Filed under: Real Estate | Tags: architecture, development financing, international property development
Criterion Global will soon release its mid-year market reports for 15 global markets, amid tumultuous credit conditions in many markets.
Luxury real estate is still holding strong by most accounts, yet even optimists note the 70-90% spike in US foreclosures in the past 18 months, and the dip in UK property values by as much as 30%, according to the Times of London this weekend.
Even still, Globe St. reports in “Credit no Object for Ritzy Brands”, that Hotel and Condo developers are finding funding for their loftier undertakings. At least some banks still agree with the party line that luxury is unaffected by correcting markets. Again, the importance of branding is underscored by Globe St.’s article, and what’s the point of paying for a premium brand without an intelligent marketing mix to get maximum global exposure?
For those who don’t know, Criterion Global is neighbour to the new, improved New York Times building in NYC, the third tallest in Manhattan, which was recently scaled by French daredevil Alain Robert. In honour of the opening of the new skyscraper museum here in NYC, the Times wrote up a fascinating piece on skyscrapers past, present, and future, with an eye toward their usefulness in containing the vastly growing population here on earth. Great article for anyone fascinated by the art, and business, of buildings…
