Butterfly residential monthly luxury property news review, property news stories from around the world.

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Global Luxury Property Review
June 2013
Latest Luxury Property News from Europe
London Property Prices Set to Continue Rising
Over the next decade new build homes in Lambeth, Finsbury Park, Shepherds Bush
and Shoreditch in London could be worth an average
of £2,000 per square foot, according to new research
from CBRE.
The London residential experts estimate that the
£2,000 per square foot average pricing band for
developments will spread across the capital city by a
kilometre every three years.
‘High demand for luxury property in the capital is
pushing the £2,000 per square foot band outwards.
There is a limited supply of high end homes in
London, and new homes are being snapped up at
record rates,’ said Mark Collins, chairman of CBRE Residential.
Read more: www.propertywire.com

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New Residency Laws May Affect Spain’s Luxury
Property Market
Spain has confirmed the enforcement of automatic residency rights on the 1st of
January 2014 to foreigners who spend €500,000 or over on property anywhere in
the country.
Spanish residency gives buyers the ability
to move freely around 25 European
nations, already proving an attractive
proposition to Asian, Russian and Middle
Eastern buyers. The law adds a new
stimulus to the global market place. A
change of pace is expected as demand from
those who might have been hesitant to buy
before are now persuaded.
Some market analysts are predicting a
€100 million property investment in Spain
over the next 24 months. Portugal’s ‘Golden Visa’ scheme last year similarly
targeted high net worth buyers. Market surveys from the Royal Institution of
Chartered Surveyors (RICS) highlight the wave of new buyer enquiries after the
law was introduced, allowing Portugal’s housing market to stabilise.
Source: www.watchlistnews.com
Latest Luxury Property News from the Middle East
Dubai Property Revival Gathers Pace
Home prices in Dubai are climbing, with the average sale price of mid-range villas
soaring 47 percent in the year to May and mid-range apartment prices advancing
32 percent, according to data compiled by Cluttons LLC.
Emaar Properties has started two new projects and began expansion of its flagship
shopping mall as the developer of the world’s tallest tower leads companies
seeking to benefit from the rebound in Dubai’s real-estate market.
Read more on this story: www.bloomberg.com

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Israel Enjoys Surge in Real Estate Prices
Despite the ever-present threat of regional conflict, Israel has been enjoying a
surge in real estate prices of late, driven by the country's booming high tech
industry and a limited supply of prime property. At the very top end of the market,
builders are wooing buyers with luxurious amenities, such as a triplex penthouse
apartment atop the W Hotel in Tel Aviv featuring floor-to-ceiling glass, an
expansive walk-out terrace (on the 44th floor), a private elevator, and, to top it all
off, a private rooftop swimming pool with glass portals in the bottom to allow
indoor loungers to view swimmers from below.
Butterfly Residential came across this and other luxury properties on this website.
Latest Luxury Property News from the Far East
Luxury home price growth in Asian slowing
Luxury home prices in Asia posted further gains in the first
quartet of 2012 but the rate of growth has eased as
government property cooling measures have taken effect,
according to a new report from global research and real
estate consulting firm CBRE.
The CBRE Asia Luxury Residential index increased by 1.1%
quarter on quarter but among the 13 major city markets
tracked by the index nine saw only modest price rises of
between 0.7% and 3%.
Price growth was led by New Delhi and Mumbai which saw
gains of between 2% and 4% quarter on quarter due to a lack of supply. Other
strong performers included Manila and Kuala Lumpur where buying demand
remained firm. There was mild price growth recorded in Beijing, Shanghai,
Guangzhou and Shenzhen.
Read more: www.propertywire.com
Beijing’s Luxury Home Prices at 17-Month-High
The average price of Beijing’s luxury homes excluding town houses jumped to the
highest in 17 months in May, as wealthy buyers favored bigger properties under
the government’s purchase restrictions, a local agency said.
New-home prices in Beijing rose by 3.1 percent in April from the previous month,
More on this story: www.bloomberg.com

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Singapore: Popular Luxury Investment Destination
The much reported slowdown in the
Singapore property market has not damaged
the city state’s reputation as one of the
world’s most attractive luxury investment
destinations and savvy international buyers
are still drawn to high-end projects in prime
locations, according to this report.
With a population of five million, Singapore
has more millionaires per capita than any
other country in the world. On top of that, the
world’s mega-rich are shifting their wealth to
Asia, particularly Singapore, because of its relatively low tax regime, crime-free streets,
sound banking system and pro-business policies.
A recent CNN report even went further to suggest that Singapore could overtake
Switzerland as a tax haven by 2020 and this prediction would probably come true if the
US and Europe continue to be mired in economic uncertainties. The report also says that
an increasing number of Chinese, Indians and Indonesians are helping to shift wealth to
low-tax Asian centres like Singapore and Hong Kong.
Latest Luxury Property News from the USA
US luxury home market heating up
The U.S. luxury home market is being driven to new heights by relatively low
prices, low interest rates and a more stable economy than in many countries,
experts say.
Luxury housing agents around the nation are reaching out to international buyers.
Some brokers are working in conjunction with art sales in far-flung locales in Asia.
Bus tours for potential international buyers have been taking place in the Los Angeles
market for the past several years.
West Coast buyers in the $20 million price range are looking for the wow factor,
with one house being built in Beverly Hills will be surrounded by a moat.
Read more: www.ctpost.com

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Campbell’s Soup Luxury Estate on the Market
The luxury residence of Campbell's billionaire Jack Dorrance has gone on the
market more than 20 years after his death, according to this report from The Daily
Mail
The estate known as Linden Hill, which once housed the soup heir's vast collection
of more than $120million worth of art and over $100,000 in wine, is being sold off
by its current owner venture capitalist Robert Burch.
The property with eight bedrooms and ten bathrooms stands in a 50 acre estate in
Gladwyne, Pennsylvania, has been restored to its heyday by Burch and it now
resembles again the home John Dorrance Sr's son once acquired.
Tom Hanks selling luxury Los Angeles property
Tom Hanks is hoping to find a buyer for his Los
Angeles home which he purchased over 20 years ago
shortly after his success in comedy movie 'Big.' The
'Saving Private Ryan' star - who no longer lives in the
luxury property located in the posh Pacific Palisades
area - is keen to find a new buyer for the mansion
which he brought with wife Rita Wilson in 1988.
The home is described by Real-estate website
Zillow.com as a ''legendary'' Spanish-style villa built in
1928 and it boasts a private beauty salon as well as a
terrace with views of the ocean.
Further reading: www.contactmusic.com
About Butterfly Residential
The Global Luxury Property Review is a monthly article compiled for Butterfly Residential
offering a snapshot of the sector. Butterfly Residential is a boutique, professional, high-end
property company specialising in sales and rental of luxury property Marbella, London, New
York, Brazil, Italy and Barbados, among others.
Address: Avd. Ricardo Soriano 72, Edf. Golden, Portal C, 2º H, 29601 Marbella, Málaga, España
Email: info@butterflyresidential.com Web: http://butterflyresidential.com
Tel: (+34) 662 258 896 Tel: (UK) 0208 1444 383 Skype: butterflyresidential