property
A large chunk of the world's wealth today is locked in illiquid assets, therefore they are typically traded at a discount. According to a recent study by the Boston Consulting Group, "tokenisation" - using cryptocurrencies and blockchain technology promise to turn illiquid assets such properties into capital flows - and this market is expected to grow to $16 trillion (€14.85 trillion) by 2030. Although the use of these new digital tools has yet to be widely regulated in the US, new laws in Europe are set to take effect from 2025 which may lead to investors reconsidering the idea of tokenising ...
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Last year saw the creation of an average of 70 very wealthy investors every day and this is a trend that shows no sign of slowing down. The world's ultra-wealthy population rose by 4.2% and the number is expected to climb 28% during the five years to 2028, according to real estate consultancy firm Knight Frank. Their latest Wealth report found that the number of ultra-high-net-worth individuals or UHNWIs - someone with a net worth of $30 million (€27.6 million) - or more across the globe swelled to 626,619, from 601,300 a year earlier. This was due to increased investment in shares on the hope...
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The data combined the cost of actual rents paid with an estimate of the cost of housing owners would pay if they rented their home on the open market - known as “imputed rent”. Housing in Poland, by contrast, has the lowest share of spending of any OECD country, with only 6%. The largest expenditure item across all countries but one was imputed rentals for housing. Poland is the exception, where electricity, gas and other fuels was measured as the largest expenditure. Poland’s heavy dependency on fossil fuels led to some of the highest wholesale electricity prices in Europe following Russia’s ...
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For most people, buying a home is the biggest investment of their life. So it makes sense to take every risk into account. Increasingly, climate change is taking its toll on the property market, damaging and devaluing homes, and driving up insurance costs. US real estate site Realtor.com announced last week that it is expanding the climate risks on its property listings from fire and flooding, to current and projected future levels of heat, wind and air quality. Over 40 per cent of US homes are at severe or extreme risk when it comes to these factors, the realtor said in a press release. Some ...
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The price of an apartment in Istanbul is now in close competition with those in infamously expensive cities such as Paris and London, as figures show that Turkish house prices are 12 times higher than they were nine years ago in nominal terms. Among OECD member states, northern European countries such as Sweden and Finland have seen the smallest change, with more than 4% increases in nominal housing prices since 2015. On the other end of the scale sits transcontinental Turkey, followed by Hungary, where prices are 166% more than they were in 2015. The majority of OECD countries saw their house...
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The UK's largest building society, Nationwide, announced on Friday that UK house prices were 1.2% higher in February than during the same period in 2023. Over the month, the lender said that costs are up 0.7%, meaning that the average house price has risen to £260,420 from £257,656 in January. Friday’s data, which surpasses analysts’ expectations, points to an upturn in the UK housing market following limited demand last year. "The Index shows the market casting off a lull from the winter and has the prospect of higher activity than previously expected," said Mark Dyason, Founder of Edinburgh ...
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Millennials could potentially become the wealthiest generation ever, according to estate agent Knight Frank's 2024 Wealth Report. Defined broadly as those born from 1981 to 1996, millennials, also known as Generation Y, could possibly see a sizeable windfall in the next 20 years, due to property and other assets amassed by their parents and grandparents. This could clock in at about $90 trillion (€83.1 trillion) in the US alone. "When the silent generation (born from 1925 to 1945), the baby boomers (1946 to 1964) and the oldest cohort of Generation X (1965 to 1979), die, £2.5 trillion (€2.9 tr...
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Greece is one of the last remaining countries in Europe to offer golden visas. The controversial ‘residency by investment’ schemes allow wealthy foreigners to ‘buy’ the right to stay in a country long term. Concerns over security and inflation have led many EU nations to abolish golden visas in recent years. Greece launched its programme in 2013 during what became the country’s 10-year financial crisis. The visas were intended to bring money into the country during its housing market collapse. The visa allows third-country nationals who purchase properties of a certain value to become temporar...
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China has cut its mortgage-linked five-year loan prime rate (LPR), the country's central bank announced Tuesday - the first time it has done so since May 2023. The five-year rate was lowered by 0.25 basis points to 3.95% while the 1-year rate remains at 3.45%. Analysts said it was the largest cut on record for that rate. The surprise cut to the five-year LPR could improve affordability for buyers by lowering mortgage rates. China's economy, the world's second-largest, depends heavily on the property sector to drive growth and provide employment. Since a crackdown on what the country's leadersh...
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German office properties have seen a significant slump in price alongside a sluggish increase in returns, according to new figures. Office property prices fell by 5.2% in the last quarter of 2023 - compared to the previous quarter - and 13.3% year-on-year, German banking association vdp said in a press release on Monday. The numbers mean that Germany's office building market has seen its sharpest drop since 2004. Is a commercial real estate crisis unfolding across Europe?EU pizza prices: How much did pizza costs increase?Are these the five easiest European countries to start a business? The pi...
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