There is a city which is suffering a worse property bubble than Sydney, whose residents are more priced-out than Londoners, and where there is a greater divide between the housing haves and have-nots than even San Francisco.
That city is Vancouver, and in response to these mounting challenges, the west-coast Canadian metropolis recently imposed an extraordinary new tax on foreign buyers – whose impact is now being watched closely by other cities grappling with bloated property markets. — theguardian.com
It’s not a new argument to say that cities are increasingly morphing from social configurations to investment vehicles. [...]
“Self-builds”, “Baugruppen”, and “zelfbouw” are just a few ways to define variations of building-it-yourself (BIY), whether done individually or as a collective. The end users (who are the commissioners), together with architects, decide on the design of their homes, and then take care of the construction themselves or have contractors do it. — failedarchitecture.com
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Prices of chairs, tables, sofas and other pieces, particularly those of Scandinavian origin, from the late 1940s through the early 1960s have increased dramatically in recent years and show no sign of falling soon...[It] reflects an increase in overall real-estate activity, which in turn has driven a demand for furniture. The economy has been strong enough to drive the auction market for high-end furnishings and artwork to new highs... — The Wall Street Journal
A raft of museums, most backed by private money, are springing up in what is, for many, an unlikely cultural hub: Beirut, the capital of Lebanon [...]
The design competition launched on 1 October; the architect Zaha Hadid is on the jury along with Hans Ulrich Obrist and Julia Peyton-Jones of London's Serpentine Galleries.
Salamé, who founded the Aïshti fashion chain, invested $100m in funding a contemporary art museum, designed by the British architect David Adjaye, in Jal El Dib [...]. — theartnewspaper.com
The cranes are going up all over universities. A new student village here, an extension to the business school there, airy atria everywhere, even a scattering of 'iconic' or 'signature' buildings aspiring to be on shortlists for architectural awards. Higher education is investing unprecedented amounts in infrastructure – for good and necessary reasons but maybe for bad ones too. — The Guardian
UCL Institute of Education professor Peter Scott comments on the rising trend of English universities leaning toward what he describes as "American habits" at a time when universities are investing greatly in campus construction. Scott lists promising reasons like the upgrading and preservation of...
Founder Norman Foster... sold a 40pc stake in the firm for £84m in 2007 when commercial property valuations were soaring.
The private equity group is selling its stake back to Foster & Partners for £108m, plus a further £40m interest payment.
Foster & Partners faced a challenging environment during the recession and while estimates valued the business at £300m in 2007, it had amassed a debt burden of £340m by the year ending April 2009. — telegraph.co.uk
The Winter Olympics in Sochi are just a few days away. Russia has spent $50 billion on everything from construction to security, making these the most expensive games in history. [...]
"I think one of the knee-jerk reactions has been ... 'will we be left with a load of white elephants?' " he adds.
The answer from most economists who study the Olympics is: Yes, you will. — npr.org
[...] developer Ben Miller says, until now, it’s been impossible for local people to invest in development right across the street.
“Who owns your environment? You don’t know,” he says. “Who’s building your environment, who’s building your city? Not you.”
Miller is co-founder of the group Fundrise, which has started selling shares of private real estate projects to the public online. [...]
First they bought 1351 H Street with private capital, then crowdfunded about a third of it. — marketplace.org
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