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

Berlin starts the New Year with one of the most successful fashion events not only of Germany – the Mercedes Benz Fashion Week. Fashion victims, designer, models, starlets, actors and all people with a passion for fine clothing will hit the city and spread across shows, stores, galleries, restaurants and clubs. Main events taking place from January 19th till January 22nd at Bebelplatz, right in the historic centre of Berlin. The fashion epic centre is located near the pulsing hip district Mitte whit all its fancy shops and galleries. The historic part of Berlin along the street “Unter den Linden” stretches from the well known “Brandenburger Tor” all the way to the Alexanderplatz. The main tent of Fashion Week stands right in front of Rocco Forte’s glitzy 5* Hotel de Rome. The “Gendarmenmarkt” and Berlins shopping street “Friedrichstrasse”, Berlins world famous Museum Island are also right around the corner. Fashion and design are inevitable interconnected and so is architecture and design. When strolling through the streets of Berlin there are great examples of good architecture around. My favourites around these neighbourhoods are the “Neue Nationalgalerie” built by architecture icon Mies van der Rohe, the “Deutsches Historisches Museum” by I.M. Pei and Frank O Gehry’s designed headquarter of DZ Bank with its awesome interior space.

Only a stone’s throw away is Berlin’s newest and most sophisticated luxury residential development Yoo Berlin. At Yoo Berlin, fashion meets design and architecture in a very sexy way. Interiors are designed by noted designer Philippe Starck who set footprints all over the world already. I am pretty sure there will be some fantastic events held in Berlin, and clubs will be filled up by all the fashion victims from around the globe.  So get your dancing shoes ready to celebrate Germanys hottest fashion nights.

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

Sitting here on beautiful Lago Maggiore (Ticino, Switzerland) and thinking about my next travel plans. Right now, I would like to opt in for some lazy and relaxing beach vacation where I can relax in the sun, enjoy crystal blue waters and get my batteries recharged before ski season kicks in all over the Swiss Alps which starts right in my front yard.

It’s been far too long since I have been on my best beach vacation ever – Soneva Gili Maldives. Sweet memories are attached to that trip and I always wanted to go back there again. Maybe it’s just going to be the right time for doing so since I heard that the 1st ever residences to foreigners in the Maldives are becoming available and this would be a perfect time to check them out. Located within one of the largest lagoons and smallest islands in the Maldives, set in the Indian Ocean, Soneva Gili by Six Senses is the first in the country to offer foreign ownership. There are 14 luxury over-water villas planed to be sold as “Leasehold.”  Each of them offers 4 bedrooms, spacious entertainment areas, private sun decks, an over-water pool and many more distinctive highlights. Leasehold, by definition of Wikipedia basically means: “A leasehold estate is an ownership of a temporary right to land or property in which a lessee or a tenant holds rights of real property by some form of title from a lessor or landlord. Leasehold is a form of property tenure where one party buys the right to occupy land or a building for a given length of time. As lease is a legal estate, leasehold estate can be bought and sold on the open market. A leasehold thus differs from a freehold where the ownership of a property is purchased outright and thereafter held for an indeterminate length of time, and also differs from a tenancy where a property is let (rented) on a periodic basis such as weekly or monthly.”
 

In this particular case of the Soneva Gili resort, the owner is entitled to sign on a 50 year leasehold with an option to extend to 90 years. This form of ownership is very common in Asia and with the extension to 90 years it’s an even more comfortable situation for the owner. Ok, so Maldives might be a option for my next holiday vacation and if you would like to know more about the Maldives real estate ownership opportunities, please feel free to contact me at .
 

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