Real Estate

Beverly Hills, USA

Non-Recourse Guaranties

By Albert C. Valencia, Ervin Cohen & Jessup LLP

Despite the name, “non-recourse” real estate loans have the potential to increase personal liability due to the so-called “bad-boy provisions” that are included in non-recourse carveout guaranties, often required by lenders to be delivered by the borrower’s principal(s) as a condition to making the loan. Examples of bad-boy acts that would give rise to personal liability of the borrower’s principals could be waste, unpermitted transfers of the property or the interests in the borrower, or the misapplication of funds. These bad-boy provisions serve to make the principal(s) personally liable to the lender in the event of a default by the borrower under the loan and are intended to protect lenders from certain wrongful acts of the borrower that would limit the lender’s ability to be repaid from the borrower’s assets, which assets are often solely the borrower’s ownership interest in the real property securing the loan.

Non-Residents Buying Property in South Africa

By Elistea Vrey, Heyns and Partners Inc

With a beautiful coastal line, sunny skies and an advantageous exchange rate, investing in property in South Africa is a beneficial opportunity.

Opportunities for developers and investors in re-vitalised Scottish onshore wind market

By Andy McFarlane, Wright, Johnston & Mackenzie LLP

The least of Donald Trump’s worries on his recent world tour will have been the mockery of his predictions of the impact of wind turbines on Scotland’s tourism industry, but as he arrived for a relaxing weekend at Turnberry the renewable industry’s leaders were keen to join his ever-expanding throng of critics.

real estate

Opportunity Zones: Taking Advantage of US Emerging Markets

By Tony Constantine, Ciuni & Panichi, Inc.

The United States’ opportunityzone programme encourages investment into what Senator Cory Booker describes as “domestic emerging markets”. The programme is a departure from traditional economic-development programmes. It provides taxpayers with the ability to redeploy unrealised gains for the purpose of revitalising distressed areas without an immediate tax burden.

Mumbai, India

Overview of the Indian Real Estate (Regulation and Development) Act, 2016

By Ruchi Khatlawala Pandya, Little & Co.

The recently passed Real Estate (Regulation and Development) Act, 2016 (Act) and rules thereof which came into force on 1 May 2017 has been notified in various states and union territories across India. This Act marks the beginning of a new era in which the buyer will be the king, while developers will also benefit from increased buyers.

PR 2011 No. 11

Fünf Regeln für ungetrübten Ski- und Snowboard-Spaß

Salzburg

Procedure for Purchasing Real Property in Austria

By Mario Kapp and Raffaela Lödl, KAPP & STRIMITZER Rechtsanwälte GmbH

As a consequence of the Austrian ‘intabulation principle’ the actual acquisition of a house, a plot or a freehold apartment only takes place upon the registration of the buyer in the Austrian land register. Getting there involves several key legal steps. Therefore legal advice should be obtained, especially in the following areas:

New commercial building for sale at Udonthani city in Udon Thani, Thailand

Property in Thailand: A Mixed Bag

By Paul Gambles, MBMG Group

Looking at the Bank of Thailand’s house-price index shows an unchecked 64% rise in the last ten years. But that doesn’t go anywhere near to telling the whole story.

Property in Thailand: a sound place to invest?

By Paul Gambles, MBMG Group

With its year-round summer climate, friendly people and a relatively low cost of living, Thailand has become a soughtafter place to live. Despite increased supply, average condominium prices have gone up by over 50 per cent since 2009.1 Yet, at an average of around USD 3,500 per m2 (about EUR 3,200) for a city-centre apartment, Bangkok still represents relatively good value (see chart).2

Opatija, Croatia

Purchasing and Selling of Real Estate in Croatia

By Biljana Svaljek, Infokorp d.o.o.

Becoming a part of the EU made it easier to purchase real estate in Croatia. Although the country is not large, it has a diverse territory, including many islands. Therefore, each year, interest in purchasing real estate for various touristic services increases. There are several things that must be considered when purchasing and selling real estate in Croatia.

Real estate facts and opportunities

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By Seres Baum, Grupo Work

As seen on CNN and other news media, over two million people from 176 countries around the world own extraterrestrial property.
To date, more than 300 million acres of land on the Moon have been issued to individuals and corporations, representing transactions amounting to over $6 billion (US dollars). While accountants, lawyers, and general consultants are still struggling to find the best approach to such investment accountability, juridical classification and the best valuation method, psychology and real estate specialist are trying to figure out why people have been investing in real estate (on our planet for a while).

Innsbruck city center, river Inn and Tyrolian Alps

Real Estate Financing in Austria

By Raffaela Lödl-Klein and Mario Kapp, KAPP & PARTNER Rechtsanwälte GmbH

The real estate market in Austria is flourishing; both the volume of sales and the value of sold real estate have increased continuously in recent years. Further growth on all fronts is expected for 2019: more demand and higher prices, though only a minimally growing supply side, especially with regards to land for building and single-family homes. The choice of the right type of real estate financing is of key importance in this context.

Real estate investments in Germany – positive outlook for 2014

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By Dr. Justus Westerburg & Christopher Blumenthal, Nörenberg • Schröder

With an estimated transaction volume of EUR 26bn, the market for commercial real estate in Germany continued to grow in 2013. The estimated transaction volume of housing real estate amounted to EUR 15.8bn, reaching a 10-year high.

Salzburg, Austria

Real Estate Rights and Registration in Austria

By Raffaela Lödl-Klein and Mario Kapp, KAPP & PARTNER Rechtsanwälte GmbH

The Austrian legal system (General Austrian Civil Code of Law, ABGB) provides for various types of holding rights and “property-like” rights.

Real estate sector: forecast for Spain in 2013

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By Maria José Rubio, JC&A Abogados

The real estate market in Spain still has a lot of recovering to do.Demand is expected to remain low due to the lack of financing, and there will be a large stock of properties for sale. Recent studies show that, in spite of the continued price cuts, the sale of real estate will not pick up again until employment is generated because, realistically, employment is the factor that stimulates consumption. Generation of employment is not expected until the end of 2013, which means that the revival of real estate development and property sales will only start in 2014.

Real Estate Today – The Art of What To Do

By Prof Robert Anthony, Anthony & Cie

It was a great pleasure when I was asked to present a series of TV broadcasts on TV Art Live Monaco and Luxe TV Italy. The first broadcast ‘The Art of Financial Vision’ was transmitted live via Facebook and Instagram before being rebroadcasted on cable TV in Monaco and sky 862 Italy.

Recovering property market in Hungary

By Dr. Beáta Szegi, Kovács Réti Szegheõ Attorneys at Law

Property prices have risen over the past year, with the 2014 increase being the first significant rise since 2008. The national house price index rose by 6.68 per cent (7.42 per cent inflation-adjusted) during 2014, according to the Hungarian Central Statistical Office (KSH). House prices in Budapest superseded the national index, increasing by 6.88 per cent (7.63 per cent inflation-adjusted), although prices remain well below their pre-crisis peak.

Rent Control in the United States

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By Olivia Lamoureux and Martin Daesch, Sandberg Phoenix & von Gontard

In the United States, rent control is not a popular regulatory concept. Indeed, other than landlocked New York City, the concept is almost non-existent and has been prohibited by statute in most states, while only four states and the District of Columbia recognize lawful rent control for cities that wish to adopt this regulation. Where rent controls exist, they have taken two forms. The first type is the "first generation rent control," which has caps on rents at an amount below market rates. The second type, called "second generation rent control," permits the rent amount to be chosen when a tenant moves into an apartment, but limits further increases so long as the tenant continues to occupy.

Required BEA report filings under U.S. LAW

By Edward G. Kluiters, Haynsworth Sinkler Boyd, P.A.

The United States Bureau of Economic Analysis (BEA) requires surveys on U.S. direct investment abroad and foreign direct investment in the United States. The term investment includes the ownership of real estate. The BEA uses these surveys to produce statistics concerning international transactions and direct investment positions, activities of multinational enterprises, and new foreign direct investment in the United States.

Silver lining for Greek estate market?

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By Vassiliki Tsigarida, ASnetwork

Tlthough in April 2013 the leaders of the Greek coalition government approached the troika representatives with the proposition of replacing the multiple taxation on property with a single, gradual rate, the outcome of the relevant negotiations was not successful.

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