You write that when the Centre Point tower in central London was first completed in 1966 it could not attract high enough prices, as now (Centre Point joins list of luxury ‘ghost towers’, 31 October). In fact the then owner, Harry Hyams, intentionally left the commercial space empty on a rapidly rising property market, because he made more money waiting to lock tenants in to higher rents on five-year leases which returned more than enough to cover the rent initially forgone. Furthermore, Centre Point did not “lend” its name to the youth homelessness charity Centrepoint. As Ken Leech – the radical vicar of St Anne’s church in Soho at the time – once told me, he and other founders of the charity took the name in order to confuse the postman. He said the hope went unrealised for many years. More importantly, the hopes of a decent home for all that fuelled the founding of charities such as Centrepoint and Shelter are also unrealised still. Rising … [Read more...] about A decent home should be the right of every citizen
Rent vacation homes
Nancy Trejos USA TODAY Published 8:56 AM EDT Oct 24, 2018 Many travelers think of the Bahamas as a college Spring Break destination. But there’s a sophisticated side to this island chain. The opening of the $4.2 billion Baha Mar resort in Nassau last year has added more luxury to the Bahamas, with three upscale hotels, the largest casino in the Caribbean, dozens of restaurants, art exhibits, an 18-hole Jack Nicklaus Signature Golf Course, and high-end retailers such as Bulgari, Chopard, Cartier and Rolex. The Bahamas consists of 29 islands and more than 600 cays (sandy elevations atop coral reefs). Outside of the capital city of Nassau, the so-called out islands can be calmer and less trafficked. Many of the islands have pristine beaches and opportunities for diving, boating and exploring nature. The Abacos, for instance, form a 120-mile long chain of islands with golf courses and colonial towns. The Exumas have ultra-private resorts and less-visited beaches. That gives … [Read more...] about Dream homes for sale in the Bahamas
In countries like Greece and Italy, just 15pc of homes are under-occupied, with inter-generational living commonplace. But returning larger family homes to a market where it's badly needed causes older people concern. There may be nowhere suitable to move, even if it makes financial sense and our obsession with property inheritance makes it culturally challenging. Also many quite reasonably feel they have paid their dues (and mortgage) and shouldn't be under pressure. Incentives to encourage older people to vacate prized housing may well make a Budget day appearance. This week I'm looking at down-sizing for those who are considering it. Advantages - There is no Capital Gains Tax (CGT) liability on selling your principal private residence, meaning you keep all the money and become a cash buyer for a new home, putting you ahead of mortgaged buyers. - Freeing up cash can supplement your income in retirement, to travel or invest, or you could buy two properties: one to live in, one to rent … [Read more...] about Home alone 2: should OAPs sell up?
(StatePoint) From city apartments to beach houses, vacation home rental sites like Airbnb, VRBO and others have become popular among homeowners and travelers alike. Renting your entire house or even just one room, especially if there’s a big event coming to your town, can be a wonderful way to earn extra income, but it can also expose you to unexpected and potentially costly risks. Before you start seeing dollar signs, learn how to rent your home like a pro.• List Through a Vacation Rental Site: Posting an ad is free on some sites and eliminates some of the legwork involved. Some sites will verify users’ identities, provide guest and host reviews and let you set your own rental price.• Have the Right Insurance: What if your renter accidentally spills something on a pricey rug or a valuable antique turns up missing? Or, what if someone slips on a wet floor or falls down the stairs? While some sites offer insurance coverage for hosts and landlords, other sites may … [Read more...] about 4 Tips to Help You Rent Out Your Space Like A Pro
It is the capital of one of Europe’s most popular holiday destinations but Palma de Mallorca will be the first city in Spain to ban private homeowners from renting their apartments to visitors. There will be fines of up to €400,000 for those who violate the new restrictions, which come into force in July. The measures mean tourists will no longer be able to rent apartments in multi-family residential housing. However, it will still be possible to rent detached homes and villas, provided they are not in a protected area. The decision comes amid a growing debate around over-tourism across Europe, with many destinations in Spain trialling new measures to curb the impact of visitors on local residents. According to El Pais, the number of unlicensed tourist apartments in Palma increased by 50% between 2015 and 2017, while rental prices for residents have risen by 40%. The Spanish newspaper also noted that only 645 out of 20,000 apartments have the proper licence. Complaints from … [Read more...] about Palma de Mallorca to ban residents renting apartments to tourists