GSIR’s Director of International Initiatives attends AREAA’s 2016 Global and Luxury Summit

12973464_10156827538310038_1778135463122463176_oBeth Heard-Laffey, Gibson Sotheby’s International Realty’s Director of International Initiatives, attended AREAA’s 2016 Global and Luxury Summit in Honolulu, Hawaii last week.

The Asian Real Estate Association of America (AREAA) is a nonprofit professional trade organization dedicated to promoting sustainable homeownership opportunities in Asian American communities by creating a powerful national voice for housing and real estate professionals that serve this dynamic market. AREAA is the only trade association dedicated to representing the interests of the Asian real estate market nationwide. Read more

Real Estate News: Why Property Investment is Thriving in Boston

The March 2016 Investment Intensity Index reports “real estate investment activity at near-record levels.” Surpassing other potential capital-return opportunities and dodging economic turmoil, global real estate investment continues to skyrocket at a profitable rate. In 2015, the total direct real estate investment columns reached $705 billion – only 7 percent below the record high of $758 billion in 2007.

Far above cities such as Shanghai and San Francisco, Boston sits high atop the investment charts as one of the most profitable New World Cities. A New World City is essentially one that makes up for its comparatively small stature by punching above its weight. Opposed to Established World Cities such as London or New York, and Emerging World Cities like Beirut, this happy-medium metropolitan class is the ideal combination of prosperity and efficiency. Investors are looking to place their stakes in these smaller, more innovative cities with transparent, open markets. Read more

Real Estate News: GSIR Surges to the Top of the Cambridge Market

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Gibson Sotheby’s International Realty’s Cambridge office has started off the spring market with a bang, ranking number one in MLSpin for March 2016. “This comes as no surprise to us. We compiled a hand-picked team of top producers who regularly dominate the market,” said Larry Rideout, CEO and Co-Owner of Gibson Sotheby’s International Realty. “As we build momentum, you will see some game changing properties coming from our Cambridge office and our entire company.” Read more

Real Estate News: Greater Boston Market Continues to Make Gains in February

The Massachusetts Association of Realtors® (MAR) reported that February proved to be another record month for closed home sales throughout the state, as buyer activity pushed closed sales to its highest levels for the month since 2004.

More specifically in the Greater Boston area, high buyer demand, low mortgage rates and a strong job market continued to spur housing market activity in according to data from the Greater Boston Association of REALTORS® (GBAR). “The combination of low mortgage rates, rising home values and a lack of snow this winter have led to above normal demand over the first few months of the year,” said GBAR President Andrew Sarno “As busy as we’ve been, sales could have been even stronger had we had more homes to sell.” Read more

Real Estate News: South End’s Tallest New Development

The South End’s tallest new project which includes over 700 residential units is planned to sit on a 3.1 acre site surrounding 575 Albany Street. Currently at the site are five buildings three of which will be demolished by the lead developer.

Screen Shot 2016-03-24 at 2.17.20 PM Read more

Sotheby’s Auction House: The Shirley Temple Blue Diamond

Legendary child star, Shirley Temple’s blue diamond ring will be on auction April 19 at the Sotheby’s New York Auction House.

Shirley Temple’s father purchased the 9.54-carat fancy deep blue diamond ring in early 1940 around the time of her 12th birthday.

For more information click here. 

Sotheby’s International Realty News: Brand expands presence in Argentina and Netherlands

The presence of our brand continues to grow at lengths across the entire world. Just last week the Sotheby’s International Realty network expanded across Argentina and into the Netherlands.

Ginervra Sotheby’s International Realty in Argentina, owned and operated by Mercedes Ginevra will now provide luxury residential real estate services throughout the country focusing on Puerto Madero, San Isidro, Mendoza, Salta and La Patagonia.

“Argentina is steeped in rich history with a varied terrain from the inland mountains to resort towns and imposing cliffs along the coast, catering to many different lifestyles,” said Philip White, president and chief executive officer of Sotheby’s International Realty Affiliates LLC.  “Argentina has an important position in the South American luxury market and this expansion provides a wider footprint in one of the most diverse countries in the world.”

In the Netherlands, Sotheby’s International Realty Affiliates LLC has signed a 25-year franchise agreement with Redres NL BV to expand the brand throughout with the opening of Redres Sotheby’s International Realty.

“The Netherlands has a growing luxury real estate market and it was the right time for our brand to have a presence within the country,” said Philip White, president and chief executive officer of Sotheby’s International Realty Affiliates LLC.  “Amsterdam is a key city in the Netherlands that offers a strong and diverse international audience.”

The Sotheby’s International Realty network currently has more than 18,800 affiliated independent sales associates located in approximately 835 offices in 63 countries and territories worldwide. Here at Gibson Sotheby’s International Realty we congratulate Leonard Kaiser, Brad Barker, KaLinn Dishion, their teams and the Sotheby’s brand for these two significant achievements.

Take a look at our previous blogs below in order from most recent to older news to read about other grand openings to see just how far the Sotheby’s brand has come.

Source: Sotheby’s International Realty 

Sotheby’s International Realty News: Brand Further Strengthens Presence across United States

Sotheby’s International Realty® Affiliates LLC has announced two of our networks newest members, Kaiser Sotheby’s International Realty in Alabama and Group One Sotheby’s International Realty in Idaho.

Kaiser SIR, owned and operated by Leonard Kaiser will service Baldwin County and the greater Coastal Alabama area with two offices in Orange Beach and Gulf Shores, Alabama. This is the first Sotheby’s International Realty® affiliate company in the state of Alabama.

Meanwhile in Idaho, Group One SIR, owned and operated by Brad Barker and KaLinn Dishion, will serve the markets of Boise, Eagle, Meridian, Nampa and Star. After 33 years as an independent real estate firm, Barker has chosen to affiliate with our extraordinary network elevating heir services with a powerful boost.

The Sotheby’s International Realty network currently has more than 18,800 affiliated independent sales associates located in approximately 835 offices in 63 countries and territories worldwide. Here at Gibson Sotheby’s International Realty we congratulate Leonard Kaiser, Brad Barker, KaLinn Dishion, their teams and the Sotheby’s brand for these two significant achievements.

Take a look at our previous blogs below in order from most recent to older news to read about other grand openings to see just how far the Sotheby’s brand has come.

Source: Sotheby’s International Realty 

World News: Top 10 Most Expensive Cities in the World

What are the 10 most expensive cities in the world?

According to the Worldwide Cost of Living 2016 report from The Economist Intelligence Unit, New York and Los Angeles are amongst the ten most expensive cities in the world.

The complete list of the ten most expensive cities in the world include:

1. Singapore – Singapore
2. Switzerland – Zurich
3. Hong Kong – Hong Kong
4. Switzerland – Geneva
5. France – Paris
6. UK – London
7. US – New York
8. Denmark – Copenhagen
9. South Korea – Seoul
10. US – Los Angeles

The Worldwide Cost of Living is a bi-annual (twice yearly) Economist Intelligence Unit survey that
compares more than 400 individual prices across 160 products and services. These include food, drink, clothing, household supplies and personal care items, home rents, transport, utility bills, private schools, domestic help and recreational costs.

Read more on the WSJ or view the full report here.

Source:  Worldwide Cost of Living 2016 report

Featured Sotheby’s International Realty Affiliate: A Slice of Paradise in the Mediterranean Called Malta

shutterstock_343907708 (1)Singled out by International Living in 2016 as having the best climate in the world, Malta is attractive in its own right for being warm and sunny year-round. Encircled by inviting waters and being remarkably rich in character, culture and history shaped along the centuries, it is already very hard to resist its disarming charms on this basis alone. The island also proved its resilience in the face of the global economic crisis and while managing to retain its financial stability, it also succeeded at becoming an emerging financial hub and achieving among the highest social and economic growth rates within the EU.

The small island nation has found a way to seal the deal for those who are lingering in making up their mind about moving there – Malta offers several economic incentives to foreigners who choose to invest there and have ease of mobility to the rest of Europe through its Individual Investor Programme (IIP).

Malta’s IIP was named one of the best long-term investments available to High Net Worth Individuals in the ‘Homes as Opportunity Gateways’ report published by Wealth-X in collaboration with Sotheby’s International Realty in 2015. The tiny Mediterranean island is succeeding at making a big name for itself and its citizenship programme internationally due to its excellent lifestyle offering and business opportunities.

Reputable individuals who submit a successful application to Malta’s Individual Investor Programme will be granted naturalisation following investment by contributing to the country’s economy and social well-being. It is safe to say that such investment has enabled Malta to make giant leaps forward in this regard and this advancement has in turn continued to attract further investment towards the island’s shores.

Malta’s citizenship programme and the island’s lifestyle have churned the demand for luxury real estate around the island for the past years as eligible IIP applicants and affluent buyers were increasingly attracted to the island. Thus, Malta moved on to develop this sector in order to cater for the rising demand and nowadays boasts a competitive product. Residences situated within luxury lifestyle developments such as Tigne Point in Portomaso in the cosmopolitan towns of Sliema and St. Julian’s are the most highly demanded, yet converted homes tucked away within Malta’s old village cores are incredibly sought after for their timeless charm and unique architectural features.

For such a small place, Malta offers a wide variety of accommodation, both for sale and for rent, ranging from large houses surrounded by their own garden and land to penthouses and apartments in various layouts and sizes.

The other piece of good news surrounding Maltese property is that the real estate sector in this country is quite stable and property values go up year on year, as the Maltese are avid investors in real estate. Having said that, it can be hardly considered presumptuous to state that Malta has a little bit of everything and once you are there will easily find yourself at home, away from home.

If you are looking to relocate or would like more information on Malta’s Individual Investor Program, contact us today – 844.667.6663.

Real Estate News: 10 Residential Developments to Watch in Boston and Cambridge

Millennium Towers
422 Luxury Condominiums
MT

Four Seasons Hotel & Private Residences
180 Luxury Condominiums plus a Four Seasons Hotel
18616-62761Kendall Square Initiative
250 Housing Units for Graduate Students and an additional 250 Units for General Population
MIT4-thumb.0Washington Village
656 Residential Units
washingtonvillage2The Viola 
173 Apartments and Condominiums in Addition to a 156 Room Hotel

HA-revised-low-violalo188 Ames Street 
280 Apartments

yjbizzqnlvpgkpz0xeqcNorthPoint Site
2,800 Apartments

Fall-2010-AerialDot Block
450 Apartments and Condominiums

dotblock7.0The Hub at Causeway
More than 1.5 million square feet of shops, restaurants, offices, hotel rooms, and residences.

t1.0Parcel 1B
239 Residential Units

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Source: Curbed – Boston, Cambridge

Sotheby’s International Realty News: Brand Expands Presence in Ireland

irelandSotheby’s International Realty Affiliates LLC has announced that the brand is expanding its global network into Ireland with the formation of Ireland Sotheby’s International Realty. Led by seasoned professionals David Ashmore and Bill Montgomery the firm’s main office will be located in Dublin and offer luxury services throughout Ireland.

Sotheby’s International Realty is dedicated to providing our network’s exclusive real estate services in luxury property destinations around the world,” said Philip White, president and chief executive officer, Sotheby’s International Realty Affiliates LLC.  “Dublin is a vibrant and important city with its rising luxury real estate market and unique culture.  We are proud to expand the brand’s presence into Ireland and welcome Ireland Sotheby’s International Realty to our network.”

“Ireland is truly becoming a destination for international buyers of luxury residential real estate,” said Ashmore.  “As a member of the Sotheby’s International Realty network, we are able to take advantage of the brand’s global platform and access an audience far beyond our local reach.  We are delighted to be joining this esteemed network.”

Our network continues to grow at lengths as we have a presence in over 63 countries and territories worldwide encompassing 18,800 dedicated real estate sales associates. Here at Gibson Sotheby’s International Realty we would like to congratulate David Ashmore, Bill Montgomery, their team and the Sotheby’s brand for this significant achievement.

Take a look at our previous blogs below in order from most recent to older news to read about other grand openings to see just how far the Sotheby’s brand has come.

Source: Sotheby’s International Realty 

Real Estate News: Greater Boston Real Estate Market Sees Strong Start in 2016

The Massachusetts Association of Realtors® (MAR) reported that 2016 started where 2015 left off with closed sales continuing to go up on strong buyer demand. Activity in the final months of 2015 pushed closed sales to its highest levels for a month of January since 2004. The same can be said in the Greater Boston area with steady housing and a healthy economy. The Greater Boston market experienced an overall increase in residential property sales during January. Sales for detached single-family homes rose to a new record level for the month according to the Greater Boston Association of REALTORS® (GBAR).

“Last month’s sales figures are indicative of a positive start to 2016, as we saw an overall 19.7 percent closed sales increase on January of last year,” said GBAR President Andrew Sarno. “A healthy local job market has continued to drive buyer demand and as a result, prices and home values remained strong for the month of January.”

Sales of detached single-family homes improved on an annual basis for an eighth consecutive month in January, and increased 17.9 percent on the January 2015 total of 717 homes sold to a new record 845 homes sold in January 2016. This sales volume surpassed the previous January record of homes sold in Greater Boston from 2005 of 816 homes sold.

Greater Boston Single-Family Market Overview

January 2015 January 2016 +/-
Closed Sales 717 845 +17.9%
Median Sales Price $485,500 $490,000 +0.9%
Days on Market Until Sale 84 73 -13.1%
New Listings 847 906 +7.0%

Condo sales saw a sharp increase on a year-to-year basis in January, with a 22.4 percent improvement from 486 units sold in January 2015 to 595 last month. This increase represents the highest total condos sold in Greater Boston since January 2007.

Greater Boston Condominium Market Overview

January 2015 January 2016 +/-
Closed Sales 486 595 +22.4%
Median Sales Price $447,000 $440,000 -1.6%
Days on Market Until Sale 59 58 -1.7%
New Listings 709 810 +14.2%

Sales prices in both markets fluctuated slightly. The condo market sales price dipped from the record-high median sales price of $447,000 in 2015 to $440,000 last month. Although this reflects a 1.6 percent decrease, last month saw the second highest median sales price in history in Greater Boston and given the increase in overall sales, reflects a higher concentration of entry-level condos sold this year.

Inventory continues to be the biggest hindrance in the Greater Boston housing market, as numbers in both markets fell last month. “We have noticed that low inventory across the board has affected some buyers, as the prevalence of multiple offer situations as well as the desire to buy now before a potential price increase has put some pressure on buyers,” added Sarno. “However, buyer motivation remains high and last month’s pending sales numbers indicate that buyers are still very active.”

More information here.

About the Greater Boston Association of Realtors: The Greater Boston Association of REALTORS® (GBAR) represents over 6,500 real estate professionals throughout the Greater Boston and Eastern Massachusetts area and is one of the local boards of the National Association of REALTORS® – the largest trade association in America. GBAR® provides professional development courses, standard forms, legal reports and updates, brokerage counseling, legislative and regulatory representation, ethics, mediation and arbitration services, as well as recognition awards.