Luxury Hotel Complex Recieves City Bailout

Luxury Hotel Complex gets $8 million "loan" from city council

While the Federal Government Inc is busy bailing out the financial institutions, further down the food chain, bailouts for luxury developments at the state and city level are becoming the norm. The unfortunate necessity of these bailouts is presenting a quandary for all concerned. The intention of the city councils when they allowed these luxury […]

Luxury Home in Florida to be Auctioned Off

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Concierge Auctions will conduct a luxury real estate auction of a 5,590 square-foot home in the exclusive golf and country club community of Isleworth near Orlando, Florida on April 4. Located at 9815 Laurel Valley Drive, the property was originally listed for $3.495 million and then reduced to $1.75 million, but has failed to sell. […]

Luxury Home Builders Turn Mortgage Brokers and Insurance Agents

Toll Brothers Insurance Company Inc

Two new schemes from luxury home builders aimed at bolstering the market have just been announced, one in the UK and one in the USA. Toll brothers, one of the largest luxury home builders in the US, announced their “mortgage protection plan,” this week. According to their press release: “The Mortgage Protection Plan is provided […]

Terrazas De Coson – Luxury with an “Eco-chic” lifestyle

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According to Terazas de Coson, “life in the Dominican Republic just got a little greener.” I make no comment on the “green-ness” or otherwise of a resort that must be traveled thousands of miles to to be enjoyed, but this one does seem to be making more of an effort than the usual “sustainable,” claims […]

Burj Dubai Reaches Final Height

Burj Dubai Tower Reaches final Height

The Burj Dubai has reached its final height of 818 meters. The final height had been kept secret until last week, presumably in an effort to keep competitors on their toes, although all of the possible competition for the world’s tallest tower have now been cancelled courtesy the credit crunch. The Burj Dubai is currently […]

England’s Most Expensive Property Hit By Credit Crunch

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Just a few short months ago, Sandbanks, an exclusive peninsula in Dorset had the fourth highest land value in the world. The main road was known as “Millionaire’s Row,” and in 2007 a small bungalow (one storey building) sold for £4 million. But times have changed and plots earmarked for lucrative new luxury developments are […]

Luxury Condominium Development in New Zealand – Penthouse Reduced in Price by Over 30 Percent

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The Stamford Residences in Albert St, a NZ$100 million luxury condominium development above Auckland’s Stamford Plaza has managed to sell only 2 units from 149 available. An administration worker in the office of the Stamford Residences confirmed that only two sales had been completed and the owners had moved in. Back on November, Stamford Property […]

International Luxury Real Estate News Roundup

"I promise no more boom and bust economics" Gordon Brown 2007

Global Downturn Dooms Prestige Construction Projects, reports Der Spiegel and asks the question whether this spells an opportunity for sustainable building? I must admit to have never really understood the use of the term “sustainable,” which seems bandied about by almost every developer. In fact, many of the spectacular construction projects that have recently been […]

Russia’s Financial Woes Mean Cancelling Norman Fosters Projects

Russia Tower Scrapped

Shalva Chigirinsky, the property magnate behind three of Foster & Partner’s major Russian projects has dropped all three, after a series of economic disasters hit home. This weekend, Chigirinsky announced that he had run out of money for the 600 meter tall Russia Tower, which had been touted as Europe’s tallest skyscraper. Building work on […]

Trump International Hotel and Tower in Dubai Delayed

Trump Tower Delayed

Work on the Trump International Hotel and Tower on Palm Jumeirah, Dubai, has been stopped and the project delayed indefinitely. Nakheel, the Dubai-government owned developer, announced the delay on this and several other flagship projects on Sunday. The company issued a statement, saying, Nakheel is delaying long-dated infrastructure work on some of our projects in […]