September 19th, 2011  Posted at   Buying, Real Estate
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Moving to the nation’s biggest city can be confusing and frustrating. Auckland has over 200 suburbs, each with different characteristics, schooling quality, land prices and access to shopping and amenities. While there are plenty of house builders in Auckland who can construct the perfect home for you, choosing where to live requires many different considerations. Take a look at some of the most popular suburbs in the city and what makes people want to live there.

Ponsonby.
An iconic upper-middle class suburb, Ponsonby is known by name throughout the country. It has become known for its dining and shopping in recent years with a strong nightlife and plenty to do. Recent gentrification has pushed property prices up and seen huge developments in the area. Local schools make the suburb a great choice for young families.

Mt. Eden.
The highest natural point in Auckland. The surrounding suburb has grown from a community of artists and writers, made popular because of cheap housing and central location, into a creative and bustling area, filled with shops, restaurants regarded by many as Auckland’s ‘Home of Arts’ because of its history and residents. Mt. Eden is home to a number of good primary and intermediate schools and is located close to Auckland central.

Epsom.
Popular because of the high quality of schooling in the area. Auckland Grammar and Diocesan School for Girls are highly respected secondary education choices with the highest student rolls in the city. Because Epsom is in-zone for these schools, houses cost an average of 100,000 NZD more when they are located in what has become known as the ‘Grammar Zone’; the suburb is sought-after by many families.

Remuera.
Another suburb noted for its great choice in schooling. Remuera also offers a business and shopping district that spans along its namesake road and close access to the shopping district in Newmarket. Popularity and a central location have made Remuera a reasonably expensive property market. Read more… »

September 19th, 2011  Posted at   Real Estate
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Mumbai luxury real estate is one of the costliest in the world also one of the fastest in terms of price growth. While luxury real estate prices remained stagnant in the most parts of the world, in Mumbai prices increased by over 20% in 2010.

According to Global Wealth Report by Knight Frank and Citi Bank, Asian cities such as Shanghai and Mumbai will start to close the gap in next 10 years with New York and London that are presently on top of the wealth report’s global cities index. Mumbai was also ranked the world’s 25th most expensive city in terms of property prices while Monaco remains the world’s costliest city followed by London.

And this trend is only bound to continue with aggressive real estate appetite demonstrated by Indian HNIs. According to the report Indian HNIs would like to invest at least 10% of their total portfolio in residential real estate. This was double than what financial advisers would have done. Real estate, as an asset class, however has rarely disappointed in a city like Mumbai where stories of five baggers in five years not very uncommon. The luxury apartment in a city like Mumbai may cost anywhere between USD 1 million to USD 12 million, and range from 5,000 square feet to 13,000 square feet in size. The luxury real estate euphoria is fuelled by bullishness in some real estate pockets in South Mumbai where luxury apartments in have become 25% to 30% costlier than they were a year ago.

However it has been a mixed bag in 2011, where the glut of apartments in Central Mumbai can play a spoil sport and one may see some correction in prices. According to broker estimates around 40% of luxury apartments coming up in Mumbai are unsold. Buyers in markets like Central Mumbai are not buying into high rates of INR 25,000 per square feet. And as a result, pre-sales (wherein residential apartments are typically sold before fully constructed) have come down. This has resulted in construction delays since Indian developers want to ensure that they don’t have a large number of unsold units in their ready buildings.

Mumbai’s Luxury Residential Micro Market- South Mumbai

Mumbai has basically two luxury micro markets- South Mumbai & Central Mumbai. The South Mumbai market consisting of areas like Malabar Hill, Cumbala Hill, Napean Sea Road etc. is an evergreen market with severe paucity of land and an insatiable appetite for luxury development. Price points of INR 50,000 per sqft are fairly common in this market.severe paucity of land and an insatiable appetite for luxury development. Buyers usually are Indian HNI businessmen (upgrading from old constructions to new fully loaded, feature rich towers), NRIs and well-heeled professionals. They usually take very small bank loans (often for tax efficiency) and are not affected by interest rates firming up etc.

Trump Tower, Hughes Road: Donald Trump plans to bring his signature of luxury homes to Mumbai on Hughes Road in south Mumbai. The Trump Towers are being developed along with Mumbai-based developer Rohan Lifescapes. The 60 storey Tower will have 5,000 square feet apartments overlooking the Arabian Sea. The tower will have around 45 apartments and the lifestyle amenities will include a luxury spa, gymnasium and a mini-theatre. It will be interesting to see whether the design or the development will have anything unique or whether it will be a just a case of Mr. Trump charging a hefty royalty fee for his brand. According to market sources given the small amount of flats and the novelty associated with the Trump brand name, the development may fetch a 20-25% premium vis-a-vis neighbourhood developments in South Mumbai. Read more… »

September 19th, 2011  Posted at   Real Estate
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Are you looking for condo options in Miami’s Design District? What is Miami’s Design District? This refers to an area north of Downtown Miami, between Northeast 36th and 41st. The area is fittingly named since it is a district full of retail “design” companies, including art galleries, showrooms and other craft stores. Not only is the company known for its retail offerings but also for popular events that occur once a year. This is as much a prestigious area as it is a commercially successful one, since many top designers have frequented the area, including designers like Ann Sacks, Holly Hunt, Fendi Casa and Bussandri.

Right now there are 125 tenants working inside the Miami Design District, however significant growth is expected to continue as 2009 approaches. The area is becoming ideal grounds for condominium projects. There is already work being done by professional architects and designers in order to re-envision the neighborhood as a more crowd-friendly environment. After these condo projects are completed, the District will be able to prosper like never before.

You may wonder what effect this commercial project will have on the artistic soul of the community. A beneficial one-in fact artists are excited about the possibility of all these potential buyers coming through. On the other hand, the presence of a strong artistic community is also changing the way interior decorators go about creating a condo home. Art is in the air around the Miami Design District!

You now have the chance to buy real estate inside the Miami Design District. The property is something to behold, as it is rich on scenery because of ocean and city views, and also a thriving area for art and commerce. Some of the recent properties that have been put up on the market include the Cite of the Bay, Neo Lofts and Onyx on the Bay.

Your first reaction to such exciting real estate opportunities is probably concerns about the cost. After all, don’t condos and other real estate properties in Florida sell for millions of dollars? They usually do, but in 2009 prices have dropped considerably and now buyers are finding properties as low as $300,000. Read more… »

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