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Finance

First-time buyers choose location over space

Unlike families in London who are dispersing into the suburbs for bigger space, Millennials are purchasing property within the capital, preferring location over space. According to Hamptons International, the number of inner London homes (Zones 1-3) sold to first-time buyers rose by seven per cent to 35 per cent from 28 per cent pre-lockdown. In contrast, the number of homes sold in outer London (Zones 4-6) fell by five per cent to 31 per cent from the previous 36 per cent sales. According to the latest data, the average age of first-time buyers in the UK is 34 years old which

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News

What will a post pandemic property market look like?

We look at post-Covid work habits, a return to normal in residential housing marketplaces, how the retail business is recuperating from the epidemic Economics on a Global Scale The ongoing growth of the Delta variant of Covid-19, as well as operational problems, is slowing economic expansion in major economies. Other new variants, such as the one found in South Africa, could be even more dangerous.  Parts, equipment, and labor shortages, as well as inefficient and difficult shipping, are causing concern about inflation. We assume that any increase will be temporary, and that financial institutions will not be pushed to raise

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Finance

UK’s 3 Top Holiday Destinations – Places to Keep an Eye on for Holiday Rental Purchases

London What better way to enjoy the United Kingdom if not to stay in its famed capital city – London. City slickers will find pleasure strolling the streets of the city along the River Thames. The historical enthusiast, on the other hand, will find himself marvelling at the mere sight of the Tower of London, or of the millennium-old White Tower, the Buckingham Palace, and the Natural History Museum. Architectural breakthrough is also seen in buildings such as the Parliament Buildings, the Big Ben, and Nelson’s Column, all to the amazement of an artist’s keen eye to details. Edinburgh Scotland’s

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Singapore office market poised for recovery

In Singapore’s dynamic real estate landscape, promising signs of resurgence are emerging, particularly within the leasing domain for Grade-A office spaces. This positive momentum serves as a testament to the rebound witnessed in this segment of the property market, as underscored by the latest insights gleaned from CBRE Research. Amidst the evolving market dynamics, several factors have contributed to the surge in demand for Grade-A office spaces. Notably, corporate entities are seizing the opportunity presented by declining rents to upgrade their office premises, aligning with evolving operational needs and strategic objectives. Industries such as financial and asset management firms, technology

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News

COVID-19 and its effects on homebuying preferences in the UK

Close to the sea with a sprawling garden and a spacious garage—these are the kind of homes that UK homebuyers are currently looking for The COVID-19 situation has certainly changed the kind of properties Brits prefer, but with the easing of lockdown restrictions, former homebuying priorities seem to be making a comeback.  Rightmove, one of Britain’s top property websites, reported that Cornwall has become the most sought-after location on its portal, dethroning London from the top position. The shift in trends has also bumped Devon to third place, whereas Dorset moved all the way from the 20th to the 10th

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Hong Kong News

JLL: APAC commercial property transaction volumes to improve by 15-20% in 2021

The pandemic accelerated industry trends and revealed an exciting ‘opportunity in obsolescence’ in Asia’s commercial property sector As we enter the second year since the coronavirus pandemic wreaked havoc in the world, we are now starting to see some positive light. Outlook for commercial property in Asia is improving as industries stabilise and growth areas prop up demand for office spaces. Traditional sectors like finance and service were hit hard by the coronavirus pandemic, but this may not be fully attributed to the virus. Talking to Bloomberg Markets Asia, JLL APAC CEO Anthony Couse said that the pandemic only accelerated

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News

Why Penang still tops the Malaysian holiday home market

Next to Kuala Lumpur, Penang is probably the most highly urbanized island in all of Malaysia. It is home to more than 1.7 million Malaysians who enjoy high standards of living but with considerably minimal costs than that of KL. Although a haven of development, Penang still houses the charm of the old-world – breathtaking coastlines, lush greenery, nature parks, wild animals, to name a few. This is primarily the reason why both foreign nationals and locals are drawn to getting their prized properties in the region. Realty developments in Penang are mostly centred in its capital city, Georgetown. The

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UK News

Getting your house in order: the UK’s Register of Overseas Entities and why you should care

New UK legislation requiring overseas entities holding UK property to obtain a certificate of registration from a new central register from August 1st, 2022, has been approved by Parliament. Overseas entities will be able to gain a certificate of registration for free. However, failure to comply with the requirements will trigger severe penalties of up to two years in jail or unlimited fines. Whilst this is already in force, further real estate provisions relating to restrictions on dealing with UK property are due to be released on September 5th, 2022. What prompted the introduction of this legislation? The new rules

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News

When does the stamp duty holiday end? See how it works for second homes and buy-to-let properties

Second-home buyers and buy-to-let investors will potentially save thousands of pounds due to the stamp duty holiday. All property buyers benefit from the tax break announced by Chancellor Rishi Sunak in the summer of 2020, which was recently extended and tapered until September 2021. This means that those buying additional properties, such as a second home or as an investment, only pay the tax at a rate of three percentage points on the first £500,000 of a property’s price. Outside the holiday, these buyers would pay this surcharge on the first £125,000, after that they were charged 5pc on the

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Finance

Britain’s booming property market sees 13 buyers for every home sold

Agreed sales last month were up 57% compared to April 2019 Many estate agents are now immediately asking prospective buyers for their ‘best and final offer’ to prevent gazumping Experts said the industry is working around the clock and buyers are resorting to extreme measures to secure a home The surge in demand is largely due to ultra-low interest rates and stamp duty relief for homes under £500,000 Britain’s booming property market is producing record sales figures, with an average of 13 buyers for every home listed. Agreed sales last month were up 57% compared to April 2019, with many

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