Real Estate

The high range Real Estate Market in the Costa del Sol

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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).

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Real Estate

Can we actually still speak about a "Greek estate property market"?

By Vassiliki Tsigarida, ASnetwork

The recent Law 4093/2012 ("Memorandum III") has imposed major horizontal cuts to salaries and pensions. The purchasing power of the average Greek citizen is in free-fall and this leads, among other economic and social consequences, to an alarmingly extended stagnancy in the volume of sales and lease transactions. At the same time the number of units remaining closed and unexploited steadily rises.

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Real Estate

Germany: property prices are on the rise, rents are stable

By Dr. Reinhard Nacke, FPS Rechtsanwälte & Notare

Unlike other European countries, property prices are on the rise again in both Western and Eastern Germany. From March 2007 to August 2012 the price for new residential properties rose by nearly 25% whilst rents only increased moderately. In some cities the rise over the last couple of months could be described as dramatic. Some analysts are convinced that in this regard the German bubble may yet burst.

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Real Estate

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).

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Real Estate

The use of an SCI to acquire property in France

By Prof. Robert Anthony

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.

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Real Estate

Financing of Windpark

By Dr. Reinhard Nacke

The last meeting of the GGI Practice Group Real Estate being held in Leiden/NL under others discussed how banks financing windparks can sufficiently be secured by transfer or title in the turbines. The problem arises if as in most cases the turbines are built on rented ground. This can have as a consequence that they become property of the ground owner due to the fact that they are qualified as buildings. This is no problem in those countries where the piece of ground and the building on it can have different owners as this is the case i. a. in the Czech Republic, in Denmark, India, Malta and Japan. In other countries like Bulgaria and Germany, however, this is a very major difficulties which can lead to problems with financing of a windpark and in the end can endanger the whole project.

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Real Estate

Energy Performance Certificates in Hungary

By Dr. Zita Orbán, Kovács Réti Szegheő Attorneys at Law

As from 1 January 2012 providing buyers/tenants with energy performance certificates became statutory also in respect of Hungarian private buildings pursuant to an amendment of the governmental decree regulating the certification of the energy performance of buildings.

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