The Most Expensive Flat In Britain

The Most Expensive Flat In Britain

Sometimes even us seasoned investors are amazed by how different some of the international markets are compared to the New Zealand Real Estate Market. Being the owner of a $2.5 million dollar Penthouse I often take a peek at what is selling around the world in the Penthouse market. Just a few days ago the herald ran an article featuring what is now the most expensive flat in Britain. It falls a long way short of the most expensive apartment or flat in the world but the price tag is pretty impressive to say the least and is many many times more expensive than New Zealands most expensive apartment. Here is the article…. A three-storey penthouse overlooking Hyde Park has been sold for £136 million ($277 million), becoming the most expensive flat bought in Britain. An unnamed buyer, using lawyers in Ukraine, has bought two apartments in the newly opened One Hyde Park development in Knightsbridge. They have been knocked into one to create a 2300sq m penthouse with a wine cellar and access to room service at the neighbouring Mandarin Oriental hotel, documents filed last week at the Land Registry show. The price eclipses the value of landmark properties elsewhere in the world. In Beverly Hills, the 1.5ha Hearst mansion, where John and Jacqueline Kennedy honeymooned, is on the market for US$95 million ($119 million). And in Manhattan, luxury apartments in the Plaza hotel overlooking Central Park cost a little over US$50 million. One Hyde Park has been developed by thirtysomething brothers Nick and Christian Candy, who began their property career with a £6000 loan from their grandmother...

Should You Buy, Sell or Rent?

Should You Buy, Sell or Rent? It’s not surprising with everything we’ve written about house prices in recent weeks, your editor has gotten plenty of emails asking for personal advice. Unfortunately, I can’t give individual personal advice. But what I can do is repeat what I’ve written here several times before. If your finances aren’t stretched – and you believe you’ll keep your job – then unless you want to lock in a profit on your home, you may be better off not selling… even if it means seeing the value of your home fall. On the other hand, if you’re paying out a high proportion of your income on mortgage repayments and you’re concerned about servicing the loan, then you should seriously consider selling up and getting out. That could mean renting somewhere. Or if you think prices will fall, but you’re not entirely convinced, then you should at least think about moving to a smaller or cheaper home. At least that way you’re reducing your debt level and you still get to stay in the property market – even though the value will fall. Is it worth it? If you’re an investor, there’s no getting around it. You’ve got to do the numbers. Are you really making as much on that investment property as you think you are? Is it really worth financing a property for another ten years with an interest-only loan? Look at the numbers. For most property investors it means sacrificing income now in favour of capital gains in the future. If there aren’t any future capital gains then why are you sacrificing current...
Why Now Is Not The Time To Invest In Australia

Why Now Is Not The Time To Invest In Australia

Why Australia is Set to Follow US Path of House Price Doom by Kris Sayce on 25 March 2011 Money Morning reader David wrote us an interesting note about the fall of house prices in the UK: “I remember living in the UK sometime around 2006 – 2007 and house prices, like Australia now, were overvalued. As soon as property went on the market they sold at crazy prices… “Just as you predict here in this email house prices crashed about 18 months after their peak. “The media blamed it [falling UK house prices] on the world financial crisis, which did have an impact but they were already on their way down. “So many people forget a house is only worth what someone is prepared to pay for it.” As time passes there’s always the tendency to compress events. Looking back now, it’s easy to think all the economic problems started in September 2008… around the time Lehman Brothers collapsed. But that’s not the case at all. For starters, the stock market peaked in October 2007. By the end of September 2008 – before Lehman collapsed – the Aussie stock market had already fallen 27% from the peak: Source: Google Finance Of course, the Aussie market fell another 35% before reaching rock bottom in March 2009. Or take the fall in US house prices. That didn’t start in September 2008. In fact, it didn’t begin in October 2007 either. In August 2005, The Times ran the headline, “US heading for house price crash, Greenspan tells buyers.“ His warning came just a few months before his retirement. After years of...
What To Invest In

What To Invest In

Many investors are asking, “what’s the right type of investment for this new era?” After all you’d have to be living under a rock not to realize that our property markets will be very different in 2011. If having survived the last few years of turbulent times in property, finance and the economy has taught us anything, it’s that we need to start taking a different approach to money, how we value it, procure it and use it. So back to the original question – what’s going to be the best investment in the years ahead? One thing is certain: If somebody tells you they have found “the perfect investment” be very skeptical and ask lots of questions, because chances are they’re trying to sell you something you just shouldn’t buy, After all there is no such thing as the perfect investment. The things I look for are: • liquidity (the ability to take your money out by selling your investment); • securable (the ability to borrow against your investment);? • easy management;? • strong, stable rates of capital appreciation;? • steady cashflow;? • a hedge against inflation; and? • good tax benefits.? When you look at the major asset classes, you will recognise that not many fit the bill when it comes to all six of these criteria. Michael Yardney uses a couple of terms when describing what he thinks of as the 2 main attributes an investment should have… The instability of our world economic markets and the fickle nature of our local markets means that you’re going to have to invest in assets that are both...
Excellent Value

Excellent Value

With other similar properties selling for $50,000 or more over and above the asking price of these 2 little beauties this would be a great way to get into an investment property. Brand new release townhouses Estimated completion 6 weeks. Located in leafy part of Coomera on the Gold Coast Best side of the Freeway 3 bedroom + 3 bathroom Limited release, so be quick! Bank Valuations within 3% Weekly Rent $360 to $370 We have 2 available at $299,000 so they won’t...