Archive for the ‘Europe’ Category

Ridiculous prices welcome ridiculous comparisons

Monday, December 2nd, 2013

Did you know you could buy nine mansions in France for the price of one boarded up Vancouver tear down?

Of course you might have to live in closer proximity to fresh baked croissants if you choose the French route, but at least one of them comes with 400 acres of land which should give you some buffer if you find that scent offensive.

PriceyPads ran this comparison and includes some beautiful pictures in their post.

Of course this is Vancouver so that’s an ‘asking price’, which may or may not bear some some relation to reality.

Just like craigslist rents, sometimes we get carried away with our asking prices.

You might remember the story of the extremely expensive listing in West Van with pictures of an imaginary house in the listing.

The asking price on that one was just south of $38 million.  That was the asking price.  The selling price was a bit less, well nearly $30 million less actually.

The Ghost Town Tax

Tuesday, August 20th, 2013

Are empty homes bad for a city?

Some people think so, and in parts of London they’ve decided to heavily tax owners of empty property:

Camden council, a Labour-run authority in north London, which covers Primrose Hill, wants to charge owners of homes that have been empty for more than two years double the normal council tax in a bid to return vacant properties to use.

The scheme has already had some impact, with owners of empty properties being charged 50 per cent extra, but the council has now suggested a further increase could bring back almost 200 homes to use. Since the council introduced a 50 per cent extra charge last year, the number of long term empty houses has fallen from 248 to 162.

Read the full article over at the Telegraph.

Buy a house, get residency

Monday, January 21st, 2013

Spain is the latest real estate bubble country to consider giving extra residency privileges to foreigners who buy property.

If they go ahead with this plan they would join Portugal, Hungary and Ireland.

Greece is also considering a similar measure.

The Spanish proposal is the cheapest so far, requiring only a $200k real estate purchase:

The Spanish government is considering offering residency to foreigners who buy property worth about $200,000 or more. With discounts as deep as 50% along the Mediterranean, a 1,100-square-foot three-bedroom beachfront apartment in Alicante goes for $130,000. Or how about a 1,200-square-foot four-bedroom with a view of Barcelona’s skyline for $175,000? A few miles inland, a two-bedroom house goes for $90,000.

The idea is to attract buyers for an estimated 700,000 empty homes scattered across Spain’s landscape, the remnants of the nation’s dramatic housing boom-and-bust. The offer is aimed at Chinese, Russians and Americans, who are usually limited to a three-month tourist visa in most parts of Europe.

Full article in the LA Times.

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