Russia's richest

Russia's richest woman buys Fame Academy mansion for £50m

What property slump? Russia's richest woman buys Fame Academy mansion for £50m - only a year after it was sold for £32m

Wealthiest wife in Russia: Elena Baturina is worth £1.3billion

With most homeowners worried about the plunging price of their property, there's always the exception that proves the rule.

After being sold last year for £32million, the biggest private house in London bar Buckingham Palace has just been bought for £50million - a 56 per cent rise in 12 months.

Witanhurst, a 90-room Grade II Queen Anne listed mansion in Highgate, is the latest investment by the Mayor of Moscow's wife Elena Baturina.

She is the richest woman in Russia in her own right with a fortune of £1.3billion.

The property has been used for the BBC's Fame Academy in the past and the Queen even played tennis there as a girl at a pre-Wimbledon party hosted by a former
owner.

It is in a dilapidated state, with holes in the ceilings and crumbling cornices, and no work has been done on it since it was bought from an Arab family by property developer Marcus Cooper last July.

But with her company, Inteco, said to be the most successful building conglomerate of the post-Soviet era, 45-year-old Miss Baturina should have no problem restoring Witanhurst to its former glory.

Something of a controversial figure in Russia, Miss Baturina is said to have her pick of many of the more lucrative construction contracts in Moscow.

Earlier this year, she and her husband - who have links to London's former mayor Ken Livingstone - also bought a home in Holland Park.

It is thought that Witanhurst with its many high ceilings will provide ample space to display Miss Baturina's lavish art collection.

Its renovation will be on a grand scale since she does not do things by halves.

When, for example, she and Luzhkov failed to find a suitable school for their two daughters, she decided to build her own, complete with state-of-the-art security.

Witanhurst is set in seven acres in a conservation area on Highgate West Hill. The main house dates back to the early 18th century and has featured in period dramas including Nicholas Nickleby, the thriller Dead Gorgeous and lesbian bodice-ripper Tipping The Velvet.

Biggest house in London (except for Buckingham Palace). Witanhurst has 90 rooms

Lavish: Witanhurst has 40,000 square feet, with a grand reception hall, 25 bedrooms, 12 bathrooms, five acres of gardens

Soap magnate Sir Arthur Crosfield bought the building in 1913 with the intention of creating a house to impress the highest echelons of British society.

He commissioned architect George Hubbard to come up with a Queen Anne- style extravaganza.

When he finished in 1920, Hubbard did not disappoint.

Guests would drive up through a three-fingered gatehouse and would be ushered into a teak hallway so big that it would leave even the brashest, self-important guest gasping.

Witanhurst has 90 rooms spread across three floors, including 25 bedrooms. One of the largest is the 70ft Grand Ballroom. There are also extensive terraces.

Entertainment: The mansion has a huge amount of space to entertain guests

It has oak flooring and the timber wall panels are in walnut, with carved cornices embellished with gold leaf.

Sir Arthur's wife took full advantage of her home. She held the must-be-seenatparty before Wimbledon each year.

It attracted, among others, the future Queen, Princess Elizabeth, who was snapped heading up the steps to the house from the tennis courts in 1951.

Wealthy family: Moscow Mayor Yuri Luzkov, with his wife Elena Baturina (right) and two daughters

Eventually, however, it fell into disrepair and had been on the market for some time when Mr Cooper bought it on July 18 last year. Six weeks later he put it back on the market for a rather ambitious £75million.

At the time he claimed that, once restored, it would be worth £150million.

UK House prices

UK House prices fall - Eastern Europe House prices rise

Eastern Europe is becoming more and more popular with British and American property investors
Statistics from Holiday-Rentals showed that while traditional European markets such as Spain were still dominant, less-established markets were attracting an increased level of interest especially with the price of property falling in the US and UK.

Bulgaria was highlighted as one location that had seen a significant surge in the number of holiday home buyers from the UK in recent years, along with Croatia. Whilst apartments in Bucharest Romania were also on the rise for expats.

There is a growing market of Eastern Europe with people buying property for rentals to holidaymakers.

East European countries offer highly affordable properties with high capital growth rates 11to 15%.

Improvements with transport and infrastructure is another reason for its greater popularity, as eastern Europe is now much easier to reach than it was several years ago.
Croatian National Tourist Office has seen a huge increase in UK holiday makers and investor in seaside homes

Property boom

Property boom hits Poland as European investors go east

Poland has jumped to the top of the European house price growth league table after property values there soared 33% last year, according to a study published yesterday. Locals and foreign investors who were smart enough to buy property in Krakow, Poland's ancient royal capital, are toasting a 58% rise. That makes the medieval city Europe's top-performing location.

The Royal Institution of Chartered Surveyors looked at the rates of house price growth in 26 European countries, and named other star performers as Denmark, Bulgaria and Estonia. Most countries saw solid house price inflation in 2006, with European markets failing to follow the lead from across the Atlantic, where the US property market ground to a halt.

Last year was supposed to be the year when housing markets in Europe cooled, dampened down by interest rate rises, increasingly stretched affordability and a supply increase in many markets, said the report's author, Michael Ball, a professor in the department of real estate and planning at Reading University. But in the main, Europe's housing markets had "another strong year," with several countries, including Britain, enjoying significant increases in their rates of price growth. The only country to experience a slight fall in prices last year was Portugal, while Germany continued its poor run with zero growth.

Professor Ball's report suggests that 2006 was very much Poland's year. While the influx of Polish plumbers and other workers into the UK has grabbed headlines it would appear that the traffic has been two-way, with growing numbers of British and Irish investors snapping up apartments in Warsaw, Krakow and Gdansk. Added to that, Poland now boasts one of the fastest economic growth rates in Europe, and that means growing numbers of Poles can now afford to buy. "People are desperate to move from the communist, drab apartment buildings," said Henry Wilkes, head of central and eastern European investment at estate agent Savills.

Another factor is the relaxation of lending rules which has led to more competitively priced mortgages.

Such high demand is outstripping supply, and the result has been an acceleration in the rate of house price growth in Warsaw - from 28% in 2005 to 33% in 2006. Krakow's 58% price growth has been partly attributed to the fact that a number of British and US companies have decided to open offices there, and to its burgeoning tourism industry; the city has been dubbed "the new Prague".

The Scandinavian countries continued their impressive growth. In Denmark, prices jumped by 22% last year following a similar rise in 2005, while Norway's annual rate of growth more than doubled to hit 17%, and Sweden also made it into double figures with an 11% rise.

"Something is clearly afoot in northern Europe," said Professor Ball. He added that some experts had suggested that high price expectations in an era of relaxed mortgage lending were driving up inflation.

Of the "big four", Britain, France, Germany and Italy, only the UK outstripped its 2005 performance, with house prices rising 10%, partly reflecting the lack of housing supply.

Krakow

The medieval city of Krakow has seen prices rise by up 58% and by 100% in the sought-after centre, which miraculously escaped destruction during the second world war.

"I expect this market to at least double over the next five years," says John Naughton, who runs TNIproperties.com from Krakow. The city is a three-hour flight from London. One-bed city centre flats start at £60,000 and rise to £110,000. A three-bed luxury apartment on the main square has a price tag of £650,000, but prices drop to £30,000 a half-hour walk from the centre.
Jill Papworth

Real Estate

Dubai - The new desitination of intelligent investors in property. Home to some of the most prestigious buildings in the World, rich with every contemporary comfort. Yet, the allure of its natural splendours and manmade wonders make Dubai a favourite haven for visionary minds.

The recent decision to permit purchase of property by non-citizens of UAE in Dubai in certain designated freehold areas has seen a boom in construction property. The attractiveness of Dubai as a hub for the Middle East and African region has seen a growing interest in real estate. The returns offered in the property market during the last few years have been phenomenal. The high rentals have too made purchasing real estate a much sought after option.

The decision of the government of offer residence visa to individuals who purchase real estate has led to a number of persons to make Dubai their second home so as to be in the midst of the action happening as well as to save on taxes on their global income due the tax free status.

The options available for purchase of real estate vary from studio apartments to spacious villas. The most sought after properties is in the Palms, an iconic manmade island in the shape of Palm tree. It is best to go in for reputed builders as one is assured as to delivery, quality of constructions and after sales maintenance.

A number of banks and finance companies offer finance for purchase of property that goes up to 90% of the cost of property. In certain cases, the interest is subsidised due to a deal with the developer. The repayment term varies from 5 to 25 years depending on your balance employment life.

Property price in melbourne had went up 25.2% in 2007. For those who need a place to live, fair enough that they decide to purchase one now. For those who wouldn’t mind renting, there is no harm waiting for another year to see which direction melbourne property heading to. With the likelihood that interest rates will rise again, it is expected that the growth of the property in melbourne will slow down. If you do take note of the news, you would have heard how well perth property did last year. The significant growth is mainly due to the resource boom during then. This year Perth property growth is only 1.7%. Why in a hurry to get one at this point of time where the price for melbourne property is at the peak ? Of course there will always be a what if question. What if the price keeps on going up ? The only what if question I have in my mind would be .. What if the growth rate in Melbourne for this year is less then 2% ? Since putting money in saving account gives you higher return then that, 2% growth is negligible. I am not saying that putting money in saving account is a long term solution. What I am trying to say is now you would have more time to consider on how to go about getting one rather then making the decision to get one now. To commit your self in a property now, the biggest what if will be the interest rate. If property price is stagnant and the interest rate is going up, wouldn’t it be wise to see how is things like in half a year ti

Umalas (DownTown)

Umalas is unique among villages in Bali in that it offers the best of all worlds. The southwestern village spans between a grid of major roadways accessing the island and the western coast. It is strategically positioned about 25 minutes from the international airport, near shopping and entertainment outlets.

Next to the popular Seminyak village, Umalas has quick access to everything one needs, but provides a natural environment peppered with working rice fields and clear water streams, and authentic village atmosphere that is otherwise found only far beyond the tourist-crowded southern Bali. Indeed, farmers go about their daily tasks in verdant rice fields. Bali’s best restaurants-from Ku De Ta to Warisan--most stylist boutiques--be it Zeenergy, Body& Soul—and top speciality markets—Bali Deli, Dijon and Papaya—are just minutes away.

Umalas offers a taste of the real Bali is all about, in the surrounding of quietude and nature but just minutes away to popular tourist spots, such as Restaurants, Bars, Shops and Beaches

Villa Imani Overview
Imani One is a single-storey 2 bedroom villa comprised of two thatched pavilions, living and bedroom pavilions, positioned around a 5 x 8 metre lap pool within a walled courtyard garden. As guests enter the garden, they will traverse an ornamental pond, complete with lilies and bubbling water features in twin pots; The pond links the pool and the open-air living pavilion. There are two sunbeds, and the pretty garden is planted with palms, frangipani trees, spider lilies and heleconia.

- 2 Bedrooms Villa with A/C and ensuited bathroom.
- Open-air Livingroom with 29” TV, DVD and Indovision
- Private swimming pool
- Westernstyle Kitchen with Kitchenware
- 300 m2 living space
- Butler servicev

Villa Imani Living & Dining Pavilion
The open-sided living and dining pavilion features a soaring ‘alang-alang’ roof supported by pillars above a black terrazzo floor. Ceiling fan & gentle breezes keep the area cool. The pavilion is tastefully furnished with a deeply cushioned modern sofa, an oval coffee table, and a wooden armoire housing a satellite TV and Mini DVD home theatre. There is also a circular dining table with four chairs, a powder room with toilet and washbasin. The pavilion also integrates an open-plan kitchen located behind an L- shaped black terrazzo bar with an eye-cathing metallic mosaic façade. The kitchen is equipped with a six-burner gas stove, oven, microwave, refrigerator, water dispenser, and a good range of kitchenware and utensils

Villa Imani 2 Bedroom
The two self-contained bedrooms, with their en-suited garden bathrooms, are each measuring 5x5 square meters, each with a cool cream terrazzo floor and a large windows that admit plenty of natural light. Each is furnished with a king-size bed, working desk, chair, TV with local channels, a safe deposit box, ceiling fan, and a tea&coffee making facilities.

A Period Home of Your Dreams

Decision, decisions, decisions...

If you're planning a move to the country and have the flexibility of picking your type of property, do you go for mellow timbers of Tudor? The decorative detail of Georgian perhaps? Maybe the solidity and modern conveniences of Victorian? Or why not the traditional methods and styles of Edwardian?

Each period has a certain style that will appeal to us over others, so read our guide to help you narrow the search for your dream home.

Tudor (1485-1603)
Characterised by their classic black and white woodwork, Tudor buildings are the earliest to survive in any significant quantity as dwellings.

Pros
Chocolate-box charm.
Cosy, quirky interiors.
Plenty of mellow timbers.
Small windows and timber construction retain heat in winter.

Cons
Small windows and ubiquitous woodwork can make interiors appear gloomy.
Rooms tend to be on the small side and haphazardly laid out.
There is often no corridor to speak of upstairs - bedrooms lead from one to another.
Bathrooms have to be cunningly inserted.
Tall occupants risk regular knocks on low beams and doorways.

Georgian (1714-1820)
Probably the most sought-after of all country properties, the Georgian period boost elegant exteriors with spacious rooms and high ceilings.

Pros
Unrivaled elegance.
Rational layout.
Fine fittings and decorative detail.

Cons
Modern lack of servants to run the house.
Large windows and doors to lose heat.

Victorian (1837-1901)
Following on from the grace of the Georgian period, Victorian architecture followed, bringing quality workmanship, family-oriented design, with a delightful excess of materials.

Pros
Solidly built.
A great range of styles and sizes.
Modern conveniences in a period setting.
Well proportioned.

Cons
Architecturally awkward, according to some peoples' taste.
Rigidly compartmentalised between 'upstairs' and 'downstairs'.
Often high-maintenance, with numerous individual offices and external decoration.

Edwardian (1901-1910)

Designed with all the mod cons, Edwardian houses are considered by many to be the ideal dwelling, displaying quality workmanship with modern conveniences.

Pros
Planned with modern conveniences in mind.
High-quality construction.
Delightful detailing.
Use of traditional methods and styles.

Cons
Kitchens tend to be on the small side.