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Strategic alliance between Knight Frank and Douglas Elliman

Strategic alliance between Knight Frank Residential and Douglas Elliman, the leading residential agencies in London and New York

Two of the biggest names in residential property, Douglas Elliman Real Estate and Knight Frank Residential, have today announced the launch of a new residential real estate alliance.

The firm’s combined network will now include 400 offices across 52 countries, and nearly 20,000 agents. Douglas Elliman and Knight Frank Residential will jointly market more than $38 billion of prime and super-prime properties priced at $1.5 million or more.

Douglas Elliman and Knight Frank Residential are the fourth largest residential brokerage in the United States and the largest independent residential brokerage in the United Kingdom, respectively.

The alliance will include co-branded offices, select top tier agents, and shared marketing of fine luxury properties, resulting in the largest interactive and connected network for prime and super prime properties in the world.

It will share marketing resources for domestic and international properties of at least $1.5 million through co-branding seven offices across New York City, South Florida, and Los Angeles, which cover the key high net worth markets in the US.

Lord Andrew Hay, Global Head of Knight Frank Residential, said: “The property market has become increasingly global as the mobility of buyers increases; accordingly, there is now a wider selection of both investor origins and investment destinations. For agents, this trend dictates that it is essential to be best in class in both New York and London in order to provide high net worth clients with the most comprehensive service and access to the best properties globally.

“The strategic alliance between Knight Frank Residential and Douglas Elliman brings together the two leading agencies in the world’s two most important markets. The aim of the alliance is to provide a single market view, consistent expert advice and exceptional service – whether it be in Park Lane or Park Avenue”

Hay goes on to say: ” What makes the alliance so powerful for both our clients and our brokers, are the deeply etched hallmarks that can only be found in independent property agencies: a ‘client first’ focus, professionalism, a brand that adds value, market leading websites and a shared ethos of building long term relationships. Douglas Elliman stands out a mile in this respect. We only engage with best in class, Douglas Elliman are unquestionably just that.”

With the number of Ultra High Net Worth Individuals* (UHNWIs) set to expand to 215,000 over the next 10 years from the current number of 168,000, according to Knight Frank’s Wealth Report, the alliance will capitalise on this expansion and the prevailing trend for those individuals to own property in London and New York.

“This new global alliance formed by Douglas Elliman and Knight Frank Residential is a testament to our shared history, vision, and commitment to our clientele. With our group of top dedicated agents, the finest international properties, and in-depth global market analysis, we are offering our customers a truly seamless experience whether they’re in Malibu, Manhattan, or Moscow,” said Howard M. Lorber, Chairman, Douglas Elliman.

Douglas Elliman and Knight Frank Residential first began their strategic relationship in the 1970’s through international referrals.

“The strengthening of our relationship with Knight Frank Residential further solidifies Douglas Elliman’s position at the top of the real estate industry through our unique marketing platform, shared market insights, and unmatched ability to connect buyers and sellers on a global scale,” said Dottie Herman, President & CEO, Douglas Elliman.

From: Knightfrank.co.uk

Great time to buy Liguria property, as pound hits 1.2258 versus euro

Planning to buy a property in Liguria?

Then 2014 could be the year to do so, because the pound recently hit 1.2258 against the euro, its strongest in 14 months or since January 10th last year, considerably cutting the cost of Liguria property.

To put this into context, sterling was as low as 1.1403 in March last year, meaning the pound has since climbed +7.5%, or 8 cents versus the euro. Were you to transfer £125,000 to buy a Liguria property, you’d therefore now receive +€10,688 more now than 12 months ago!

Sterling has risen, because the UK economy is firing on all cylinders. For instance, confidence among UK businesses recently hit its highest since September 2009. Moreover, the UK economy is forecast to expand +3.4% this year, more than any other major country.

At the same time, the euro has declined, because the Eurozone outlook remains cloudy. For instance, the currency bloc faces a serious threat of deflation, whereby prices continually fall. Moreover, the Eurozone will grow just +1.2% in 2014, according to official forecasts.

Looking forward, the pound could climb further against the euro, as the UK and Eurozone economies continue to diverge. For instance, while the Bank of England is primed to raise interest rates in Spring 2015, the European Central Bank will hold rates close to 0.0% for at least another 2 years.

In short then, Liguria property looks set to stay more affordable in 2014, as the pound leads against the euro!

 

By Peter Lavelle at currency broker Pure FX. To get free expert foreign exchange advice about the best time to transfer money to Italy for a Liguria property, call us on +44 (0) 1494 671800 or email enquiries@purefx.co.uk.

International Schools in Liguria: Sanremo

English language classes arrive in Sanremo!

Sanremo’s Mater Misericordiae Institute has opened up beginner level English language classes to children aged 30 months to 6 years old. Second level Italian and English language classes are also offered to children aged 6 to 11 years old.

For more information: www.matersanremo.it/web/magic.html

There are also many education facilities based nearby in Monaco – from nursery to University level!

For more information:

www.ismonaco.org

www.monaco.edu

2013 Blue Flag beaches: Liguria is the most pristine

In 2013 Italy Boasts 248 Blue Flags Beaches and region Liguria has again the highest number of Blue Flag beaches

Italy has 248 top beaches, two more than last year, in 135 municipalities. The figures emerge from the 2013 Blue Flag table, which certifies the services and environmental friendliness of coastal and lakeside resorts, as well as the cleanliness of the water.

Blue Flags are international distinctions, created in 1987, with patronage and support from UNEP, the United Nations Environment Programme, and the World Tourism Organisation, which aims to promote a sustainable development at beaches and marinas through strict criteria such as water quality, environmental management, safety and services provided close to or within the beach area. To the Blue Flag Programme participate beaches and marinas in 41 countries of all the world.

LIGURIA’S TOP SLOT – Liguria again tops the regional table with 20 flags, increasing by two this year.

It is followed by the central Marche region with 18 (+2), Tuscany with 17 ( + 1 than last year), Abruzzo 14, Campania remains stable with 13, Puglia with 10, Emilia Romagna with 8 and Lazio with 5 like 2012. The two Italian islands, Sardinia, famous for its crystalline waters and luxury Emerald Coast resorts, has one more flag this time with nine but Sicily lost one flag land is now on eight.

In the West Liguria there is the new entry of San Lorenzo al Mare , but also the confim of Sanremo, Camporosso e Bordighera. These are the other 2013 Blue Flags in our region: Spotorno, Bergeggi, Finale Ligure, Noli, Savona Fornaci, Albissola Marina, Albisola Superiore, Celle Ligure, Varazze, Loano, Chiavari, Lavagna, Moneglia, Lerici, Framura e Ameglia.

Blue Flags for Marinas & Small Boat Harbours

The Blue Flag fro Marinas is an annual environment award to Small Boat Harbours or Marinas that have focused on good management of facilities and services regarding the environment and nature, as well as provide information to their users about the environment. To be eligible for this award, the Small Boat Harbour or Marina has to fulfil a number of criteria related to education, information and environmental management, safety, services and water quality.

This year, also for Marinas, Liguria wins again with 15, incresing by one this year.

In West Liguria these are the 3 blue flag Marinas:  Portosole in Sanremo, Marina degli Aregai (Santo Stefano al Mare) and Marina di San Lorenzo.
In the rest of the region: Marina di Andora, Porto Luca Ferrari in Alassio, Marina di Loano, Vecchia Darsena di Savona, Cala Cravieu in Celle Ligure, Marina di Varazze, Porto Internazionale Carlo Riva in Rapallo, Marina di Chiavari, Marina di Porto Venere, Porto Bocca di Magra (Ameglia) , il Porto Lotti e il Porto Mirabello in La Spezia, a new entry of 2013.

Well, another good reason to buy a property in Liguria…..

Knight Frank: latest report on Italy’s second-home market

Knight Frank analizes the Italy’s second-home market

Knight Frank’s new Italy Insight report assesses what impact the country’s recent economic challenges have had on its prime property market.

Traditional sources of demand (US, UK buyers) while still evident are now joined by other HNWIs looking to make a lifestyle purchase, these include Scandinavian buyers (particularly Danes), Russian and Benelux nationals who are all increasing their market share.

As well as providing an economic update and analysis of Italy’s mainstream and prime markets, the insight report assesses what impact Prime Minister Monti’s IMU property tax will have on prime sales and ncludes a snapshot of current market conditions across Italy’s second-home hotspots: Rome, Venice, Tuscany and Umbria, Liguria, Sardinia and the Italian Lakes.

Unlike the UK, US, Ireland or Spain, Italy did not experience a housing market bubble prior to the financial crisis. Although official data reports that mainstream prices are only 10.5% lower than their peak in Q2 2008, most analysts acknowledge that mainstream prices have dropped by around 30% over this period.

For many international buyers, Italy’s established prime locations offer a more secure second home option without the risk that many emerging European markets present.

A weaker euro in the first half of 2012 made very little difference to the volumes of sales but interest from non-Eurozone buyers improved once the euro reached 1.20 against the pound.
Buyers from the UK, US, Belgium, Denmark, the Netherlands and Russia are the most active. The one issue that connects these buyers is their level
of wealth, many are increasingly internationally-mobile with multiple residences globally.

In late 2011 Mario Monti’s new government of technocrats embarked on a strict austerity programme. For the first time Italians now have to pay tax on all their properties, including their primary residence. The IMU tax, which also applies to non-resident second-home owners, is expected
to raise €10bn in 2012 but many Italians consider it to be unfair given it is based on a public register which relies on an outdated ‘cadastral’ rental value for each home.
We do not expect the IMU tax to have a significant impact on Italy’s luxury housing market for two reasons. Firstly, because the sums remain
relatively small. Homeowners are due to pay 0.4% of the cadastral value on a primary residence and up to 1.06% on a second home. Secondly, despite the IMU tax changes Italy’s purchase costs and annual property charges continue to compare favourably with some of Europe’s other prime second-home destinations.

Key findings

  • Enquiries for homes above €3m are strong, along with demand for properties in new developments priced below €1m
  • Italian prime property has performed better than its mainstream counterpart. Although prices have fallen by c.20% since their peak in 2008 the market is now gaining traction
  • A weaker euro in the first half of 2012 had little impact on sales volumes but has provoked interest from non-Eurozone buyers
  • The introduction of the IMU tax by Mario Monti, although a complex tax, is likely to have little impact on the luxury homes market

Focus on Liguria

The prime market in Liguria has seen a higher level of activity in 2012. New stock being brought to the market is not only of good quality but is
being realistically priced. In contrast to some of Italy’s other prime markets Liguria has seen prices hold firm with small price rises observed in the best locations such as Portofino, Bordighera and Alassio.
British, Danish, Swiss, French and Russian buyers are the most prevalent with many seeking homes within the €500,000 to €1.5m price bracket. Above this threshold the region finds itself competing with the neighbouring Côte d’Azur.

Click here to read the full version of the Italy Insight by Knight Frank

Fonte: Kate Everett-Allen, International Residential Research, Knight Frank – Oct 2012

To know more about Knight Frank please visit www.knightfrank.com or call Mr. Matteo Scandolera on +39 334 9323000 or come to our head office in Liguria: LiguriaHomes, Via Matteotti n. 24, San Remo – Western Liguria

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