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International Real Estate

International Real Estate

There are currently 9 blog entries related to this category.

Independence Hall and Gay Rights Demonstrations state historical markerThis past July 4, Philadelphians and the nation observed the 50th anniversary of a second landmark event to take place at Independence Hall, a UNESCO World Heritage Site since 1978. Odds are that by year's end, Independence Hall's hometown will become the first World Heritage City in the United States.

One of the world's best known urban World Heritage Sites is located in Philadelphia, and every July 4, Independence Hall is the locus of activities celebrating the ideals the founders of the American republic used as the foundation for a new nation in the document they signed on that day.

And now Independence Hall may pave the way for Philadelphia to become the first city in the United States to be admitted to a most noteworthy global club: the

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Aerial view of Philadelphia
If living in the Northeast is your heart's desire, it's still cheaper to live here than in our peer regions, according to a widely followed annual survey of housing affordability.

The 11th annual Demographia International Housing Affordability Survey (PDF) has just been released, and once again, its findings show that Philadelphia remains the most affordable large metropolitan area in a generally unaffordable region of the country.

Of the five Northeast metropolitan areas with populations above 2 million, Philadelphia was tied with Baltimore as the most affordable, according to the survey. Or maybe "least unaffordable" is more accurate: its median multiple of 3.7 puts it in the "moderately unaffordable" category. Of all metropolitan areas with 1

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Seems some folks in Ardmore still don't like Carl Dranoff's proposed downtown stimulus project; The author of that magisterial biography of Ed Bacon has a recommendation for a 100th birthday present for the Ben Franklin Parkway — putting the square back in Logan Square; An encounter between Mayor Michael Nutter and the son of Israeli Prime Minister Shimon Peres has launched a boomlet of Israeli firms interested in setting up shop in Philadelphia, drawn by the city's "European style"; and panelists at a discussion last night in Center City had plenty of ideas for making Philly more family-friendly while still keeping its appeal to younger Millennials:

Montco protest planned for Ardmore project (
The Parkway is a disaster — let's fix it! (Broad

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The Daily News tackles gentrification in Philadelphia from all angles and discovers that while it's essential to the city's future, it's not an unalloyed good; on a related note, a former city housing director proposes a novel strategy for mitigating one of gentrification's downsides; Hidden City's Nathaniel Popkin takes in the (non-)monumental scope of Dilworth Park and pronounces it a fitting front door to City Hall, even if there are Issues with a few of the details; and if the rent's too damn high — and in most of the Western world's large cities, it is — one of these drastic measures might bring it down, but each presents its own new set of problems:

The Problems and the Promise: Gentrification in Philadelphia (Philadelphia Daily News|

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The rise of the Twiggy skyscraper

[caption id="" align="alignleft" width="274"] "As leggy as a fashion model" is how Inga Saffron described the Kohn Pedersen Fox-designed hotel/condo tower developer Carl Dranoff will build at Broad and Spruce streets. Wait 'til she sees the stilettos that will rise above Central Park.[/caption] Something about tall, thin buildings, like tall, thin fashion models, just gets the aesthetic juices flowing. Consider the language Inga Saffron used in her review of Carl Dranoff's proposed SLS International Hotel and Residences, the first Dranoff building ever to win a rave review from her: "as leggy as a fashion model" is how she described its slender profile. Most tall buildings in this town don't have such svelte lines, and…
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Lunchtime Quick Hits

The University City Science Center's first high-rise is up for sale; Philly will be the host city when the World Forum on Foreign Direct Investment meets in the United States for the first time; City Council takes up Council President Darrell Clarke's affordable-housing initiative today; and The Lincoln will again house residents now that it has emerged from legal limbo: Owner of 3535 Market St. in Philadelphia looking to sell (Philadelphia Business Journal) Philadelphia to host global economic development conference (Philadelphia Business Journal) Low-income rentals and buys comes closer to realization (Philadelphia Daily News| The Lincoln Will Rise Again (Property blog|Philadelphia magazine)
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Well, now, aren't we smart! IESE ranks Philly 11th-best in the world

  Philadelphia skyline/a This is one smart town, according to the IESE Business School.[/caption] Yes, you read that right: Philadelphia is the world's 11th-smartest city. Okay, we need to elaborate on this a little, for you're probably still scratching your head the way Philadelphia readers did when the mag broke this tidbit on its website last week. We're not necessarily talking the collective IQ of the citizenry here; we have ample evidence that could still stand some improvement. Nor are we talking educational attainment, though thanks to a lot of hard work, Philly has made great strides in that department, especially in getting its college graduates to stick around after they graduate. What we are…
1,372 Views, 239 Comments.

Mortgage Market News Roundup, Week of Nov. 4

Home loans/aThe saga of the euro zone bailout resembled an old "Perils of Pauline" movie this week as fear and relief traded places regularly. First, investors worried that the euro zone member nations would be unable to reach a deal to avert a Greek default and stabilize the euro. Then, after a deal was announced to general relief, Greece's prime minister announnced he would put the matter up to a popular vote, sending the markets back into a tizzy. Now, the referendum has been called off and markets are breathing another sigh of relief. The net result, however, was good news for those in the market for real estate in Philadelphia and elsewhere. That's because the turmoil caused investors to pour money into U.S. debt…
1,241 Views, 108 Comments.

The Mumbai Monstrosity: The First $1 Billion Home?

/aBy: Patrick Rizzo From: LifeInc. This is not what India's Prime Minister Manmohan Singh was talking about when he called in 2007 for India's business leaders "to eschew conspicuous consumption." The Daily Telegraph reported Thursday that the richest man in India, who is also the fourth richest man in the world, just moved into what is likely one of the priciest pads on the globe: a 630 million pound ($1.08 billion), 27-storey-tall monstrosity in Mumbai. Here's what Mukesh Ambani, head of Reliance Industries, and his brood got for that price tag, according to the Telegraph: A health club with a gym and dance studio; at least one studio; a ballroom; guestrooms; a 50-seat movie theater; and three pads…
7,982 Views, 182 Comments.