Luxury Real Estate for Sale Around the World

At the forefront of luxury real estate marketing, the proud the recipients of two awards from the esteemed Who’s Who in Luxury Real Estate The World’s Most Outstanding Luxury Agency Under 2 Years Old (Outstanding Rookie 2008) and Best Luxury Real Estate Brand (2009), Marquette Turner Luxury Homes is the home for your property search including luxury homes, resorts, developments, apartments, condos, villas, mansions, penthouses and islands throughout the world.

We focus on assisting high-net-worth individuals to achieve the most appropriate exposure in marketing their luxury properties via the luxury lifestyle magazine-style website MarquetteTurner.com and in assisting aspirational investors find their ideal property.

We have forged partnerships with developers, real estate agents and vendors throughout the world and are proud to present to you an exceptional showcase luxury homes for sale or rent throughout the world.

Thursday, January 31, 2008

How Much Money Do Real Estate Agents Really Earn?

We have all seen real estate agents driving luxury cars of all types. Some agency car parks are like the “magic mile” of German sports cars so the question is how much do agents really earn? Is real estate the easy way to earn your first million dollars?

People generally don’t come straight out and ask what I earn, however there are always comments like “You must be doing well for yourself”. The instant perception is that a tailored suit, polished shoes and a BMW equal success. This is probably the conclusion I would draw if I were to see a person randomly in the street and this has definitely been the conclusion drawn by the public when it comes to real estate agents.

The reality is that around 80% of first year real estate agents fail. That means that around 4 out of every 5 new agents drop out of the industry in their first 12 months on the job. An entry level sales agent can expect to earn less than $40,000 in their first year and it is this constant financial battle which proves catastrophic to most people. The average salary in NSW for a residential sales agent is $63,133, with commercial sales agents averaging $96,782. Of course some agents earn well in excess of $1 million dollars but they are a very rare find. Enormous amounts of hard work, dedication and perseverance are needed to perform at the very top level.
Most real estate agents earn between 30-60% commission depending on their sales volume, so when you see agents driving luxury cars ask yourself how much work is required to really make it to the top and stay there? If you believe you can or if you believe you can’t then you are right!

Michael Marquette michael@marquetteturner.com.au

Best Countries To Retire To

Recent research compared the top ten locations for pensioners to retire abroad. The results saw Cyprus and Panama coming tops based on tax, ease of residency, healthcare and average property costs.

It is fact that Australia is seeing large numbers of it's people leaving the country to live overseas. Years of being in the Australian housing market has left many retirees with large amounts of equity in their homes and a desire for better things.

The report shows the vast differences in taxation, inheritance laws and the availability of healthcare. How many of us know that France for example has income tax rate of up to 40% plus.

Cyprus tops the list of destinations because it has an income-tax rate of just 5% on pensions for retired residents, as well as low property prices and no inheritance tax. It also scores highly on related issues such as ease of gaining residency, low property buying and selling costs and benefits for pensioners. Not only does Cyprus offer a warm, sunny climate, it also benefits from favourable taxation and healthcare policies.

Panama, now infamously the chosen destination of “back from the dead” British canoeist John Darwin and his wife Anne, comes a close second. This is largely thanks to its pensionado scheme, which offers attractive discounts for pensioners.

Simon Turner simon@marquetteturner.com.au

World's Top 3 Most Expensive Cities for Real Estate

London, New York and Moscow are now the world’s most expensive cities for residential apartment buyers, according a survey by the Global Property Guide (http://www.globalpropertyguide.com/), an international property research firm.

Residential apartments in Prime Central London are among the priciest in the world, at US$21,800 to US$36,200 (£10,960 - £18,214 or €16,305 - €27,095) per square metre (sq. m.). Prime Central London includes Belgravia, Chelsea, Mayfair, Notting Hill, Knightsbridge, Regent's Park, South Kensington, St. John's Wood, and St. James.

Prices in other luxurious areas in London such as Wimbledon, Hampstead, Richmond, and Wandsworth range from US$14,142 to US$19,361 (£8,675 - £9,719 or €10,560 - €14,458) per sq. m., also among the highest in the world.


New York comes in second place with property prices in Upper Manhattan ranging between US$13,270 and US$22,923 per sq. m. Apartment prices in Lower Manhattan are around US$12,510 – US$20,456 per sq. m

Moscow comes in third place with central Moscow apartment prices ranging from US$10,764 to US$20,506 per sq. m

Other cities in Europe that are among the top ten most expensive cities for apartment buyers are Paris, Barcelona, and Geneva. Condominium prices in Paris are around US$12,930 to US$18,070 per sq. m.

In Spain, prices of flats in Barcelona are between US$9,160 and US$9,870 per sq. m. Prices of apartments in Madrid are lower than Barcelona, at US$6,535 – US$ 8,000 per sq. m

In Switzerland, prices of flats in Geneva are around US$6,870 - US$10,400 per sq. m. Prices in Geneva are higher compared to Zurich, US$5,900 – US$9,830 per sq. m

Of the three German cities included in the study, Munich is the most expensive with prices of flats at US$3,485 – US$3,700 per sq. m.; followed by Frankfurt at US$2,360 – US$3,300 per sq. m. Property prices in Berlin are still relatively subdued at US$1,840 – US$2,600 per sq. m.

Residential apartments in Istanbul, Turkey are among the cheapest in Europe, at around US$1,850 to US$2,500 per sq. m.

Most Expensive Asia-Pacific Cities
Among the top ten most expensive cities, four are in Asia: Hong Kong, Tokyo, Singapore, and Mumbai.

Residential apartment prices in Hong Kong range from US$10,490 to 14,780 per sq. m., in Tokyo from US$7,600 to US$11,870 per sq. m., and in Singapore from US$11,500 to US$13,340 per sq. m.

Mumbai is a notable exception among the ten most expensive cities; it is located in a poor country, albeit rapidly growing. A mix of high population density, archaic land laws, rapid urbanization and strong economic growth contributes to the surprisingly expensive property prices in Mumbai.

Property prices in Mumbai are around US$8,600 to US$10,300 per sq. m. This is significantly higher than New Delhi (prices at US$1,970 – US$3,260 per sq. m.) or Bangalore. Despite equally rapid economic expansion, property prices in Bangalore are still among the cheapest in the world at US$950 – US$1,900 per sq. m..

Compared to Mumbai, Chinese cities are significantly cheaper. Prices of flats in Shanghai are around US$2,870 to US$3,540 per sq. m. while those in Beijing are priced at US$2,100 to US$2,330 per sq. m.

Properties in Australia are near the top of the scale, with apartment prices in Sydney at around US$6,290 to US$9,690 per sq. m. New Zealand is significantly cheaper than Australia, with apartment prices in Wellington at only US$4,360 – US$4,500 per sq. m.

Do you feel better for now knowing what an expensive city Sydney is!

Simon Turner simon@marquetteturner.com.au