Items Tagged with 'Luxury real estate'

ARTICLES

  • Senate Democrats call for federal investigation into money laundering in luxury real estate

    Sens. Van Hollen and Whitehouse ask GAO to look into all-cash market
    The Treasury Department’s Financial Crimes Enforcement Network has been looking into whether foreign buyers are using shell companies to buy luxury U.S. real estate in order to launder money for almost three years, but two Democratic senators want the government to do more to figure out how much criminal activity is prevalent in these deals.
    Read More
  • $85 million NYC condo comes with 2 tickets to space, $1 million yacht, more

    Agency tosses in perks to overcome stalled NYC luxury market
    New York City’s luxury market has been clogged with too much inventory in recent months, slowing the sale of high-end properties, like this 15,000 square-foot duplex penthouse in Hell’s Kitchen. The owner just put the property back on the market, adding a list of eye-popping perks in a bid to sweeten the pot.
    Read More
  • Inspirato enters luxury single-family home market

    The hospitality brand is adding luxury vacation homes to its portfolio
    Inspirato is making the jump into the single-family rental realm/ownership with a new business arm, Inspirato Real Estate. It is marketing homes as rental investments within its portfolio for people who are looking to buy a vacation home but are hesitant for fear of losing money on the home or never using it.
    Read More
  • Texas brokerage closes state's first-ever bitcoin home purchase

    Joins just California in the short list of state's selling property via bitcoin
    Taking real estate purchases in the Lone Star state to a new level, Kuper Sotheby's International Realty said it finalized the first-ever home in Texas that was purchased entirely with the cryptocurrency, bitcoin. Located in the capital of Texas, the luxury home sold for an undisclosed amount this summer.
    Read More
  • Feds target luxury real estate wire transfers in money laundering investigation

    Nearly one-third of cash sales tied to "illicit activity"
    The federal government's recent investigation found that potentially illicit activity is behind more than 30% of cash purchases from foreign buyers in select U.S. property markets. FinCEN will now target what some are calling a “gaping loophole” in its initial investigation – wire transfers.
    Read More
  • From HW Magazine

    Prime status: an update on luxury residential real estate

    Slowly and steadily growing, luxury real estate is catching up to the rest of the housing economy
    In the years leading up to the housing bubble of 2007, it seemed like everyone was getting a piece of the American Dream of homeownership (or maybe even second homeownership). Ten years after the Great Recession, how is luxury residential real estate faring? Was the recent market slowdown just a temporary blip on the radar and will the sector continue to draw the aspirational interest of buyers as it did in the early to mid-2000s?
    Read More
  • U.S. to continue investigating money laundering by foreign real estate buyers

    Title companies required to reveal identities of high-end cash buyers
    The federal government will continue investigating whether foreign buyers are using high-end U.S. real estate to launder money after an expanded investigation found that potentially illicit activity is behind as many as one in three cash purchases from foreign buyers in select markets.
    Read More
  • U.S. expands investigation into money laundering by foreign cash buyers

    Government finds evidence of suspicious activities in high-end real estate
    The federal government revealed Wednesday that its investigation into foreign buyers using high-end U.S. real estate as a means to launder money found that potentially illicit activity is behind a "significant" portion of the cash transactions in Manhattan and Miami, and plans to expand the investigation into Los Angeles, San Francisco, and several other areas.
    Read More