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).
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.
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.
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 House prices in Budapest superseded the national index, increasing by 6.88 per cent (7.63 per cent inflation-adjusted), although prices remain well below their pre-crisis peak.
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.
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.
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.
By Santiago Lapausa, Javier Carretero y Asociados – Abogados
For the past 11 years, the World Economic Forum has engaged leaders in travel and tourism to conduct an indepth analysis of the travel and tourism competitiveness of 136 economies across the world; a report on this subject is published every two years. In the last report, “Trips and Tourism Competitiveness Index 2017”, Spain achieved 1st place as the leader in world tourism, for the second consecutive edition.
By Adam Gross, Memery Crystal LLP
The Standard Conditions of Sale (for residential) or Standard Commercial Property Conditions (for commercial) (together, the “Standard Conditions”) are usually included in contracts for the sale and purchase of property. Both contain the right to terminate where one party fails to complete on time. To exercise this right, time must first be made of the essence. Where time is not of the essence in agreements (whether expressly or implicitly), time is made of the essence by a party being ready, willing and able to complete and serving a notice to complete. Such a notice usually gives the other party ten working days (excluding the day the notice is given) to complete.
By Gary J. Freedman and Vanja Habekovic, Ervin Cohen & Jessup LLP
As the world’s economies continue to struggle making investments and seeking business opportunities internationally, a critical analysis of how to structure, finance, operate, grow and eventually liquidate the opportunity is imperative. Ambitious plans are often derailed or delayed and certainly made more costly, because at the outset the crucial aspects and phases in the life cycle of investments, whether real estate or business, have not been carefully considered.
By Joe McCall, Byrne & McCall
In a bid to stimulate transactions in the Irish property market, the Irish Government has introduced a measure that may be of interest to investors who see value in the Irish real estate market.
By Raffaela Lödl and Mario Kapp, KAPP & PARTNER
The Austrian Property Development Contract Act (Bauträgervertrags- gesetz: BTVG; dating back to 1977) applies to real estate contracts in which the buyer makes payments of more than EUR 150,00 per square meter of floor space before the completion. The outstanding construction constitutes the main difference to a general pur- chase of an exisiting property. Due to possible risks of those transaction, the Austrian legislator created a special law, which seeks to protect buyers of properties under-construction from the loss of their advanced payments.
By José Luis Rodriguez, Javier Carretero y Asociados Abogados
Only a few years ago, the construction of High Range holiday homes was a small segment of the real estate market in the Costa del Sol. Actually, this segment is the only one that survives, generating wealth and employment in an area that comprises Marbella, Benahavís and Estepona (Costa del Sol, Southern Spain).
By Matthias Könke, AIOS GmbH
Since the fall of the Berlin Wall in 1989, the city of Berlin and its housing market have witnessed fairly volatile developments. The years until the middle of the 1990s were euphoric, followed by a slump and stagnation until ca. 2010. Since then, prices have gone up again due to low interest rates, money inflow from other countries and the increased attractivity of Berlin in general.
By Tilo Drebes, AIOS GmbH
Since the Fall of the Berlin Wall in 1989, the city of Berlin and its housing market have seen quite a volatile development. With a population of around 3.4 million that year, expectations were that this would increase to more than 4 million as a result of the German reunification and the respective economic impetus. Consequently, real estate prices between 1989 and ca. 1995 soared.
By Tilo Drebes, AIOS GmbH
Since the fall of the Berlin Wall in 1989,the city and its housing market have experienced quite a volatile development. The years up to the middle of the 1990s were euphoric, followed by a slump and stagnation until around 2010. Since then, prices have gone up again due to low interest rates, money inflow from other countries and the increased attractiveness of Berlin in general. Berlin currently has 3.5 million inhabitants. Projections of the population in the year 2030 vary between 3.6 million and 3.9 million.
By Dr. Martin Lechner, Pichler Dejori Comploj Partner
After two tough years in which the property tax paid by owners of Italian real estate dramatically increased, the Italian Parliament just passed a bill that will at last give breath to an exhausted real estate sector.
By Hed Amitai, Alex Barnes and Rich Risino, Memery Crystal LLP
April 2019 marks the completion in a step change, started in 2012, to “level the playing field” in how gains in value realised on the disposal of UK-sited real estate are taxed.
An SCI (Société Civile Immobilière) is frequently used as a means to acquire property in France, and is appropriate for both French fiscal residents just as it is for non-residents. A "société civile immobilière" is a civil company having by definition its registered office in France, for it to then acquire property. The SCI, being a civil company, is owned by 'associates' who, in the majority of cases, are members of the family, so indicating that the overall ownership of these SCIs is affected by private individuals.
By Paul Simmons, Haines Watts
Does UK property still present a path to robust returns for investors in 2015? Can the UK property growth seen in recent years be sustained? Property still features strongly in the UK pension and investment portfolios of business owners, but there’s one word upon which this sector’s growth hangs – stability.