What has happened within one year in the very charming Swiss village of Andermatt is quite unbelievable. Recently on a sunny day in October, I went up to Andermatt with clients to show them the development Andermatt Swiss Alps as well as for an update on the construction progress. Already when entering the Ursern Valley, after a 1 hour drive from Lake Maggiore only, the changes and progress in construction where just obvious and not to be overlooked. Multiple cranes on the construction site of the future apartment buildings, an area called “Podium,” prove intensive and numerous building activities. The first parts of the Podium on which the apartment buildings will be constructed on are clearly visible. The Podium will house the complete infrastructure of the future and newly built village including building maintenance facilities, resident parking and all access and exit routes. Residents will enjoy a hassle free arrival despite any weather conditions as well as parking with direct access by elevator to their apartment. Another advantage by that “underground” solution is that the village on top is going to be a car free zone where one can freely stroll around.

Passing the construction site of the Podium and moving towards the village centre of Andermatt, the cranes of the future 5* Chedi Luxury Hotel attract attention. The scenery of the upcoming Chedi Hotel becomes more and more impressive as one gets closer. The main hotel complex is up and construction workers are finishing the massive roof in order to get the buildings ready for the winter season. Windows are being installed so work can proceed during winter. Right next to the hotel, the Chedi residences are under construction where apartments and lofts are being sold. The residences will offer its residents the same service and comfort such as wellness/spa, ski butler, valet parking, cigar lounge and much more, just as the hotel offers its guests and residents. Embedded in harmony with the surrounding architecture, these residences offer the future owner a charming lifestyle within the comfy living environment of an alpine village, but without missing out on the luxurious amenities of the luxury 5* Chedi hotel.

With all the unparalleled luxury the Chedi offers - summer and winter alike - it doesn’t come by surprise that most of the very attractive units have already sold. In the main hotel building, there are only a few units left, but where you still can choose between an apartment with a nice view onto the slopes of Nätsch/Gütsch, the Gemsstock or onto the valley. Units facing the beautiful valley also enjoy a view onto the hotels backyard with its large scaled pond where one can ice-skate in winter while others relax on sunken and comfy seating areas alongside the pond which invites to relax. Rear units also enjoy a glimpse onto the extensive glazed wellness and spa center with its gigantic pool.

The hotels inside however still require some imagination, but the generosity of the premises can be foreseen due to the spacious interiors and the open floor plan. Warm colours, noble wooden built-in’s and furniture in an luxurious alpine chic style will dominate the interior design and boast an absolutely cosy atmosphere as one can imagine by looking at the glossy brochures.

Altogether, the recent visit of the construction site of Andermatt Swiss Alps has been extremely worthwhile and it’s a great feeling to see something extraordinary and one of a kind within the Swiss alpine region growing. The visionary plan of the Egyptian investor Samih Sawiris has been getting proven right by a steady client request as well as by the sales of many units either within the luxury 5* Chedi hotel or one of the first 6 apartment buildings available. This also underlines the significance as well as interest on a year-round holiday destination in close proximity to metropolitan cities such as Zurich and Milan. With the completion and opening of the Chedi hotel in 2013/14 and by that time also of the new to be opened Gotthard-Oberalp- Ski Arena, interest will surely surge. More and more prospects express serious interest in a vacation home in Andermatt Swiss Alps so why not you too? Please contact Wetag Consulting for more detailed information or to schedule a visit. For impressions of the construction please click here.

Posted by:  Peter Rabitz

Germany and Austria as another German speaking real estate market are considered to be good places to invest in residential real estate these days. Germany in general is a rental market with an average home ownership quote of 43%, which is quite low compared to other European counties or the United States. Germany has a higher proportion of renters compared to other countries in Europe - the average home ownership quote in Europe is about 60%. In Germany, home ownership is more common in rural areas and larger cities (more than 500,000 inhabitants) show the lowest rates. With Vienna being very popular by property investors in Austria, German cities like Munich, Hamburg, Frankfurt and Berlin lead the list of interesting residential investment markets in Germany. News agency Reuters reports: “German residential real estate prices increased in the forth quarter 2010, driven by the country’s economic recovery and improving labour market.” Munich and Hamburg are the undisputed places of interest for a safe property investment, but also showing the highest prices. Berlin however, is one of Germany’s investment hotspots in terms of investing in apartment buildings. Berlin has always been dominated by rentals and is not going to change dramatically. Lately, Berlin also sees an increasing interest in the upper end property market, be it rentals or sales. Wetag Consulting, as the exclusive affiliate for Christies International Real Estate, is involved in the sale of Berlin’s most prestigious residential development – Yoo Berlin by Philippe Starck. Developed by a Zurich based international real estate developer, Yoo Berlin is one of the most talked about developments in the current market. Without a doubt, residences within Yoo Berlin belong to the very finest and with an increasing interest in Berlin due to events like the currently happening Berlin Film Festival, interest in high-end rental and freehold properties will increase as well. I wouldn’t call it a ordinary investment property, but if you are looking for an upscale, arty city pied-à-terre it is definitely worth it to consider.

Posted by:  Peter Rabitz

Daniel Libeskind, known for his deconstructive architecture, as seen in examples such as the Jewish Museum in Berlin, the Royal Ontario Museum in Toronto and on the expansion of the Denver Art Museum, to name just a few examples of his work, has finally completed  his first  private home. The German edition of Architectural Digest published the building in its recent January issue and offered interesting insights on it. Daniel Libeskind designed for some of his art scene friends, a very spectacular weekend house in Connecticut, United States - which is called 18.36.54.This eccentric name comes from a spiraling ribbon of 18 planes, defined by 36 points connected by 54 lines. The shape of the Libeskind building is typical, with tips, edges, dislocations, fractures and folds and interesting insights. Similarly is the Libeskind’s metal cladding that was used on of the facade which gives the 190sq.m large house a special, reflective note. An architectural critic describes Libeskind’s newest building as „a sea snail, standing under high voltage ….” However, the comparison with a distorted crystal or a “hyperactive Origami in polished brass” is rather close. The draft for this home is based on the design of a Libeskind designed garden pavilion for London’s Serpentine Gallery. The interior reminds me in a way of some of the interiors of the Goldstein Residence designed by John Lautner in Hollywood Hills. 

Equally interesting is that the architectural features shown in this structure are an essential part of the “The Villa - Libeskind Signature Series” design.  The Villa - Libeskind Signature Series is a residential project in which only 30 copies are planned to be built exclusively by him worldwide in a “prefab“ designed house. A prototype of this villa was already installed in Germany and is used as a reception and representation building for one of its partners for many large projects he is working with. The Villa - Libeskind Signature Series is far less spectacular than the building that was built in Connecticut, but this is due also to the idea of the relative economic production in the planned quantities. Compared to “normal” single-family homes and villas this structure simply stands out and delights with the typical Libeskind design. The fans of Libeskind’s architecture that would like to buy the world’s first example, have the opportunity to fulfill their dream with a beautifully situated property in Locarno, overlooking Lake Maggiore. Here, the architecture interconnects with the typical Ticino landscape, flora and fauna. Looking at the exterior of the villa 18:36:54 one can only guess how the interior design of The Villa - Libeskind Signature Series looks like, as Daniel Libeskind will show us how he designed the distinctive central kitchen area. All we can say to the ones who are passionately interested in the house built in Connecticut, is that they should take into account the possibility of The Villa - Libeskind Signature Series. The project in Ticino, which is the world’s first complete offer of this kind, inclusive beautiful located plot, is probably the best option. If interested, I will gladly provide more information about this unique residential project.

Posted by:  Peter Rabitz

Seems that Berlins tough times are going to be history in near future, at least signs of recovery are obvious everywhere. Outlook for the once divided city is bright and the German capital gains more and more attention and recognition world wide. Celebrating 20 years of reunification, Berlin uses its not so glamorous past to show off its free and affluent future.

For me, Berlin has been and still is Germany’s SOHO, Greenwich, Wapping, Notting Hill or what ever other trendy city quarter you like to name. Soon after the wall came down, creative’s, artists and musicians moved to Berlin and enjoyed the open minded and free spirit you could and still can experience everywhere. The city is undergoing a transformation into a very much hot spot in Germany. Berlin’s trendsetter potential is well known and a recently published article in the Telegraph headlines their story the following “Berlin joins the cool crowd” what perfectly describes the city’s current status.
 

Sometimes, I believe all these positive news about Berlin’s growth and bright future outlook is so new to the city that it’s hard for Berliners to handle them and so it’s still very common to question everything rather than believe in the good. Of course, there is still a long way to go considering where the city is coming from and what difficulties it had to deal with – financial, economical and social wise. Therefore, it’s even more welcome when positive news makes a circuit.

Just today, Financial Times Germany published an article called “The capital on a roll” where they look at Berlin under the attention of the new international airport BBI who is scheduled to open for business in June 2012. The newly constructed Willy-Brandt-Airport, named after the former politician, is located in the very south of Berlin and will replace all three existing airports (airport Tempelhof already closed for business). The new and approx 2 Billion Euro expensive airport is planed to handle up to 27 million travellers with an additional extension planed to handle up to 45 million passengers in the end. Right now, the airport will rank Germanys 3rd largest after Frankfurt and Munich. Politics and economy link great hope with the airport. The region Berlin-Brandenburg is booming for quite some time, but which is barely perceived. A recent city ranking by the “Hamburgerisches Weltwirtschaftsinstitute” (HWWI) did take a look at 30 German cities where Berlin made a jump from the 24th to the 8th rank. HWWI boss Thomas Straubhaar states: “The growth engine started and locational advantages such as education, accessibility improved by far and continue to have an effect.
 

Berlin’s senator for economics states: “Already this year, the real national output will be higher than before the crises.” The long time not recognized industry is going to become more important again and the new BBI airport is a very important prerequisite for even more growth.

We experience Berlins increasing appeal by a broad range of interested parties from all over the globe looking for real estate opportunities in Berlin. We are proud to be able to offer them one of the most sparkling luxury residential developments currently available – Yoo Berlin. With celebrating the ground breaking ceremony few weeks ago and construction on its way, the development will be scheduled to open in 2013. Just last week, I was happy to attend the official launch party of the Yoo Berlin by Philippe Starck development which took place at the projects beautiful showroom, located on site. Philippe Starck - the iconic star designer, Eike Becker – the architect of the buildings exterior, Dr. Thomas Wolfelsberger – CEO of Peach Property Group (the developer), Jon Hitchcox – co-founder of Yoo and many other guests form showbiz, culture and economic gathered at the successful launch party. Yoo Berlin is going to be Berlin’s most successful luxury residential development with already 30% of all planed 87 apartments sold off plan. Yoo Berlin, the city’s most luxurious new scheme will be home to apartments, townhouses and penthouses as well as a boutique hotel and some small commercial units. The glamorous 10-storey block is located right on the river Spree and in close proximity to the governmental district, the famous shopping street Friedrichstrasse and all the fancy restaurants, bars and galleries of Berlin Mitte.

I am looking forward to go back to Berlin for another trip and would be happy to provide all interested people with more detailed information on Yoo Berlin or any other possible real estate opportunities. Please contact me me for more information.

Posted by:  Peter Rabitz

Things are in progress with the construction of the prestigious holiday resort by Samih Sawiris up in Andermatt. Only recently, the laying of the foundation stone of the Chedi 5 star luxury hotel has been celebrated and the development of the new part of Andermatt is also in full progress. In addition, some weeks ago it was announced that the Rezidor Hotel Group will be part of Andermatt Swiss Alps and is going to open their 8th hotel in Switzerland up in Andermatt. The Radisson Blu Resort Andermatt with its planed 240 rooms is supposed to open by 2013 as well. Another powerful partner could be added which will help make Andermatt one of the most exclusive destinations in Switzerland.

With the development of Andermatt Swiss Alps, the villages Andermatt and Sedrun inevitably close, they plan the expansion of the touristic infrastructure together. Gérard Jenni, CEO of ASA states that a PGA standard golf course in Andermatt can’t be enough and there must be investments in the mountain infrastructure to offer his guests attractive leisure facilities in summer and winter alike. To achieve that, a master plan for the entire infrastructure in the Urserntal and Oberalp-Sedrun region has been presented which focuses on the construction of 8 new gondola cableways and chairlifts, as well as the replacement of 6 already existing facilities.

After the planed overall construction, winter sports enthusiasts will enjoy more than 130km (80 miles) of groomed ski runs (without free ride runs) at the Andermatt-Sedrun ski resort. The amount of investment is estimated by 160 million Swiss Francs in total. The highest priority will be the construction of an 8 seat gondola cableway from Nätschen to the region Gütsch, as well as a quadripartite-chairlift Oberalp-Calmut. A permanent connection between Urserntal and Sedrun via mountain infrastructures with additional four lift facilities is planed by 2015.

With the expansion of the ski area, not only the attractiveness of the region is increasing, but also its commercial relevance of Andermatt Swiss Alps. In Andermatt, a region known for guaranteed snow and best snow conditions (with great powder snow), a very attractive winter sports resort is being developed which is of great interest to foreign real estate buyers since the purchase of property is exempt from the Swiss typical “Lex Koller” law. That means that foreign buyers will be free in buying any real estate they want. Please don’t hesitate to contact us at  should you wish to receive further information on Andermatt Swiss Alps or any real estate options available.

Posted by:  Peter Rabitz

What we all hoped and discussed many times seems official by now: At the conference “Idrovia dal Lago Maggiore a Milano” held in Arona, Italy, last Monday, the 13th of September, Italy confirmed that the waterway from Lago Maggiore to Milano (using the Ticino river and the historical canal “Naviglio Grande”) will be navigable again by 2015 before the Milan Expo 2015 at the latest. Italian Vice minister for Transports Roberto Castelli further said at the conference that he hopes not only this part, but the entire connection from Lago Maggiore to Venice, should be open for ships by then. He named a total cost of approximately 100 million Euros, of which a part, but not all, is already spoken for.

I am truly looking forward to do my Saturday shopping in Milano by boat, to board my Venetian Gondola  in Ascona to the Carnival, or simply to enjoy a canal-and-river cruise through one of Europe’s most remarkable historical regions. Ship ahoy!

Posted by: Ueli Schnorf

There are dozens of great architects these days, but only a handful can be considered iconic, given by their controversial design or ingenuity of their works. Most of them such as luminaries like Frank Gehry, Shigaru Ban, Richard Meier, Tadao Ando, Santiago Calatrava and Rem Koolhaas just to name a few, are also ever-present in medias across the globe. Definitely not to be missed in that list is Daniel Libeskind. Not many architects split their audience that drastic into two opposite camps just by the look of their architecture and Mr. Libeskind is definitely one of them. People either hate or love what he is doing, but it doesn’t go without notice that he is quite successful. Maybe one of his biggest successes has been winning of the Ground Zero design competition where he was chosen to become the lead architect. Unfortunately, his involvement soon was disregarded and narrowed when he got some colleagues on his site who soon took over the overall design process creating a less spectacular architecture for Ground Zero.

Some of Daniel Libeskinds current most recognized works include the Las Vegas MGM Mirage City Center, the Extension to the Denver Art Museum, the Jewish Museum in Berlin, the Military History Museum in Dresden and the Fiera Milano project only to name a few. All its past, current and future works make him one of the big players in commercial architecture leaving some people dreaming of a Daniel Libeskind designed single-family-residence to call it their own Libeskind. Up to that point a few months ago where he announced his latest coup – the design of “The Villa-Libeskind Signature Series.”

The New York-based architect has teamed up with the German builder Proportion to produce a limited-edition series of 5,500-square-foot dwellings dubbed “Villa Libeskind.”

“This is the first small intimate house that I have designed for an individual or a family, which really reaches into the depths of a new experience of living and architecture,” says Libeskind, who calls the residence a “walk-in sculpture.” A prototype was unveiled in October 2009 in Datteln, Germany, on the campus of Rheinzink, the zinc panel manufacturer, where the villa serves as their welcome center what led into a slightly different use than the villa was originally planned.

This first week in September, I was able to finally make a trip to visit the prototype. We at Wetag Consulting market the projects first to be built villa on a beautiful lot in a sloping hillside position in Locarno/Orselina, Switzerland, overlooking gorgeous Lake Maggiore. It is a very prominent but still hidden location what totally reflects the building’s story. Daniel Libeskind designed the building like a crystal growing from rock, where a dramatic structure emerges from the ground.

Turning into the parking lot of Rheinzink, your eyes will immediately focus on the villas imposing appearance. Without a doubt, the building is right away recognized as a work of Daniel Libeskind. A trio of interlocking architectural bands envelops the Villa in striking angles, creating a dramatic, asymmetrical interior of spiraling, two-story peaks and smooth transitions to secluded terraces. Mimicking the Jewish Museum in Berlin and other architectural masterpieces by Daniel Libeskind, the Villa’s exterior is enveloped by an elegant standing-seam zinc façade, which enables the use of 21st Century technologies such as a solar thermal system and a rain water harvesting system.

Entering the entrance area, the dramatic lines and the allegedly wild use of angles continues in the interior as well, shaping a dramatic and eye catching living space. The ground floor consists of 2 rooms which could work as bedroom, library, home office, guest quarters or whatever else you would like them to be. The entrance area with the staircase, leading to the upper floor with all the private areas, is divided by a wall from the loft like open living room, featuring an open kitchen (optionally also designed by Libeskind) as well. Floor-to-ceiling windows on two sides flood the living area with natural light. Incline planes, Libeskind like ribbon windows, light wells and strange angles in the villas overall construction proof the building to be an original Libeskind throughout and give it an even surreal guise. It’s not a secret, but “The Villa-Libeskind Signature Series” is not for everyone. The future owner should be an architectural enthusiast, should love design and most of all should appreciate and understand Daniel Libeskind’s design language. In my opinion, gallery owners, artists, creative’s or similar will have their joy on this villa and will most likely impress not only their friends and acquaintances, but also their neighbors.

Posted By: Peter Rabitz

On Tuesday August 31st 2010, developers behind the holiday resort under construction in Andermatt reached an important milestone when they began laying the foundation of the Andermatt Swiss Alps project and celebrating the much sought-after ground breaking ceremony.

The Chedi 5* luxury hotel will be the crown jewel of the future holiday destination, Andermatt Swiss Alps, and will link the historical old part of Andermatt with the new village that is going to be built. Switzerland’s new Alpine it-destination will not only offer four and five star hotels, like the 5* Chedi hotel and the just recently announced Radisson Blue, but also several real estate investments such as apartments, villas, penthouses and lofts. Furthermore, there is a PGA standard golf course planned, a wellness and spa center, and a new to be restructured ski resort that will offer great advanced skiing. 

The region of Andermatt is well known for its snow quality featuring long winter seasons with tons of powder like snow great for cross country skiing and snowboarding. The developer of Andermatt Swiss Alps will invest in Andermatt’s current ski infrastructure and, even more important, combine the Andermatt resort with the surrounding resorts like Sedrun to make it one of the largest ski destinations in the Swiss Alps.

Mr. Samih Sawiris and other attendees of the foundation stone ceremony affirmed the importance of the development. Click here to see more impressions of the ceremony. With the construction of the development on a former Swiss military training area and the approximately CHF1.5 billion investment, Andermatt will become one of Switzerland’s greatest touristic regions. 

The 5* Chedi Hotel, which will be built on the site of the former legendary luxury Bellevue hotel, is going to be the luxury spear head of Andermatt Swiss Alps. The hotel will feature 50 hotel rooms, 119 real estate opportunities such as apartments, lofts and penthouses, 2 restaurants, bars and lounges, wellness and spa facilities and many more luxury amenities. With construction on its way, the hotel is scheduled to open in winter season 2013/14 where it will welcome its guests and property owner to move in or to just start their vacation.

Please contact us should you wish to receive further information on all current real estate opportunities available and send an email to andermatt@wetag.ch or call +41 (0)91 751 3106.

 

Posted by:  Peter Rabitz

Berlin, Germany’s capital has always been a focus point by the worlds rich and famous as well as some of the most influential people world wide. BUT, the city’s face changed quite a bit and with today, Berlin is one of the most recognized metropolises for fashion, music and the creative scene. Long time, real estate investments in luxury properties weren’t first choice when purchasing in Germany, but with the city’s increasing importance in fashion and also due to the fact Germany being one of the leaders in European politics, Berlin real estate market started to show first signs for increasing demand for luxury properties. Traditional regions for high-end luxurious real estate used to be neighborhoods a bit outside of Berlin’s city centre where sumptuous villas and houses could and still can be found. Neighborhoods like Dahlem, Grunewald and Zehlendorf are amongst the most well-known for luxurious living. Not to forget Potsdam, a near by city in the south of Berlin which always has been a sought-after location for the upper class to own a mansion on one of the many lakes you can find in that region. For a long time, the most preferred neighborhoods for apartments and penthouses used to be Charlottenburg and Tiergarten, but with the fall of the Berlin wall in 1989, the focus on Berlin’s centre and the former east part increased with plenty of opportunities to invest. Now, neighborhood like Prenzlauer Berg and Mitte are the most sought-after locations for a trendy apartment or penthouse.

Berlin is one of the world’s most vibrant cities, and the heartbeat at its centre is Berlin-Mitte. Here, artists, entrepreneurs, politicians and celebrities alike all share centre stage. You’ll find streets lined with the most exclusive shops, as well as the hottest galleries, restaurants, cafés and bars. Mitte is also home to Museum Island, beautiful squares and the new government district. The city is also well-known for being Germany’s event epicenter with glamorous events like Berlin Fashion Week and the Berlinale Film Festival beside many others.

Furthermore, architecture always played a big part in the city’s history. In the past, luminaries such as Richard Neutra, Le Corbusier and Mies van der Rohe designed houses for clients in Berlin and Potsdam. With all the changes over the last 20 years, Berlin became a center of attraction for architecture enthusiasts. Some of the worlds most famous and leading architects came to Berlin to design many of the new embassies, commercial buildings and residential buildings. Names like Frank Gehry, David Chipperfield, I.M. Pai, Daniel Libeskind and Norman Forster just to name a few who pop up in my mind right now, read like the who’s’ who in architecture and who all designed some more or less iconic buildings.

These days, just another big caliber of the design and architecture scene made his appearance with Berlin’s newest and maybe most glamour’s project. Philippe Starck – the illustrious magician of design – comes to Berlin. Philippe Starck, the man who is not only the most renowned designer of our time, but also the most versatile. His creations are already considered classics. With Yoo Berlin by Philippe Starck, he now draws upon his wide-ranging talents to create something entirely new, designer luxury apartments. Having already garnered accolades in London, New York, Sydney and Miami, as well as in many other cities around the globe, this innovative property developer is now coming to Germany’s capital. Extravagantly luxurious living spaces that would reflect the esprit and individualism of the people who lived there. Today, yoo is a brand sought after like no other. Each apartment or penthouse is unique – as original as the people who live there.

Back in May, right after the ground breaking ceremony, I visited the construction site and the showroom. Without a doubt, Yoo Berlin is located in one of the most historic and sought-after neighborhoods Berlins - a place where the legendary Friedrichstadtpalast once stood and a place that in the 1920’s toasted stars like Marlene Dietrich. To your right, historical façade of the Berliner Ensemble and to your left, Friedrichstrasse with its boutiques and restaurants. With gorgeous view of the Spree River, further attractions like the government district, Museums Island, Gendarmenmarkt and the Hackesche Höfe are all just a stone’s throw away. The showroom already offers the feel of the upcoming lifestyle at Yoo Berlin. All rooms boast the design language of Philippe Starck as well as some of its iconic design features. The showroom is conceived like an apartment with all the bedrooms, baths and living areas. When walking around you will forget that you are in a temporary space and you feel already pretty much at home. Two bathrooms and two bedrooms feature just two of the four interior designs available from where the future owner can choose from. Each of the four styles – Classic, Minimal, Nature and Culture – will inspire you to add your own elegant and stylish details to your home. Of course, the Yoo design team is always happy to help you run with your imagination. The sky is the limit!

Posted By: Peter Rabitz

Palazzo Tornabuoni is one of the very few urban residence clubs in Europe, and the first in the world to occupy a site of such historic and artistic significance (this is still the only Medici home in private hands). This special status is reflected in its unique title of “Palace Residence Club,” and its unrivalled membership services and privileges.

The Palazzo is located on one of Florence most famous streets – Via Tornabuoni. This neighbourhood of Florence is today the vibrant Tuscan city’s ‘fashion central,’ lined with stylish boutiques of all major label brands. Only steps away from the famous Duomo and a five-minute walk from Ponte Vecchio, the Palazzo is perfectly located to enjoy the bustling and vibrating city life of Florence.

The Awards for Excellence competition by the Urban Land Institute is widely recognized as the land use industry’s most prestigious recognition program. ULI describes the program as follows: “The competition is part of the Institute’s Awards for Excellence program, established in 1979, which is based on ULI’s guiding principle that the achievement of excellence in land use practice should be recognized and rewarded. ULI’s Awards for Excellence recognize the full development process of a project, not just its architecture or design. The criteria for the awards include leadership, contribution to the community, innovations, public/private partnership, environmental protection and enhancement, response to societal needs, and financial viability.”

Quite a time ago, I was able to travel to Florence and was visiting Palazzo Tornabuoni. The city of Florence is fascinating for itself, but Palazzo Tornabuoni capped it all off. When I entered the door to Palazzo Tornabuoni, I could feel the historic significance and the history of the past. I was totally amazed by the high quality of the restoration. My experiences in Italy are not that great when it comes to quality of finishings, but the restoration of Palazzo Tornabuoni has been done with highest care into the last detail and the finishings are just perfect.

Dave Purpora, Director of Sales at Palazzo Tornabuoni, met with me at the library and invited me for delicious glass of vine at the palazzo’s courtyard. He told me all about the history of Palazzo Tornabuoni and provided a short background of the building’s restoration. It took the developer five years to restore the Palazzo into residences. All residences are designed by Michele Nonan, who is an award-winning interior designer. A blend of great care to historic details for example at the original 16th-century frescos or the exquisite fireplace adorned with beautiful micro-mosaics in a mixture with contemporary elements, the Palazzo features high-end living in an historic environment, but with all the modern comfort of these days.

Palazzo Tornabuoni is a perfect getaway for all Italian lovers, art enthusiasts and friends of fine living. There are several options to become an owner of one a few residences available at Palazzo Tornabuoni. Some residences are fractionalized into 1/8 shares, but there is also whole ownership offered. Whole ownership residences are part of the Palazzo Tornabuoni and each property is set among the various courtyards and terraced gardens. A few residences boast their own roof-top views of Florence and the Duomo. Whole ownership residences are between one and two bedrooms, with from one to three baths and range in price from 1.6M to 5.1M Euro. Various luxurious amenities and special offerings for its members are included and provide a perfect environment for a great stay in your own residence. Palazzo Tornabuoni will make you fall in love with Florence so you never want to leave again.

Posted By: Peter Rabitz

The Canary Islands are an archipelago of seven main islands and six smaller islands in the eastern central Atlantic approximate 100km to 500km western of Morocco. They form one of the 17 self-governing communities of Spain. All islands are of volcanic origin where approximately only 5% of the “Canary Mountains” tower out of the water. One of the main islands is Lanzarote, the most north-eastern of the main islands. The island became a biosphere reserve in 1993 by the UNESCO and measures 58 km from the north (Punta Fariones) to the south (Punta Pechiguera) and 34km in its biggest east-west dimension. Lanzarote’s biggest city is Arrecife with its international airport which connects to the European mainland and some big cities.

The island is dominated by two major mountain ranges. Southward of the Famarra-Massif extends the sand dessert El Jable which divide the Famara–Massif from the Timanfaya National Park. Just bordering with the reserve and in an absolute stunning and one-of-its-kind location you will find a rare Mediterranean/Moroccan influenced property in a commanding position with great views on its surroundings and the ocean. The approximately 450sq.m or 4’800sq.ft villa is located in a tranquil location with an unobstructed view and absolutely privacy. The owner, a Swiss, built the house with care to finishing’s and designed it in a Canary typically charm. He imported many of the features like windows from Switzerland to accomplish his own demand on quality and usability. The rural location and its complete privacy make this villa a great getaway to relax and to find oneself.

Posted By: Peter Rabitz

While in 2001 and 2003 government has seen 80 billions Euros repatriated to Italy, with over 20% of these funds flowing into real estate, there is a similar picture these days. So far, Italy’s third tax amnesty, so called Scudo Fiscale, has brought in an estimated 95 billion Euros already. Owner of the repatriating cash will have to pay a one-off 5 percent penalty, but than they can invest the rest or pay into an account. There is no doubt that the new money flowing back to Italy will be used in a variety of ways. It is expected that much of this will find its way into the property sector as analysts estimate as well. The effect might be positively driving the market from 2010.

Analysts are not sure yet how much will be invested in real estates and also when it will hit the market. People might park the money for a while, waiting for the market to become more interesting. Regions who will benefit the most from the repatriation cash flow might be Lombardy, Emilia Romagna, Veneto and Tuscany, whereby Tuscany is still pretty much dominated by foreigners as it proved quite stable during the recent economic turmoil’s. BUT, also in Tuscany, prices where put under pressure. Old Tuscan farmhouses in great locations are still on shopping lists of wealthy foreigners. 2010 will be the year of the breakthrough for fractional in Europe with several new fractional developments in place or to be launched. One of the great examples is Castello di Casole near Siena, a fractional ownership model for beautiful farmhouses offering the finest luxury amenities part with fine Tuscan living. As far for repatriating Italians, professionals and small businessmen are among those to take advantage of the tax amnesty and they are also expected to invest in real estate.

In general it can be said, that the overall impact on the market by Italy’s Scudo Fiscale will not be extraordinary and more likely niches such as high-end residential property will benefit more than others.

Posted By: Peter Rabitz

Bilanz Homes, Switzerland’s real estate magazine just published a very interesting article on some of the world’s most interesting tax havens worth to by a property. Switzerland itself is one of the investment friendliest countries in the world so Swiss citizens more likely looking for a place to escape the cold and wet winter weather, but where they still enjoy financial advantages.

Countries on that list who are offering a very mild and warm climate, white sandy beaches with palm trees and a relaxing lifestyle are St. Kitts, Bahamas , Croatia and Malta just to name a few. St. Kitts for example features a very tax friendly climate for foreigners. The 168 square miles big island, part of the British Commonwealth, is a independent country located in the northern group of the Antilles and only approx. 2000km south-east of Miami, Florida. Besides its stunning beaches and crystal blue water it also offers no income tax, no capital gain tax and no inheritance tax. When purchasing a property, there is a 6% stamp duty of the sales price and further 0.2% to be paid into a state insurance fond. The annual property tax is 0.2% of the market value. A nice side effect when buying in St. Kitts is that you will be able to become resident when buying real estate worth more than $400’000. So without a doubt, this is really of interest if you are living in a country where it’s of great advantage to be able to hold dual citizenship so traveling for example will become easier.

One of the rising stars in Europe as being a tax haven is Malta, a small island in the Mediterranean Sea south-west of Italy. The small country with a population of round about 400’000 and with one of the lowest GDP’s in Europe joint the EU in 2004 and the Euro zone in January 2008. Furthermore its part of the Schengen Country. Malta has a unique tax infrastructure featuring very interesting fiscal incentives not only for individuals but also for organizations. Malta has no value added tax and no sales tax. A 5% transfer duty has to be paid when purchasing real estate on the island. There are also no regularly recurring taxes or fees on properties. Officially, you don’t generate income with real estate so there is also no income tax to be paid. A foreign individual who takes tax residence in Malta, is taxed at 15% on the income brought into Malta, whilst organizations that set up a real office in Malta, although still attract a corporate tax of 35%, the foreign shareholders are refunded 30% of the tax within 20 days. Malta is also named “little Hollywood” because its ideal for filming and many box office movies have been shot on the island. The country offers a variety of incentives for aviation and vessel industry. Wetag is offering one of the most sought-after luxury properties on Malta. The townhouse like villa or palazzo is located in Rabat and features stunning interior design by Schembri Design Studio, boasting all luxurious amenities of these days. High end finishing’s and a great setting with the possibility to have also your own office in house make this property a rare find on the island. With all these above mentioned advantages combined with 300 days of sunshine all year round, Malta has seen a huge influx of high net worth individuals, organizations and foreign investment.

Posted By: Peter Rabitz