Glut of new-build properties leads to falling premiums in central London
Prices for luxury flats in some parts of London are likely to fall as an oversupply of properties erodes the premium being paid for new-builds, an investment firm said on Monday.The latest warning of a bubble at the top of the property market has been sounded by LCP, which advises investors on the residential market and runs property funds. It said new-build properties had been selling at a premium of as much as 25%, but oversupply in some parts of the market was likely to start eroding this.
Hyderabad likely to see hike in property tax non-residential buildings
Weeks after elections to the Greater Hyderabad Municipal Corporation, the civic body said it is now mulling plans to increase the property tax rates for commercial and non-residential buildings.
According to GHMC, it is empowered to revise the property tax rates for buildings once every five years.
Attorney wants residential property damage case sent to Montgomery County
Defense counsel in a residential property damage case is seeking to transfer the case to the Montgomery County Court of Common Pleas. Adam M. Smith filed a motion to transfer on Aug. 26, seeking to move Jason and Emily Konn’s lawsuit against Merle J. Foglia, Joe Burke, Berkshire Hathaway Home Services, Dan Keogh and Peach Inspections. Smith claimed the cause of action took place in Montgomery County and all parties involved reside there, and the only connection to Philadelphia is through business contacts on unrelated matters.
Landlords, licensing of your residential property? – It could happen
Whilst the tax changes, right to rent checks and the soon to be implemented approved form of long term AST may be thought to be the start of the Governments influence on the Private Rental Sector, this is certainly not the case. The government has always influenced and regulated, in one way or another, the private rental sector. However, under the radar there was a change in legislation in 2006, and I believe that this change is likely to come more to the fore over the next few years. So what is this change? Well it is the Private Landlord Licensing Scheme. This was originally introduced under Section 79, 80 & 81 of the 2004 Housing Act, and the Act itself came into force in April 2006.
Octopus Ventures leads $22.4 mln Series B for Property Partner
London-based Property Partner, a property crowdfunding platform, raised 15.9 million pounds ($22.4 million) in Series B funding, bringing the total amount invested in the company to 22.5 million pounds ($31.7 million). Octopus Ventures led the round with participation from Index Ventures and Dawn Capital.London, 7 March 2016 — Property Partner – the property crowdfunding platform that allows anyone to invest in residential property at the click of a button – today announces the successful completion of a £15.9m ($22.4m) funding round, taking the total amount invested in the company to £22.5m ($31.7m).