Did You Know?

DID YOU KNOW? Some of Singapore’s most desirable houses come with a catch: only locals can own them. The fact that Chinese (or any foreign) buyers who for years helped drive demand for luxury homes, can’t buy these dwellings, hasn’t dented their appeal.....or pricing, that has recently soared. Their scarcity and exclusivity they confer have pushed prices of the homes - known as Good Class Bungalows (they must be on a lot at least one-third of an acre, and the house can’t take up more than 35% of the land, or be more than two stories high, making them a status symbol in one of the world’s most densely-populated countries, where about 7,900 people are crammed into each square kilometer) - to record highs, even as the broader property market cools. Sound like a tough New York co-op perhaps? Sometimes government restrictions on buyers does not cool pricing. (Bloomberg)
DID YOU KNOW? The Athens, Greece property market, once completely dead, is on the rise - house prices in Athens rose 3.7% in 2018. Why? A controversial "golden visa" scheme, in which non-EU citizens receive residency and free movement in the EU's Schengen zone, in exchange for investing in property.

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