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March 13th, 2007 by babygirl
RECENTLY, THREE stories about housing were in the news. Although they may seem unconnected, they are closely linked and we need to pay attention to the messages they convey.First, both the French prime minister and president announced support for a legal right to housing .
Following the lead set by Scotland, France would elevate housing as a social right, on a par with education. Despite calls for a right to housing in the United States, notably by Franklin Delano Roosevelt in 1944 as part of what he called a Second Bill of Rights, this country has only articulated a national housing goal: “a decent home and suitable living environment for every American family.”
But this rhetoric has not translated into a commitment to action.
In the absence of the political will to supply consistent and sufficient public resources, federal, state, and local governments have taken an indirect route by providing incentives to the private for-profit sector as an enticement for them to enter the realm of “affordable” housing. This brings us to the second story. Read more
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Posted in Housing, Real Estate in USA, International Real Estate | No Comments »
February 20th, 2007 by babygirl
January 24th, 2007 by babygirl
A prison cell-sized apartment without electricity is on sale for 170,000 pounds ($335,000) - another sign that London’s property market is booming despite rising costs and stagnant salaries.
Anywhere else this dilapidated studio might not have attracted such price. But this is London, where a 77 foot-square former storage room is being marketed as an investment property in the exclusive Knightsbridge neighborhood.
“It’s about the size of a ship’s galley,” said Andrew Scott, the director of Lane Fox, the agency handling the sale. “But it’s permanently anchored to one of the wealthiest neighborhoods in the world.”
At more than 2,200 pounds ($4,340) a square foot, the mortgage buys a spot within walking distance of tony stores like Harrods and London’s iconic Hyde Park. Originally conceived as a maid’s room, the apartment at 18 Cadogan Place hasn’t been used for years and is littered with trash bags and crumbling paint.
A coffin-sized shower is en suite, and storage is provided by a shallow closet and 10-inch deep shelves cut into the wall. Two hot plates and a small sink make up the kitchen. Two dirty windows allow the light to filter into the basement apartment, and the fire escape could conceivably double as a shared patio.
With no electricity or functional heating, Scott said it would cost as much as an additional 30,000 pounds ($59,000) to make the room habitable.
“It is an investment,” he said, as he stretched his arms the width of the room, laying his palms flat on opposite sides of the wall. Read more
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Posted in Housing, Apartments, International Real Estate, Real Estate in UK, Property prices | No Comments »
January 9th, 2007 by babygirl
Dubai Sports City in the United Arab Emirates is set to showcase the world’s first ever fully-integrated purpose built sports city at the Dubai Property Show at the Novotel London West, Hammersmith on the 20th and 21st January 2007.
The gigantic 50 million square foot City will be approximately twice the size of the City of London (Europe’s largest business district)! This mind-blowing concept will offer homebuyers an entirely new lifestyle model, specifically designed to support an outstanding quality of life.
The mouth-watering scheme will incorporate world class sports facilities, four magnificent stadiums, global brand sports academies, leisure facilities, hotels, cinemas, entertainment outlets, internationally renowned schools, healthcare and a sports themed shopping mall to name a few.
As part of this staggering project, Dubai Sports City will be showcasing one of many magnificent residential elements called Canal Residence West, an elegant collection of five buildings comprising studio, one, two and three bedroom penthouse apartments. Read More
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Posted in International Real Estate, Real Estate in United Arab Emirates | No Comments »
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