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Grosvenor, which controls the Duke of Westminster's property assets, is creating a new club-group alliance to invest in Tokyo real estate, which it feels offers the best potential in Asia.  appart hotel The corporation normally selects cities for investment, with Tokyo, Shanghai, Beijing, and Hong Kong being the most recent. However, concerns over China's slowing development, as well as credit tightening on the mainland and in Hong Kong, have prompted it to change course. "Right now, we perceive the most advantageous price in Tokyo," Nicholas Loup, Grosvenor's Asia Pacific chief executive, told WPC News. "China is undergoing certain macroeconomic changes, with a focus on shadow banking and monetary constraints. Some of these limitations apply in Hong Kong as well." Grosvenor has begun raising funds for a new fund in which it will partner with two to three additional investors to raise $250 million to $300 million. Because the partners will form joi...

China's Dalian Wanda Group revealed plans to create the world's largest film studio complex in Qingdao on Sunday, making it the company's latest headline-grabbing move . apartments for rent The Oriental Movie Metropolis will span 540 acres and have 20 studios, as well as the world's first permanent underwater studio. The business announced at the announcement ceremony, which included such Hollywood A-listers as Leonardo DiCaprio, John Travolta, Nicole Kidman, and Catherine Zeta-Jones, that one of the studios will be the world's largest, covering 10,000 square meters. In a statement, Wanda Group chairman Wang Jianlin stated, "Qingdao Oriental Movie Metropolis is a key step to implement the national policy of building a cultural power, a key strategy for Wanda's cultural industry development, and a huge attempt to create China's global cultural brands." Mr. Wang, who was just crowned China's richest man, owns 100% of Dalian Wanda, a company...

St. James, London, is home to several of the world's wealthiest hedge funds and sovereign wealth funds, making it the world's most expensive office space neighborhood.  apartments According to a research from Jones Lang LaSalle, St. James leads a list of the world's top 12 most expensive locales with an average cost of $194 per square meter per year, beating neighborhoods like Hong Kong and Beijing. According to JLL, the top locations on the list are benefiting from a scarcity of available space and strong demand from specialty financial and technological sectors, which is driving office rates higher around the world. In the medium term, the firm anticipates the same mix of locations to top the list, although sector-specific economies such as Silicon Valley in California are rising the rankings. Menlo Park in Silicon Valley, which is known for its technology, is now ranked sixth on the list. "With premium rents in a number of U.S. cities' central business districts...

As a result of several new laws, STRONGLY PRO-LANDLORD has been pro-tenant in Japan's law and practice.  appart hotel Rents: In Japan, can the landlord and tenant agree freely to rents? In Japan, rents are freely negotiated. If they agree, for the following reasons, the rent may be adjusted Modern luxury house in Japan if the rent is inappropriate due to tax changes or other land or building burdens; where the case is inappropriate due to land or construction price changes or other fluctuations due to economic fluctuations; and Where the rent is inappropriate compared to similar nearby units. There is a system of public housing which provides low/subsidized rent for the needy. The subsidy amount decreases if the income of the tenant goes beyond the allowable limit. However, the public housing system also offers rental units at competitive rates for rich and medium income people. Deposits The rental value of about five to seven months is standard. The deposit shall be as follows: Bo...

Under the Japanese Civil Code, there are no restrictions on property gifts during the lifetime of the owner. However, after death, such gifts can be challenged. For example, if a claimant has the right to a legally reserved part, a challenge may be brought. Furthermore, a claim of nullity or a withdrawal from manifestation of intent may be made. To avoid such challenges, the donor must make sure that the legally reserved part of the claimant is not infringed.  apartments for rent In Japan, there is an immobilial registration system. The property registration system ensures the security of property transactions by giving public notice of the correct status of property rights. The person who is registered for the property is in principle treated as the owner. However, in the case of an inheritance, all heirs are considered owners of the property in common. If the property is to belong to a specific heir and the registry of the property is changed to indicate ownership of the heir, th...

Inheritance tax in Japan is based on the individual's residence status. Property receiving beneficiaries are subject to inheritance tax if they are domiciled in Japan. However, if recipients are not domiciled in Japan, the inheritance tax still applies if the property they inherit is in Japan. However, a person not domiciled could still pay heredity tax if he or she is of Japanese nationality and had lived in Japan at any time within five years of the death of the deceased. The registration tax for the confiding property is 0.4% of the valued value of the property.  apartments Heritage tax shall be levied at progressive rates of fair market value of less burial costs and taxes inherited from the property. Further deductions are permitted, depending on the heir's status: JPY10 million for each statutory heir (USD 91,743). JPY160 million for the surviving spouse (US$1,467,890). LAW INHERITANCE Nishimura & Asahi thanks What heritage laws are applicable in Japan? The national l...

The law in Egypt between landlord and landlord is NEUTRAL (The structure of the law is pro-landlord, as regards new contracts, but legal delays work against the landlord) . for rent Rents: Can tenants and landlords agree freely to rents in Egypt? The rent of the amount may be freely agreed between the parties. If a rent has not been agreed between landlord and tenant, rentals for similar properties will be determined by reference. The parties are free to agree on an annual rent increase schedule in the contract. These increases can also be linked to the increase in living costs by providing, for instance, that rents will increase in proportion to the annual inflation rate reported by the Egyptian Central Bank. Mediterranean properties of Egypt But rent increases on tenancies governed by former socialist laws No 49/1977, Law No 136/1981 or any earlier legislation are virtually impossible to obtain. These laws apply to contracts concluded before the 1996 reforms, including ...

In Estonia, there are no inheritance tax laws. However, income tax shall be applicable to gains from the transfer of property receivable as a gift or inheritance.  estate agents Some gains are tax-free, such as: Gains from the sale of the primary residence of a taxpayer; Profits of the transfer of a summer cottage or garden house owned by the taxpayer for over 2 years. LAW INHERITANCE Thanks to Concordia's lawyers What are the laws of heritage in Estonia? The legacy shall be governed by the law of the deceased's last country of residence. Estonian Heritage law (EIL), Private International Law (PIL) and Code of Civil Procedure govern heritage in Estonia (CCP). The current EIL shall be valid until 31 December 2008, and a new Inheritance Law shall apply from 1 January 2009. Foreign property owners who are members of different faiths or nationalities or foreigners who do not live in Estonia shall not be treated differently by law. Heritage shall be governed by...

Publication by the research team of the Global Property Guide. Costa Rican Properties Costa Rica is not only a country of beaches, coffee and black beans. It is a treasure trove of natural landscape, exotic birds, and mammals.  discount Christopher Columbus was the first European to set foot on the Costa Rican soil in 1502. It became a Spanish colony. However, Spain left the region largely alone, due to its relative isolation and distance from the main colonial cities, and Costa Rica became one of the poorest Spanish colonies in the region. Nevertheless, Costa Rica's socio-political, cultural and religious conscience was strongly shaped by the colonial rule of Spain and by the Catholic Church. The majority of Costa Ricans are white, many of them Spanish. There are relics of the American cultures living here before the Spanish came, and a very small part of the population is Amerindian. Costa Rica is a developing country and Central America's smallest country. It has 5 d...