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April 30, 2013

The value of prime real estate in New York, London, Hong Kong and Singapore is set to rise by 27% in the next five years, due to the growing number of ultra-high net worth individuals globally, according to recent research.

The Global Prime Sector Report – published by property developers Candy & Candy, Deutsche Bank and estate agent Savills – found that by 2017 the UHNW population was expected to increased by 20%, with their collective wealth increasing by 30% as international markets recover.

Research: New wealth will head to western cities

March 6, 2013

The number of high net worth individuals worldwide is set to swell by 50% over the next 10 years, with Latin America and Asia seeing the fastest growth, according to the Wealth Report 2013.

The number of high net worth individuals worldwide is set to swell by 50% over the next 10 years, with Latin America and Asia seeing the fastest growth, according to the Wealth Report 2013. However, it is the cities of New York, London and Paris that will continue to remain most popular with the ultra-rich.

Super-rich to choose Beijing and Shanghai over Paris, research

March 28, 2012

London and New York attract the highest number of wealthy individuals investing in property, but this could change in the future, with fast-emerging cities such as Beijing and Shanghai gaining popularity.

Of oligarchs and ethics

January 22, 2012

In the American comedy series Curb Your Enthusiasm, Larry David greets pieces of obvious information that reflect badly on him by throwing up his arms and crying: “Who knew?” In truth Larry David always did know, of course. It’s funny because he’s a grown man who just can’t ever accept that he’s ever done anything wrong. He’s a big kid who wants to avoid responsibility. His need to remain a child is, a psychiatrist might say, a way of refusing to be a moral agent.

Eurozone crisis boosts London’s prime property prices, research

September 26, 2011

The ongoing eurozone crisis as well as turmoil in the global economy have contributed to price growth in London’s luxury property market, according to research by multinational real estate firm Knight Frank.

The research shows that the price of prime properties in central London rose by 0.6% in September 2011 compared to the previous month, hitting an average of £3.97 million per house.

In the last 12 months, prices have grown by 11.4%, representing a price hike of £1,117, per day the study also found.

What crisis? Nothing appears to affect the luxury property market

September 16, 2011

The euro crisis and fears of a double-dip recession in the US and much of Europe have done nothing to upset the sentiment at the top of the global residential property market.

The world’s super rich are still buying luxury properties, or those priced $5 million (€3.62 million) or over, and are mostly paying cash to do so, according to a report released by Christie’s International Real Estate.

Family-owned clothing retailer expands operations

July 28, 2011

Family-owned American clothing retailer Forever 21 has opened in London as part of its strategy to expand operations throughout Europe.

The clothing giant, 100% owned by the Korean-American Chang family, opened its third store in Europe on 27 July – it had already opened a store in Birmingham and Dublin last year.

The move comes as Forever 21, much known for its cheap but chic fashion in the US, looks to expand globally with plans to open 20 stores throughout Europe.

Second generation takes control at Westfield

May 26, 2011

Frank Lowy, founder of the world’s biggest shopping centre chain Westfield, has stepped down as chief executive of the company and will be succeeded by his two sons.

In a statement made during the group’s annual general meeting on 25 May, Lowy announced that he will become non-executive chairman, while his sons Peter Lowy and Steven Lowy will become joint chief executive officers.

London super-prime property forecast to reach incredible highs

April 6, 2011

Top properties in the best areas of London are likely to reach £10,000 a square foot within the next few years, according to Knight Frank, the high-end UK property agent.

Top properties in the best areas of London are likely to reach £10,000 a square foot within the next few years, according to Knight Frank, the high-end UK property agent.

Speaking at the release of Knight Frank’s The Wealth Report, Liam Bailey, head of research at the property group, said that top properties in London are approaching £10,000 a square foot.

Hong Kong family looks to invest in the UK

February 24, 2011

London-based property group Capital & Counties (CapCo) is in talks with one of Hong Kong’s wealthiest families, the Kwoks, to provide funding for the redevelopment of London’s Earls Court site, according to reports in the Financial Times.