High Estates

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Because of this, the areas that are surrounding the prime areas are driving the infrastructure and construction boom in the city. The real estate builders are trying to tap on this sentiment by upgrading the transport linkages between the new areas and the prime areas to help improve their property prospects.

For instance, a new bridge has just been built to connect Kalyani Nagar and Koregaon Park. This bridge will cut the distance between these two places by half an hour so that professionals who are employed in Koregaon Park can find affordable residences in Kalyani Nagar. This idea seems to be working well.

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Pune city is buzzing with real estate activities to accommodate industrial, commercial, and residential areas. It is witnessing new heights in new business activities like the ITES and IT industry as well as the BPO sector.

Prime areas of this city like Koregaon Park, Model Colony, Hinjewadi, and Deccan Gymkhana command the highest values of real estate in the city. Moderate property rates can be found in new areas like Nagar road, JM road, FC road, Wakdewadi, Shivaji Nagar, Kalyani Nagar, and the Camp. In these areas, you can find land, apartments or flats that only range between Rs 3,000-4,500 per square feet.

There is a mortgage crisis in New York, not only in low cost houses, but also in homes that are valued $500,000 or more.

Real estate agents say that lending activities in the area has fallen dramatically even during this peak season, when buyers and sellers should be busy. Mortgage bankers say that the change is due to tighter financing. Since the borrowers are starting to find it hard to get lenders who will fund big amounts of financing, they do not bother to buy at all. And even when they do, they usually end up in banks charging as much as 9% in interest.

A research firm focused in real estate, Global Property Guide, issued a report that ranks the most expensive properties in Europe. The list includes London, Paris, and Amsterdam. But to top them all is a small wealthy place having the most expensive real estate in Europe, and it’s called Monaco.

The prime properties of Monaco are located in its area known as Square of Gold, which is close to Place Du Casino (also a world famous destination). It’s in this place where you will find expensive apartments, penthouses, villas, and townhouses, some of which are overlooking the harbor and the Formula 1 circuit.

Real estate in Hong Kong is already one of the most expensive properties in the world. The highest land which is called The Peak measures at 1,811 feet above sea level. It has a lavish reputation; in fact the local headlines claim that it is already the most expensive residential land in the whole world!

The land auction of the government for 12 Mount Kellett Road sold for $231 million, which is 134% of the opening bid, translating to $5,417 per square. And this is just the land. Why the high price? It’s the principle of supply-and-demand. Aside from the fact that this neighborhood has the lowest density throughout Hong Kong, property here comes available infrequently so that some of the richest in the world line up to buy.

Forbes.com released a list of the most expensive blocks in the country. This was derived by getting the 100 most expensive properties in the city, mapping them geographically, and then measuring the concentration of high priced home values in each area. They used tax records, property records, and an algorithm to calculate the market value. They also took into consideration the homes that have not been recently appraised or sold. They even confirmed the data findings with the city’s luxury brokers to make sure.

Some of the cities who made it to the list are: Central Park in New York, views of the bay in San Francisco, Lake Washington in Seattle, and water homes in Miami.

Council leaders said Church Hill in Redditch needed the new shops and other services to help prevent anti-social behaviour there.

The area, which has 10,000 residents, was chosen above three others in the town to have the revamp.

The plans will include having a high street on both sides of the street to encourage more businesses to the area.

New car parks will also be built.

Source:� news.bbc.co.uk

MANHATTAN HOUSING - I expect a slower than normal wall street bonus season in the months of JAN - APRIL, in terms of buyer demand. As for bonuses, yes I think they will be given out (with some departments seeing drastic cuts in bonuses) but its HOW THEY ARE SPENT that I’m a bit concerned about. I expect inventory to build as we near summertime, as a result of a slower than normal bonus season, and wall street to deteriorate as we get more clues about whether we are in a recession or not. As wall street falls, so will confidence and demand on the buy side for Manhattan real estate products. At the same time, we will see more types of sellers contribute to inventory builds toward the end of 2008; speculators, foreign buyers flipping, second home’s selling, and struggling buyers who bought a bit more than they can chew or whose job security has changed to the negative. I expect job losses to grow during the first two quarters of the year as a result of the credit crisis and hit to the financial sector, leading to what I described above.

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