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NBA San Antonio Spurs basketball star Tony Parker has bought an apartment in the luxury “Du Parc Kempinski Private Residences” above Lake Geneva, Switzerland, which looks out onto stunning views of the Alps. “Du Parc Kempinski Private Residences” was a former Grand Hotel that was built in 1906, in the architectural mould of the Grand [...]
Despite another drop in building permits being issued in the third quarter of 2009 – a few luxury housing starts have been announced in Bulgaria.It is all too easy to concentrate on a single market, but the global nature of the financial crisis is something to take into consideration when planning for the future. Q3 [...]
Tishman Speyer Properties (of recent Stuyvesant Town Infamy) has sold out a luxury condominium tower in San Francisco. According to Reuters – this is a sign of pent-up demand in that city’s housing high-end market, especially among first-time home buyers. The Infinity San Francisco development has fully closed out its 237-unit Tower I, while its [...]
Things are continuing to get ugly in the luxury condo development world as the credit crunch continues. I suspect 2010 will be the year of the record lawsuits, but 2009 is shaping up nicely. It is still anyone’s guess just how long Donald Trump will be spending in court over the next couple of years, [...]
Hawaii luxury condos hit by recession and swine flu The Hawaii luxury condo market is taking a beating along with the rest of the luxury real estate markets, with rising foreclosures, but this is causing issues for those in good financial standing as well as those foreclosed upon. The amount of foreclosures is meaning that, [...]
Las Vegas luxury condos – at a 78% discount? If a 78% price drop in Las Vegas luxury condominium prices sounds either too good to be true or your worst nightmare (depending on whether you bought back in 2006 or not), you will find this article of interest. Much of the current stagnation in the [...]
The luxury condominium market is certainly taking a beating at the moment. If there is a segment that was most over-built during the boom years, this is it. The slow build time on larger multi-unit developments means there is still a lot of unfinished stock entering the market. When one takes into account the existing [...]
Is it really possible to buy a luxury condominium at a more than 90% discount? If you happen to be a vulture investment fund in Miami, then the answer is yes. A recent sale in Miami demonstrates this very well. 51 units in the Regent Bal Harbour luxury condo/hotel development have just been sold to [...]
A $12 million luxury condominium project in Loudonville, NY has been stopped indefinitely and the developer is saying “luxury living and this market just don’t mix.” The project was started October 2008. Two weeks later, the financial world collapsed and has yet to recover. Buyers suddenly couldn’t access financing and withdrew their letters of intent [...]
If there is a sector of the real estate market that was heavily overbuilt during the boom years, it is the luxury condominium segment. Arguably more over built than even the golf communities, the slow bring-to-market times are seeing a glut of new condos from Miami to Michigan and all places in between. One thing [...]
