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Greetings!
Welcome to the October issue - as we get closer to the end of 2011, preparations have already begun for the Christmas Tree at Porto Pi traffic lights and the clocks change at the end of this week (29th October). |
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EUROPE Government Philosophy: if it ain't broke, fix it till it is. | |
The ongoing charade of the European supposed leaders continues to give potential buyers an easy "let out" from making buying decisions. Understandable, of course, but I really do believe that property prices have reached somewhere near the lowest they will go - so watch out you buyers - it could well start going the other way!! I repeat my comments that the majority of owners here are well enough heeled to "wait it out".
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2011 SO FAR | |
2011 has been a fairly good year for MJC Associates but most of the activity has been in the very top end of the market which is fairly typical for us and our Savills colleagues. |
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THE MARKET | |
The middle market continues to be very slow and the demand in particular in the €1.5 million to € 3 million price bracket has been negligible. Nevertheless our average sale price this year so far has been just under € 3.5 million which is higher than previous years.
There is continuing demand for minimalist / modern architecture although I am concerned that in years to come, the fashion will change, and these will no longer be so desirable. But that's probably just "fuddy duddy" me!! |
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OFF MARKET | |
We now have several "Off Market" properties where the owners wish to sell but don't want us to tell anyone about their property. Makes it slightly more difficult ! Most of these are very high end in terms of price and if you would like information in this sector, please send me an e-mail. But I will need some confirmation of your interest and capacity to pay a fortune ! |
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WEALTH TAX | |
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Spain has announced its intention to re-introduce the Wealth Tax in one of the last significant actions of the government before the General Election in November.
The tax, which was previously scrapped in April 2008, is payable by all residents and non-residents and is levied on all property and assets in Spain held on 31st December each year.There are allowances and minimums as always but you should check with your tax adviser or lawyer - preferably not me please !
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"GROWING NUMBER" of billionaires | |
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There are a "growing number of global billionaires", says the report, who are creating a "super class" of prime property around the world. Because of the rise in rich investors within this exclusive market, homes have become even more expensive, despite a growth of 65 per cent in billionaire properties over the last five years.
"Global billionaires can make any country their home," explains Yolande Barnes, director of residential research at Savills. "Most will seek a base where they are doing business. This has the effect of funneling global equity into the very best residential real estate - a rare commodity in any city. Billionaire buyers demand the best international standards of accommodation and are paying prices to match, creating a super class of global billionaire homes." | |
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THE TOP 10 | |
The top 10 real estate cities identified by Savills in August are Hong Kong, London , Moscow, Mumbai , New York, Paris, Singapore, Shanghai,Sydney and Tokyo. Hong Kong remains the most expensive, with an average house value of £6,700 per square foot. Tokyo came in second, while Paris (£3,270 per square foot) was in third.
But in terms of luxury houses for sale, UK billionaires were way behind, with Hong Kong homes over twice as
expensive as London's prime property. Tokyo, on the other hand, had the highest overall house prices, because buildings tend to be bigger in size, despite a smaller value per square foot.
As multi-million pound houses for sale in price, Singapore has seen the sharpest increase, with home values jumping up by 144 per cent. London's luxury real estate market is still going strong, however, as foreign investors buy up property on a regular basis.
As prices rise faster in the rest of the Savills top 10, Savills concludes that London, New York and Paris now offer "good value" for wealthy buy. | |
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PROPERTIES ON OFFER IN THE MEDIUM RANGE | | |
FOR MORE INFORMATION CLICK ON THE PICTURE
 11071 Campos
07080 Santa Ponsa
11068 Cala Deia
11067 Soller
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AND SOME FINCAS TO THINK ABOUT | | |
FOR MORE INFORMATION CLICK ON THE PICTURE
 11063 Alaro
10064 Pollensa
10049 Campos / Ses Salines |
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SPORTS | |
Leaving aside property matters - Congratulations to New Zealand on winning the Rugby World Cup, a good try by the French though.
Sad news re Marco Simoncelli tragically killed in the Moto GP in Malaysia. He was truly a spirited rider who was definitely a candidate for a future World Championship.
Bad news also for Manchester United fans after their defeat by City but again one has to hand it to the City boys, 6 - 1 is a pretty good win especially on Man United's ground!
And, of course, congratulations to Andy Murray on his win in Shanghai who despite his Scottish devotion has almost acknowledged that he is British - or at least until now !
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JOKES - JOKE TIME LAYER | | |
A lawyer was cross-examining the doctor about whether or not he had checked the pulse of the deceased before he signed the death certificate. "No," the doctor said. "I did not check his pulse." "And did you listen for a heartbeat?" asked the lawyer. "No I did not," the doctor said. "So," said the lawyer, "when you signed the death certificate, you had not taken steps to make sure he was dead." The doctor said, "Well, let me put it this way. The man's brain was in a jar on my desk but, for all I know, he could be out practicing law somewhere."
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QUOTE | |
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How Much Is A Billion?
The next time you hear a politician use the word "billion" casually think about whether you do, or don't, want that politician spending your tax money!!
A billion is a difficult number to comprehend, but an advertising agency did a good job of putting that figure in perspective in one of its releases:
A billion seconds ago, it was 1980.
A billion minutes ago, Jesus would have been 108 years old
A billion hours ago, our ancestors were living in the Stone Age.
A billion dollars buys 20 new Airbuses,
And....
A billion dollars ago, was only 8 hours and 20 minutes at the rate Washington spends |
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