מהפכה ברישום זכויות עבור נכסים שעברו בירושה. שירות חדש זה מאפשר ליורשים לצרף לבקשות צו ירושה או צו קיום צוואה, בקשה נוספת עבור רישום ירושות בטאבו. בכך יכולים הפונים כעת לייתר את הצורך בבקשה עתידית לרישום צווי ירושה בטאבו, לייעל את התהליך ולחסוך זמן יקר ליורשים ולעורכי הדין המייצגים אותם.

עורך דין מסוארי מוסר כי מדובר ביוזמה חלוצית המשקפת את מחויבותו של משרד המשפטים לשיפור השירותים הציבוריים. באמצעות שילוב תשתית טכנולוגית מאוחדת, השירות שואף לזרז את תהליכי רישומי הירושות תוך צמצום משמעותי של מכשולים בירוקרטיים בהם נתקלים אזרחים רבים.

לאחר שרשם הירושות מנפיק את צו הירושה וככל שהיורשים הביעו הסכמתם להמשך הרישום, הצו מועבר אוטומטית מרשם הירושות לטאבו. העברה דיגיטלית זו מבטיחה רישום מהיר של הנכסים שעברו בירושות.

הערה חשובה: צריך להוסיף סייג בעניין זה. לא כל נכסי הנדל”ן בישראל רשומים בטאבו. חלק מהנכסים רשומים במינהל מקרקעי ישראל ושם עדיין אין את האוטומציה הזו עם האפוטרופוס הכללי.

פיתוח שירות זה נובע משיתוף פעולה פורה בין האפוטרופוס הכללי והרשות לרישום והסדר זכויות במקרקעין. המטרה המשותפת מן הסתם היא לשפר את אספקת השירות לציבור, לייעל את זמני הטיפול ולהקל על הנטל הבירוקרטי הקשור בהעברת הבעלות של הורשת נדל”ן.

עם כניסתו של שירות זה, היורשים יכולים להגיש את בקשותיהם בקלות וביעילות מהמחשב בבית. תוך עדכון מקוון לגבי מצב הטיפול בבקשתם. גישה יעילה זו לרישום הזכויות לא רק תזרז את התהליך, אלא גם תפחית את זמני ההמתנה להעברת בעלות בטאבו באופן כללי.

מיסוי נדל”ן בישראל יכול להיות שווה לא מעט כסף ליורשים. למרות שמדובר בהליך נוח המפשט את העברות הבעלות בדירות ירושה, רצוי ומומלץ להיוועץ עם עו”ד מקרקעין המתמחה בצוואות וירושות כדי לבצע אופטימיזציה בתכנון מס.

“מיסוי נדל”ן בישראל יכול להגיע לעשרות ואף מאות אלפי שקלים.” מציין עו”ד מסוארי מתוך עשרות שנים של ניסיון בתחום.

יישום שירות חדשני זה של משרד המשפטים מייצר שתי פעולות. מצד אחד, מדגיש את מחויבותו לרתימת הטכנולוגיה לשיפור השירותים הציבוריים. ומצד שני מגדיל את הכנסות המדינה ממיסוי היורשים בכך שרבים מהם מוותרים על ייעוץ מקצועי בתהליך.

עורך דין מסוארי מציין שוויתור על ליווי מקצועי בהליך זה יכול להתבטא בעשרות ואף מאות אלפי שקלים במיסוי. תכנון מס מקצועי שהולך בד בבד עם האוטומציה הטכנולוגית יהווה עבור היורשים מעטפת מלאה למקסום הירושה וזירוז התהליך.

כדי להתעדכן בנוגע למיסוי נדל”ן בישראל, דיני מקרקעין, צוואות וירושות או לשירותים שיש למשרדו להציע. מומלץ להיכנס לאתר ולקבל מידע מקצועי ועדכני.

מקור הכתבה: בלחיצה כאן

אודות המשרד:

משרד עורכי דין מקרקעין צוואות וירושות מסוארי דילן הינו משרד בוטיק שבו מקצועיות משפטית ושירות אישי מתלכדים יחד כדי לספק הגנה מיטבית לעסקה מוצלחת. המשרד פעיל משנת 2008 וליווה מגוון רחב של עסקאות נדל”ן בהיקף מצטבר של עשרות מיליוני שקלים. הניסיון שנצבר במשרד מהווה בסיס איתן לליווי כל עסקאות הנדל”ן לרבות נדל”ן מסחרי והוא ערוך לספק את מיטב השירות המשפטי לקהל לקוחותיו.

לשאלות תקשורתיות, ראיונות או מידע נוסף על משרד עורכי דין מסוארי דילן אנא צרו קשר:

שם המשרד – עורך דין מסוארי דילן

כתובת – הנציב 39, תל אביב

טלפון – 079-574-0020

מייל – masuari.law@gmail.com

 

 

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Building & Construction Business Hospitality Real Estate

Latin America’s Highly Anticipated Glamping Resort Unveiling This December: Passive Glamping Developments Ushers in a New Era of Luxury Glamping

In a pivotal moment of anticipation, Latin America’s eagerly awaited luxury glamping resort stands on the brink of a remarkable debut this December, a testament to the innovation of Passive Glamping Developments. 

The imminent unveiling of this extraordinary resort has ignited a wave of excitement within the hospitality industry, poised to redefine the essence of luxury travel and introduce an innovative avenue for investments.

As the countdown to December unfolds, the industry is buzzing with fervor, anticipating an event that promises to be nothing short of transformative.

This visionary resort goes beyond inviting guests to indulge in luxury; it introduces a concept that seamlessly melds lavish glamping accommodations with the untouched beauty of natural landscapes surrounding Puerto Vallarta. 

As the curtains rise, it is poised to capture the hearts and imagination of discerning travelers and astute investors alike.

Nestled just 40 minutes away from downtown Puerto Vallarta, the resort is strategically positioned near a tourist hotspot renowned for its year-round appeal. The proximity to this bustling town, coupled with its impressive year-round average occupancy rates of nearly 85%, positions the resort at the heart of an unmatched opportunity for both exquisite experiences and savvy investment.

Puerto Vallarta’s allure as a bustling tourist hub remains steadfast throughout the year. From its picturesque beaches to its vibrant nightlife, this enchanting town has long been celebrated as a haven for travelers seeking an unforgettable vacation.

The resort’s location ensures guests have easy access to the town’s diverse attractions, from exploring its charming cobblestone streets to enjoying a variety of water-based activities along its stunning coastline.

As Puerto Vallarta stands as one of Mexico’s most sought-after tourist destinations, the region’s thriving tourism industry fosters a thriving environment for potential investors. With year-round high occupancy rates, the resort’s strategic placement translates into a promising investment venture

Going beyond its role as an unparalleled vacation destination, Passive Glamping Developments emerges as a beacon of investment potential. The strategic prowess of the team has already proved its merit, evident through the resounding success of Phase 1 and 2 presale, which collectively raised a substantial $3 million to date.

With 177 exclusive units harmoniously blending luxury and pristine natural beauty, Passive Glamping Developments pledges not only unforgettable guest experiences but also exceptional investment returns for those who appreciate its pioneering ethos.

The approach to unveiling this resort signifies more than the debut of a luxurious glamping haven; it marks a critical juncture where luxury and investment come together in unprecedented ways. Fueled by an unwavering dedication to innovation and excellence, Passive Glamping Developments is positioned to reshape perceptions of both luxury glamping and investment, ushering in a new era of integrated experiences.

Passive Glamping Developments stands as the dynamic force propelling Latin America’s imminent glamping resort into the limelight. Infused with innovation and luxury, this visionary endeavor is set to redefine the glamping landscape while concurrently creating an exclusive opportunity for investment.

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Building & Construction Business Real Estate

Investor Enthusiasm Soars: Passive Glamping Developments Raises $3 Million in Glamping Presale!

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In a groundbreaking move that is poised to reshape the landscape of luxury travel and investment, Passive Glamping Developments announces a remarkable milestone: the successful raising of $3 million in its presale phase. 

This achievement stands as a testament to the revolutionary vision and investor enthusiasm that underpin this Latin American glamping resort.

With the glamping industry experiencing a surge in demand for unique, experiential escapes, Passive Glamping’s innovative approach has garnered exceptional attention. 

The resort’s fusion of luxury accommodation and unspoiled natural beauty has attracted investors who recognize the potential for substantial returns in this dynamic market.

Passive Glamping Developments – the visionary team behind the resort – has taken the concept of luxury glamping to new heights. The resort’s first phase presale not only secured significant investor interest but also opened doors to Phase 2 presale, setting the stage for even more unparalleled investment opportunities.

“The response from investors has been nothing short of incredible,” says Connor Lewis, Partner at Passive Glamping Developments. “We’re not just creating a glamping resort; we’re pioneering a new way of experiencing luxury travel while redefining investment in this industry.”

With an expected opening in late December, this development stands highly anticipated in Latin America’s glamping sector.

Boasting a total of 177 exclusive units, the resort promises a transformative experience that merges lavish comfort with the untouched splendor of Puerto Vallarta’s natural surroundings.

This achievement comes as no surprise considering Passive Glamping Development’s strategic approach to investment. 

By leveraging their extensive network and strategic partnerships, the team has paved the way for an investment landscape that combines unprecedented luxury with potential financial gains.

As the world looks ahead to the unveiling this December, the resort’s presale success serves as an embodiment of the growing synergy between luxury, nature, and investment. 

With its revolutionary take on luxury glamping, this development is poised to set new benchmarks in both the travel and investment sectors.

For more information about Passive Glamping Developments and the unique opportunities it presents, please visit passiveglamping.com

About Passive Glamping Developments:

Passive Glamping is a visionary glamping and eco-resort development firm that redefines luxury travel and investment. Located in the outskirt of Puerto Vallarta, this highly anticipated resort is set to open its doors in December. 

With a focus on offering unparalleled experiences, Passive Glamping Developments merges lavish accommodation with the untouched beauty of nature.

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Business Marketing & Sales Media & Communications Professional Services Real Estate

Ross B. Williams Hosts Real Estate Investment Expert Hugh Jones on the Latest Episode of Modern Profits Podcast

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Orlando Florida-July 6th, 2023 – The Modern Profits Podcast, hosted by renowned entrepreneur and business coach, Ross B. Williams, has just released a must-listen episode featuring Hugh Jones, a leading expert in multifamily real estate investment.

In this enlightening conversation, Jones pulls back the curtain on the world of multifamily real estate investment, offering both seasoned and aspiring investors unique insights into this lucrative industry. Listeners are given an inside look at the multiple revenue streams available in this sector, which include acquisition fees, cash flow, and equity on resale.

Jones shares an invaluable tip for investors: “For every dollar you increase the income of the property, you increase the resale value by ten times that amount.” This wealth-creating strategy is one of the many shared during the course of the discussion.

Moreover, Jones shares the process of leveraging other people’s money for investments, a powerful tool that makes real estate accessible even to individuals without significant personal capital.

“Hugh Jones brings an extraordinary depth of knowledge and humor to the conversation. Our listeners, whether they’re newbies or veterans in the world of multifamily real estate, will find immense value in this episode,” says Williams.

The Modern Profits Podcast continues to offer its global audience a wealth of knowledge through inspiring conversations with industry leaders. As Williams stated, “We’re focused on empowering our listeners with practical knowledge that they can implement right away.”

Tune in to the Modern Profits Podcast today to listen to the insightful conversation between Ross B. Williams and Hugh Jones, and delve into the exciting world of multifamily real estate investment.

About Modern Profits Podcast: Hosted by Ross B. Williams, the Modern Profits Podcast is a platform that bridges the gap between business theory and practical entrepreneurship. Each episode features in-depth interviews with successful entrepreneurs, thought leaders, and experts, offering listeners a 360-degree view of the world of business and entrepreneurship.

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Real Estate U.S

Wealthy Gulf Nationals Snapping Up Luxury Properties in New York: Market Poised to See Substantial Growth

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New York’s luxury property market is gearing up for a pivotal 2023, with the most exclusive enclaves of the city witnessing a significant uptick in property viewings. Ultra-rich Gulf investors are reportedly snapping up properties in New York, according to Middle East Eye.

NYC Luxury Property Market Is Expanding

Wealthy GCC (Gulf Cooperation Council) investors are vying for luxury properties, with New York and London the standout cities in high demand for prime and super-prime sales.

However, over the last few years, the worldwide border restriction due to COVID-19 caused a slowdown in the US property market.

Case in point: International buyers invested $59bn on US residences in the last 12 months ended March 31, 2023, which is the second-lowest home sale since 2009, according to the National Association of Realtors. 

On top of that, the hefty hikes in interest and mortgage rates, soaring inflation, and a high risk of the recession induced as the after-effect of the Russian invasion of Ukraine further exacerbated the crisis.  

However, with easing border restrictions and the country trying to eke out growth, the USA’s luxury property market is poised for a tremendous comeback.

For example, the upscale property market of Manhattan is reportedly on firm ground. The borough alone witnessed a 35.6% increase in luxury residence transactions through last August compared to the same period in 2021 and from the pre-pandemic levels of 2019.

Overall, the city racked up around 244 home sales valued at $10M or more—higher than any other city in the world.

It means: despite soaring economic headwinds and geopolitical uncertainties worldwide, the luxury market in New York City remains robust.

The Economies of Gulf Nations Are Booming

Even though the soaring energy prices stemming from the Ukraine conflict have caused higher monetary conditions and rising global inflation, it has buoyed the economies of the Gulf nations.

Inflated oil prices have bolstered GDP growth prospects in Saudi Arabia. The country reported real GDP growth of an eye-watering 8.7% in 2022, the highest among the G-20 countries.

UAE is also radiating optimism, chalking up economic growth of 7.6% in 2022. As a result, Gulf nationals have had their wealth increase.

Again, Dubai has been ranked as the world’s fourth most active luxury residential market last year, with property prices rising roughly 44%.

On the other hand, Riyadh ranked third, with prices surging around 25%.

Again, international investors are splurging money into the Gulf stock market.

UAE’s ADX and Saudi’s Tadawul have been ranked as the best-performing stock markets in the world, while the Initial Public Offering (IPO) in a stock market seems to be paralysed elsewhere.

GCC residents usually have high exposure to the equities of their countries.

Retail investors’ share of total equities trading volume on Tadawul is now around 67%, whereas, for US markets, it’s only 25%. Gulf stocks may seem down this year, but historically, it’s still high.

Gulf Nationals Looking at NYC Properties with Fresh Interest

The strength of the US dollar compared to the Pound Sterling has been underscored as a key player in buoying NYC’s luxury property market.

The US dollar has long been considered a safe-haven asset during political tensions, prompting investors to devise active strategies based on geopolitical shocks.

Ultra-rich GCC nationals already invested in Europe are now turning to the US luxury market as a long-term investment and as part of their effort to maximise their portfolio. 

One leading benefit they enjoy over other foreign investors is that the currencies of the Gulf nations are pegged to the US dollar.

That said, with a massive influx of Gulf nationals preferring contemporary-style interior architecture for their luxury NYC homes, the demand for high-end interior design services like Accouter is ballooning.

By blurring the line between interior design and architecture, a class-leading interior service company can transform exclusive spaces into exquisite homes. 

Wrapping Up

With a substantial number of Gulf nationals flocking to the city, NYC’s luxury property market is poised to grow this year. 

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Celebrity Government & Politics Real Estate Society & Culture Technology

Online Personality Mike Martins Launches RealMikeMartins.com

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Merritt, BC – Mike Martins, a longtime presence on social media known for his controversial views and predictions since 2008, has announced the launch of his own website RealMikeMartins.com to share his content and circumvent algorithmic restrictions imposed by mainstream platforms.

Martins, who hosts the popular weekly Saturday show “Mike in the Night” from 2016 has garnered attention for his bold commentary on topics ranging from politics to economics to societal issues. With over 500 episodes under his belt, he continues to challenge conventional wisdom and offer unique insights into global events with his 4700+ videos on YouTube @realmikemartins.

Notably, Martins has made several accurate predictions over the years, including warning about the impact of money laundering on Canadian real estate markets well before the issue gained widespread attention. He has also spoken at length about the erosion of trust in government institutions and the potential consequences of such dynamics.

In recent years, however, Martins has faced increasing challenges in getting his message out due to censorship efforts by major tech companies like YouTube. His new website offers him greater control over his content and allows him to reach a wider audience without interference.

Despite some criticism of his work, Martins remains committed to speaking truth to power and providing valuable perspectives on important issues. Visitors to his site can expect thought-provoking analysis and insightful commentary on developments both domestic and international.

For more information, please visit https://RealMikeMartins.com

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Lifestyle Living News & Current Affairs Real Estate U.K

Belgravia Townhouse with Ties to Exiled Greek Princess Goes Up for Sale

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The former royal residence, located in Eaton Square, Belgravia, has reportedly gone up for sale for the first time in the last three decades for roughly £39.5M.

This notoriously stylish and magnificent residential garden square was home to some of the members of the Greek royal family through the mid to late 1940s, reported the Evening Standard. 

Inside the Belgravia Trophy House

The grandiose trophy home is one of just 12 freehold houses facing the garden on Eaton Square – one of the most exquisite and exclusive postcodes in London.

Once exiled Princess Katherine and her husband lived in this palatial house for years before they left Eaton Square and eventually moved to Marlow, Buckinghamshire.

This sumptuous property is spread over six floors, standing on 10,600 sq ft of land, and comprises six majestic bedrooms, opulent reception rooms, and a gymnasium among others. 

Even though it’s not a true royal palace, the ornateness of the building, the lush gardens, and the grandeur it upholds are worthy of royal designation.

The residence got a wistful refurbishment around two decades ago by the prolific interior designer Nicky Haslam who is renowned for transforming the interior of a property into a unique, timeless environment. 

Originally built by Thomas Cubit between 1825 and 1826, this place of Greek royals amazes visitors with its elegance. 

Boasting a hacienda-like courtyard, spacious corridors, and high ceilings, this stupendous property is now recognised for blurring the line between regency and modernity. 

The resplendent property features a formal stucco and brick façade with a portico supported on Doric columns.

The ground floor includes a stately reception hall embellished with an inlaid marble floor and Corinthian columns, a formal dining space, and an arboretum with direct access to a garden terrace. 

In addition, the cluster of magnificent reception spaces on the first floor presents a dizzying range of hosting options.

The majestic master bedroom suite encompasses the entire second floor while the upper floor is occupied by three additional bedrooms and a study.

The well-furnished gym, wine cellar, utility room, guest bedroom suite, and laundry room on the lower-ground floor ensure the property upholds its unique resplendence while also offering all modern conveniences. 

The mews house, which connects to the main home on the lower ground level and occupies a storeroom, a garage, multiple reception spaces, and three ensuite shower rooms, can be extended into more five bedrooms if required. 

Adorned with chandeliers, gilded ceiling coving, decorous marble fireplaces, wall panelling, and parquet flooring, this upscale trophy house is synonymous with ultra-luxury.

The Belgravia Trophy Home on Sale

Unsurprisingly, this unravelled luxury property has been put on sale at an eye-watering asking price: £39.5 million.

The luxury royal residence is expected to draw interest from domestic and international uber-rich buyers who look to invest in luxury properties as part of their effort to maximise their property portfolio.

With wealthy foreign investors snapping up properties in London’s most exclusive enclaves such as Belgravia, the demand for vacant luxury property management services like Quintessentially Estate is booming.

A bespoke and tailored service ensures a client’s property is well managed and ready for their home-coming.

Wrapping Up

The trophy property with ties to the Greek royal family is expected to create a bidding war among rich buyers. Featuring ornate rooms and striking marble floors, this rare property boasts an “abundance of luxurious and beautiful accommodation”. 

Categories
Lifestyle Living Real Estate U.K

The Sea-Front Luxury Apartment Building in West Cliff Gardens Selling Fast

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A Luxury apartment building located in one of Bournemouth’s most sought-after areas is reportedly selling fast.

Even though the construction of the building is yet to be completed, around 60% of the development is already sold, reported yahoo!news.

Inside the Luxury Apartment Building in West Cliff Gardens 

This sea-front Sonnet development located on the cliff tops of West Cliff Gardens, Bournemouth, is worth around £10m or more and is proposed to consist of 14 luxury three-bedroom apartments.

The unobstructed views of the English Channel which can be enjoyed from all of these 14 homes is buoying the demand for the building among uber-rich buyers.

Awash with ultra-luxury, the apartments of this contemporary-style building have direct access to West Cliff Gardens. 

Each apartment is equipped with Quartz worktops, herringbone-style LVT flooring, and Shaker-style matt kitchen units, with high-end appliances throughout.

Consisting of a highly secure spacious bike and car parking, expertly landscaped communal gardens, and private outdoor space, this building is claimed to offer all modern convenience while also preserving its grandeur. 

In order to gain a high EPC – B rating while allowing purchasers to minimise their carbon footprint, the building is fitted with an air source heat pump. 

As a result, buyers investing in this ‘green development’ can benefit from Green Mortgage rates.

“We have thoroughly enjoyed welcoming the first purchasers to this luxury development and are delighted that 60% have now sold. Sonnet’s prized location, accessibility to the seafront, and Bournemouth’s vibrant town centre make it a very special proposition. The large windows maximise the views, creating beautifully glamorous living space,” according to a spokesperson from the house building service developing the building. “We would urge all those who are interested in moving to a beautiful new home here to book an apartment tour at their earliest convenience.”

The average transaction value for the apartments that were sold was registered to be between £555,000 and £875,000. 

The remaining six apartments are expected to be ready for the buyers to move into by the end of 2023.

The construction of this development started in November 2021. 

Bournemouth Named Among UK’s Most Sought-After “Dream Home Destinations”

With incredible amenities, historic architecture, bustling nightlife, and excellent transportation facilities, Bournemouth has become a solid choice for wealthy buyers considering resettling.

On top of this, for investors looking to maximise the value of their property portfolio, this town with one of the finest beaches in England is the perfect choice.

Bournemouth ranked as the sixth-highest town in the UK for house price increases amid a fast economic recovery, with a deluge of wealthy buyers flocking to the town. 

Bournemouth has witnessed an increase of 27.21% in terms of average house prices.

Case in point: In 2022, the average house price in Bournemouth was registered at around £371,718 – up from £270,588 in 2019.

That being said, with buyers favouring contemporary-style interior architecture for their Bournemouth residences, the demand for expert residential interior design services like Accouter is rocketing.

From reimagining the interior architecture of a home to helping with art acquisition, a class-leading interior design service ensures turning exclusive spaces into exquisite residences. 

Wrapping Up

The incredible architecture and the sea views of the Sonnet development are the key forces propelling its demand among people looking to enjoy the benefits of coastal living. 

Categories
Financial Market Lifestyle Living Real Estate U.S

New York’s Luxury Property Prices to Increase Amid Geopolitical and Economic Uncertainty

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Hefty hikes in interest rates, soaring inflation rates, and a risk of a recession are looming over the US.

However, these soaring economic headwinds and intensifying geopolitical uncertainty have actually favoured the prime property market in New York City.

2023 is expected to witness an increase of 2% in the luxury property price in New York, reported Realty+. 

NYC’s Luxury Property Market is on Firm Ground

In 2022, more than 14,500 properties were transacted in Manhattan—a jump of 23% from the pre-pandemic levels of 2019.

As a whole, the city racked up 244 home sales worth $10 million or above—higher than any other city in the world.

What’s Driving the Hike in Property Prices

Supply constraints compared to demand, safe-haven capital flight, and wealth preservation are the key factors contributing to driving prime property price growth. On top of that, the post-pandemic surge in prices continues to push property prices higher.

The cash buyers accounting for roughly 80% of home transactions have made Manhattan luxury home sales defy the USA rate hikes.

Luxury homes in New York reported an average growth of 2.7% in 2022.

In March 2023, the Federal Reserve declared another 25 basis point interest rate, increasing the federal funds rate from roughly zero in March last year to a range of 4.75% to 5%. This benchmark rate is the highest it’s been since 2007. It’s the ninth consecutive time the Fed has increased the rate as part of its effort to discourage inflation.

However, analysts predict the Fed to cease hiking rates in response to recent bank collapses in the USA (e.g. Silicon Valley Bank). 

Even though the average rate for a 30-year fixed mortgage, the most popular home-loan product, has plummeted to 7.08% this March from its peak at 7.32% in November 2022, it’s still considered high compared to historic levels. Highly leveraged homeowners are staying put instead of facing a double whammy from mortgage costs, which can result in decreased inventory levels.

Again, the rental market in the city has started to fall into place as it is fast recovering from the COVID-19 crisis. 

The rental value for luxury properties rose by 19% in 2022 alone. Since 2021, it soared to 49%.

The rapid increase in property demand in Manhattan has shrunk the number of available rental properties from 41,516 in October 2020 to 14,148 in January 2023. 

With mortgage rates continuing to inflate and rental stock shrinking, tenants are locking in, and opting for longer leases. 

The number of leases in New York has surged as rents have notched last year’s record. 

The number of new lease signings in January 2023 increased by more than 42%, which was only around 16% in February 2021. 

The median rent in Central Park South landed at $10,995 which is the highest in the city. The exclusive enclaves of Tribeca and Soho ranked second and third with median rents of $9,500/month and $6,395/month respectively.

Against volatility in multiple asset classes and intensifying economic tension across the country, New York’s increasing rents, persistent price growth, and low buying costs are luring investors seeking an inflation hedge in a global and transparent market. 

On top of that, the strength of the dollar has led to more interest in luxury New York properties among ultra-rich buyers.

With wealthy buyers investing in upscale properties in the city to maximise their property portfolio, the demand for luxury property management services like The London Management Company is skyrocketing. A high-end property management service ensures a client’s property is always well-managed and ready for their arrival.

Wrapping Up

New York exhibits a non-linear relationship between price and size: with more deals transacted at higher prices, the expansion of luxury property lifts the entire property market.

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Building & Construction Lifestyle Living Real Estate World

Dubai’s Luxury Market Shows No Signs of Slowing Since its 2021 Surge; Expansion Expected to Continue this Year

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Dubai’s luxury real estate market is poised to continue booming in 2023, with a deluge of international ultra-high-net-worth investors flocking to the city amid economic and geopolitical uncertainty elsewhere.

Gulf Business has shed light on the key factors providing an impetus to the substantial influx of private wealth for ultra-luxury properties in UAE over the last year.

The sale of prime real estate in Dubai increased 89% in October 2021 from the previous year—a speedy recovery from a steep slump prevailing from 2014 to 2020. Dubai’s real estate market climbed so fast that it caught many off guard.

Dubai Luxury Real Estate Market Booming

2023 is witnessing a sharp rise in the demand for properties in the city’s prime and super prime enclaves, such as Downtown Dubai, Dubai Marina, Palm Jumeirah, Jumeirah Bay, and Business Bay.

Luxury prime properties in Dubai have been transacted for a whopping 7235 dirhams per sq.ft. in the first quarter of the year—a jump of 16% from 6,250 dirhams per sq.ft. registered in 2022.

Driving Forces Behind Dubai’s Luxury Real Estate Market Boom

The global upheaval has seen a flight of capital from Commonwealth of Independent States (CIS) countries recently, and Dubai’s luxury property market has proven to be a prime benefactor due to its faster recovery from the pandemic crisis. 

The ultra-luxury hotels, exclusive penthouses, and villas with exquisite views are helping Dubai cement its iconic position in the luxury real estate market, thus making it the preference of wealthy buyers.

The hiking interest rates, soaring inflation, and deep recession looming over the West are unlikely to dent Dubai’s real estate market growth.

Again, UAE’s tax-free regime, pro-business policies, and easy mortgage plans are some key factors incentivising investors worldwide to snap up properties in Dubai.

However, mortgage transactions account for only a quarter of overall property deals in the city as most properties are bought by high-profile investors who are less bothered by mortgage rates. 

Off-plan payment structures which offer post-handover payment plans to investors, have made Dubai’s real estate top the customers’ list. Off-plan payment enables investors to rely less on borrowing, effortlessly adapt to foreign exchange fluctuations, and use strategies to retain their wealth.

The city’s excellent climate, safety, and unrivalled sun-sea-sand lifestyle have scintillated a terrific comeback leading to a meteoric rise in luxury property sales. Case in point: Dubai’s luxury real estate market has been ranked fourth globally, closing in on New York (NY), Los Angeles (LA), and London.

In 2022, this Middle Eastern real estate business hub racked up 219 property sales valued at USD 10M or more, compared to 93 in 2021—a jump of 135%.

By comparison, NY recorded 244 sales worth around $10M, LA 225 transactions, and London 223.

The fast development of townhouses and apartments with a brand name has long been considered a key factor in buoying Dubai’s property market. Around 48 branded projects in Dubai are poised to be delivered in the next few years. 

Again, with millionaires preferring contemporary design, interior design services in Dubai, such as Accouter, are getting a push. High-end interior design studios can turn exclusive spaces into exquisite residences while ensuring a superior living experience.

Wrapping Up

Despite soaring prices, Dubai’s luxury real estate market is set to see substantial growth this year with record-high sales.